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	<img align="" alt="Vedanta Resources slapped with $100 million settlement in UK court" class="imgCont" height="464" src="http://bsmedia.business-standard.com/_media/bs/img/article/2016-08/29/full/1472472431-5136.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Vedanta Resources slapped with $100 million settlement in UK court" width="620" />
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		Indian mining giant Vedanta Resources has been ordered by the London High Court to pay over $100 million to a Zambian investment company related to a 2013 copper price agreement, the state-owned firm claimed on Tuesday.</div>
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		Vedanta&rsquo;s Konkola Copper Mines (KCM) based in Zambia has been ordered to pay approximately $103 million to Zambia Consolidated Copper Mines Investments Holdings (ZCCM-IH), the state-owned mining investment firm claimed.</div>
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		&ldquo;ZCCM-IH has been successful in its application for default judgement. KCM has been ordered (on 16 December 2016) to pay all sums owed to ZCCM-IH pursuant to the Settlement Agreement (plus associated contractual interest) within 30 days,&rdquo; a ZCCM-IH statement said.</div>
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		KCM has also been ordered to reimburse ZCCM-IH 80 per cent of the costs it has incurred in pursuing its claim.</div>
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		&ldquo;Further directions have been given to determine whether KCM made payments to Vedanta in breach of the prohibition on doing so under the Settlement Agreement,&rdquo; the statement said.</div>
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		&ldquo;If and to the extent it is determined that such payments were made, ZCCM-IH will be entitled to recover additional sums from KCM,&rdquo; it added.</div>
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		London-listed Vedanta Group is yet to comment on the judgement.</div>
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It has to pay approximately $103 million to Zambia Consolidated Copper Mines Investments Holdings due to 2013 copper price agreement

Vedanta Resources slapped with $100 million settlement in UK court

Vedanta Resources slapped with $100 million settlement in UK court

It has to pay approximately $103 million to Zambia Consolidated Copper Mines Investments Holdings due to 2013 copper price agreement

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