Signage for Vedanta Resources Ltd. is displayed at the company’s office building in Mumbai, India, on Thursday, March 6, 2020. Zambia’s government accused Vedanta at the time of failing to honour licence conditions, including promised investment – which Vedanta has denied. Mines Minister Paul Kabuswe said the referral to arbitration came after legal rulings. “Following the Court of Appeal’s decision to stay proceedings and refer the matter back to arbitration – a decision supported by the Supreme Court – a hearing is now set for 9th January 2023,” Kabuswe said in a statement. The company has offered to invest up to $1.5 billion in KCM if it resumes control of the mine.

Source: The North Africa Journal June 02, 2022 07:27 UTC