US says billionaire Gertler’s royalties must go to Congo for sanctions deal
A senior White House adviser said lifting that punishment is necessary to open up the assets to new investments that support US interests.
Vedanta Resources said on Thursday it will challenge in court a decision by Zambia’s High Court to appoint a legal firm as a provisional liquidator of Konkola Copper Mines (KCM).
The liquidation application was brought against Vedanta-controlled KCM by Zambian state-owned ZCCM-IH, which holds a 20.6% stake in the unit.
“Vedanta has serious concerns about the intentions of the applicants and the procedures that were followed by ZCCM-IH as a representative of government to obtain a provisional liquidation order on an ex parte basis against KCM in an apparent misuse of the legal process to date,” the company said in a statement.
(By Chris Mfula and Olivia Kumwenda-Mtambo; Editing by Alexandra Hudson)
