Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Zambia Daily Mail reports that workers at the Kansanshi copper mine have gone on strike.
The website reports that “scores of miners” have walked off the job for the second time in two months over salary and working conditions. Trucks carrying mine supplies have been preventing from entering the site and police have set up barricades. “The situation remained peaceful but tense.”
Negotiations between the mine, owner, Vancouver-based First Quantum Minerals and subsidiary Kansanshi Mining Plc, and two unions have been ongoing for four months.
Kansanshi is the eight largest copper mine in the world.
First Quantum (TSX:FM) announced in November it is expanding production at Kansanshi by 60% to 400,000 metric tons by the end of 2014, from its current 250,000 t/a.
