Vedanta Resources arranges $250m to settle KCM Zambian copper mine debts, as part of a deal with Zambian authorities.
Vedanta Resources Ltd has arranged $250 million to settle debts owed by its Zambian copper mine Konkola Copper Mines (KCM), as part of a deal reached with Zambian authorities after regaining control of the assets. The company will pay small creditors in Zambia on or around July 8. In addition to paying debts, Vedanta plans to grant KCM workers a 20% salary increase and a one-time payment of 2,500 Zambian Kwacha.
July 05, 2024
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