Vedanta Resources pays $246 mln dues to help revive operations at Zambian copper mine

UK-based Vedanta Resources, parent of India’s Vedanta (VDAN.NS), opens new tab, has settled dues worth $245.75 million to help revive operations in Konkola copper mines (KCM) in Zambia as part of a deal to take back the mines, the Indian miner said on Friday.

The miner, owned by billionaire Anil Agarwal, had in November 2023 regained control of the copper mines and smelter, which the Zambian administration had seized in 2019, but needed to pay creditors of the mines to revive operations.