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

UK-based Vedanta Resources, the parent company of India's Vedanta, has settled $245.75 million in dues to revive operations at Zambia's Konkola Copper Mines (KCM). This payment is part of a deal to regain control of the mines, which were seized by the Zambian administration in 2019 due to alleged lack of investment in expanding copper production. After a five-year legal battle, Vedanta regained control in November 2023.