Court orders Zambia Vedanta unit to pay state firm $139 million

LUSAKA, Jan 2  – A London court has ordered Zambia Vedanta unit KCM to pay a state mining company $139 million in a claim related to the copper price, raising by $36 million the amount it was originally ordered to pay, the state company said on Tuesday.

The claim relates to outstanding payments under a 2013 copper price participation settlement agreement between Konkola Copper Mines (KCM) KCM and Zambia Consolidated Copper Mines Investments Holdings (ZCCM-IH).

Vedanta officials were not immediately available for comment.

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