BUSINESS MAVERICK: In Zambia, a state asset grab and a hazardous leak raise many questions

Last week, according to reports in the Zambian media, 53 employees of Konkola Copper Mines and 232 schoolchildren were hospitalised after an apparent electrical surge caused a sulphur dioxide emission from KCM’s acid plant.

The provisional liquidator was appointed after KCM’s minority shareholder, a state-run investment company, applied for the winding up of KCM. Mining company Vedanta stands accused by the government of populist President Edgar Lungu of failing to pay creditors and dividends and of not investing in KCM – in effect, of breaching its operating licence.

It must be said that Vedanta’s own safety and environmental record has also been under scrutiny, with the company facing a lawsuit in English courts over allegations it polluted the land of 2,000 rural Zambians. Such allegations, and others about the treatment of its workforce, have perhaps made Vedanta an easy target for the populist move of shaking down or throwing out a foreign mining company.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Business Maverick: Cartoon Tuesday with Rico
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Aramco Failure to Win Foreign Money Makes IPO Local Eventwo years ago, when the initial public offering of Saudi oil giant Aramco held the imagination of foreign investors, President Donald Trump felt compelled to publicly lobby for the share sale to happen in America.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Aramco Sees Nearly Enough Early Orders to Pull Off IPOSaudi Aramco’s bankers are seeing sufficient early demand to pull off the state oil giant’s initial public offering just three days after launching the deal, people with knowledge of the matter said.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Tongaat offloads Namibian company to BokomoSelling sugar packaging and distribution business is part of a drive to ditch noncore assets in line with ongoing strategic and financial review
La source: BDliveSA - 🏆 12. / 63 Lire la suite »

BUSINESS MAVERICK: OP-ED: The decline and fall of US Attorney-General William BarrThe US Attorney-General’s recent actions raise the question of whether he is acting as the nation’s top law-enforcement official or as Donald Trump’s own defence lawyer.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

BUSINESS MAVERICK: Listings that keep investors in the loop, and (potentially) the JSE out of itEmerging stock exchange ZAR X celebrated two listings on 14 and 15 November, each with its own unique investment proposition. One is a private equity outfit based in Mauritius and focused on food security, while the other is an investment holding company that plans to unlock more immediate value for its shareholders. It’s game on for the JSE.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »