LUSAKA, Nov 6 - Vedanta Resources and the Zambian government on Monday sealed an agreement that restores the Indian company's ownership of Konkola Copper Mines , ending a protracted ownership battle that stifled investment.
The agreement will lead to the re-appointment of the KCM board and withdrawal of all legal challenges that are in court, including removing a provisional liquidator who was in charge of the assets, Kabuswe said. Billionaire Anil Agarwal's Vedanta mounted numerous legal challenges, including suing Zambia at the arbitration court in London, to regain control of KCM after former president Edgar Lungu's government orchestrated the seizure of the copper assets by forcing the operations into liquidation in May 2019.
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