Zambia has ramped up the pressure on Konkola Copper Mines, the copper company controlled by Anil Agarwals Vedanta Resources.
A day after President Edgar Lungu said he would strip KCM of its mining licence and bring in a new investor, Zambias High Court appointed a law firm called Lungu Simwanza & Company to act as provisional liquidator, according to court documents seen by the Financial Times.
These said Lungu Simwanzas appointment would last until the conclusion of a petition brought by state-controlled Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) under the countrys corporate insolvency act.
The move is likely to stoke concern that Zambia, Africas second-largest copper producer, is looking to nationalise KCM and…
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