Vedanta to seek court order saying Zambia's ZCCM breached shareholder pact
Vedanta, who are in the middle of a dispute with the Zambian government over its Konkola Copper Mines (KCM). Have announced it will be seeking an interim court order declaring that Zambian firm ZCCM have breached the terms of their KCM shareholders’ agreement.
"Vedanta will seek an interim court order declaring that ZCCM has breached the KCM Shareholders' Agreement by pursuing winding-up proceedings against KCM in Zambia, and directing ZCCM to withdraw those proceedings," Vedanta said in a statement.
Vedanta said the urgent application had been served on ZCCM and a provisional liquidator appointed for KCM.