Vedanta Limited will receive Konkola Copper Mines (KCM) in Zambia from its London-based parent company Vedanta Resources Ltd. This transfer will be done ‘at right valuation’, as stated by Mr. Anil Agarwal, Chairman of Vedanta Group in a tweet dated 12th September 2023.
Vedanta Resources recently regained control of KCM from the Zambian Government, which owns 20% share in the Konkola Mines. As stated by Reuters in a report dated 5th September 2023, Vedanta has planned an investment of USD 1.2 billion (approximately Rs. 9,908 crore) to restart the operations in the Konkola mines.