Vedanta group takes control of Zambian copper mines

22 Jul 2024 CW Team

UK-based Vedanta Resources, the parent company of India's Vedanta Ltd, announced that it regained control of its Konkola copper mines (KCM) in Zambia after settling dues amounting to $245.75 million. The company, owned by billionaire Anil Agarwal, had initially regained control of the copper mines and smelter in November 2023, following their seizure by the Zambian administration in 2019, but needed to pay the mines' creditors to restart operations.

Vedanta Resources secured control of KCM's assets after a five-year legal battle, which began when former Zambian President Edgar Lungu accused the company of failing to invest adequately in the operations.

Despite regaining control, Vedanta Resources still needs to raise an additional $1 billion to revive KCM's mining operations and invest in advancing the Konkola deep mining project, which contains some of the world's richest copper deposits, according to a Reuters report from early July.

The Zambian government owns a 20% stake in KCM through ZCCM, a mining investment company, while Vedanta Resources holds the remaining ownership.

Additionally, Anil Agarwal stated last month that Vedanta Resources plans to reduce its debt by $3 billion over the next three years, as the company faces mounting debt and multiple rating downgrades since the previous year.

Infrastructure Transport

08 Oct 2025

Railways Clears Rs 1.12 Billion Six-Lane Bridge Near Amaravati

The Ministry of Railways has approved the construction of a six-lane road over bridge (ROB) at the E13 extension road between Mangalagiri and Krishna Canal stations in Andhra Pradesh, at an estimated cost of Rs 1.12 billion. The project, fully funded by the Railways, aims to improve regional connectivity and ease traffic flow towards the Amaravati Capital Region.The proposed bridge will provide a crucial link between National Highway-16 (NH-16) and Amaravati, crossing the busy Chennai–Howrah railway line near Vijayawada. Initially planned as a four-lane structure, the design has been upgrade..

Bombay HC Questions Cuffe Parade Redevelopment On Prime Govt Land

The Bombay High Court (HC) has raised serious concerns over the redevelopment of 33 acres of prime government land in Cuffe Parade, South Mumbai, under the Slum Rehabilitation Authority (SRA) scheme, calling it a potential misuse of public property under the guise of slum rehabilitation.In a strongly worded order issued on 1 October 2025, a division bench of Justices G.S. Kulkarni and Aarti Sathe observed that transferring such valuable land for private development amounted to “removing it from the public pool” and “throwing it open for commercial exploitation” in a city already depriv..

Delhi Plans Rs 20 Billion Twin-Tower Secretariat At ITO

The Public Works Department (PWD) has proposed an ambitious plan to construct a twin-tower secretariat complex at ITO in central Delhi, bringing together all scattered government offices under a single roof. The project, estimated to cost over Rs 20 billion, aims to create a modern governance hub that will reshape the city’s skyline.According to officials familiar with the plan, the proposal is awaiting approval from the PWD minister before being presented to the Delhi cabinet. If sanctioned, the new complex will replace Vikas Minar and an adjoining office block that currently houses the Del..