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Zambia to End Vedanta Legal Spat Over Seized Copper Mines

  • Solution to KCM dispute must include Vedanta, president says
  • Vedanta has pledged to invest $1.5 billion in reviving KCM
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Zambia has agreed to end legal action against billionaire Anil Agarwal’s Vedanta Resources Ltd. as President Hakainde Hichilema seeks to revive mining output in the southern African country.

Hichilema is seeking repair relationships with mining companies in a bid to attract more foreign investment to one of Africa’s biggest copper producers. Rebooting production at Konkola Copper Mines -- seized from Vedanta in 2019 -- is central to president’s ambitions to more than triple output of the metal that’s key to the green-energy transition.