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-Zambian court rejects Vedanta bid to join liquidation case

20/06/2019 par Ancien313933 2
-Zambian court rejects Vedanta bid to join liquidation case

* Court grants Vedanta Resources leave to appeal

* Dispute has rattled wider mining community (Adds detail, background)

(Reuters) - A Lusaka court on Thursday ruled Vedanta Resources could not be included in proceedings to wind up its Konkola Copper Mines (KCM) business in Zambia.

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Zambia's dispute with Vedanta began in May when the government of Africa's second biggest copper producer appointed a liquidator to run KCM, saying it had breached its licence.

The row has intensified concerns among international miners about resource nationalism in Africa.

Zambian firm ZCCM-IH holds around 20 percent of KCM, while Vedanta Resources, part-owner of the Mumbai-listed Vedanta group of companies, holds a majority stake.

Vedanta has said it will seek international arbitration and has been fighting to be represented at the court proceedings, which so far have only included ZCCM-IH and KCM.

High Court judge Annes Banda-Bobo said the court was unable to "order a joinder of the intended second respondent to the proceedings" but granted Vedanta leave to appeal.

She said Vedanta had not filed a "notice of intention" required by the court. (Reporting by Chris Mfula in Lusaka Writing by Barbara Lewis Editing by Alexander Smith)
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