AFTER an exhaustive two-year effort aimed at forging equitable negotiations to determine the fate of Konkola Copper Mines (KCM), government and Vedanta have finally reached a decisive resolution.

Source: https://www.mwebantu.com/kcms-rebirth-as-minister-advocates-for-a-different-historical-outcome/?utm_source=rss&utm_medium=rss&utm_campaign=kcms-rebirth-as-minister-advocates-for-a-different-historical-outcome

At present, the Centre owns 29.54 per cent in Hindustan Zinc and 64.92 per cent is held by Anil Agarwal-promoted Vedanta.

Source: https://www.thehindubusinessline.com/markets/government-stake-sale-in-hindustan-zinc-to-be-spaced-out/article67448643.ece

A will be developed on the other side of the Narmada river in a 5-hectare area and Acharya Shankar International Advaita Vedanta Sansthan will be developed in a 10-hectare area.

Source: https://www.freepressjournal.in/indore/indore-assembling-of-parts-of-the-idol-will-begin-soon

Barmer oil field: SC issues notice to Centre on Vedanta Ltd’s.

Source: https://www.canindia.com/apple-delhi-retail-store-opens-on-april-20-mumbai-one-on-april-18/

Factbox-Troubles of Indian tycoon Anil Agarwal's Vedanta mount as Foxconn ditches JVaol.

Source: https://biztoc.com/x/424d14d59fc3dd3e?ref=ff

Financial help from the state is crucial for Agarwal, whose Vedanta is working to reduce gross borrowings of $6.8 billion as of April.

Source: https://www.financialexpress.com/industry/vedanta-foxconn-chip-venture-to-be-rejected-by-government/3108353/

I know the Government did its homework, conducting a due diligence – making sure that Vedanta will do the needful especially for the people of Zambia,” Fr. Kapembwa said.

Source: https://www.lusakatimes.com/2023/09/07/catholic-church-in-copperbelt-province-expects-improved-investment-from-vedanta-in-kcm/

JPMorgan, in a recent research note, deemed the current financial year as critical for Vedanta Resources, as it grapples with debt maturities and interest payments totaling $4.1 billion at the holding-company level.

Source: https://www.lusakatimes.com/2023/05/28/vedanta-resources-assures-funding-for-revamping-operations-at-kcm/

Mr. Chewe said the government should ensure that it looks at the issues affecting workers and the issues of compliance on the mining license if Vedanta was to return to KCM.

Source: https://www.lusakatimes.com/2023/01/16/mine-unions-urge-government-to-bring-back-vedanta-to-run-kcm-if-it-cant-find-an-alternative-investor/

One of their key complaints was around Vedanta Resources and KCM.

Source: https://www.lusakatimes.com/2023/02/18/dogs-and-vomit-the-case-of-mine-unions/

Similarly, KCM, despite making some efforts to address its liabilities, carries debts dating back to the days of Vedanta.

Source: https://www.lusakatimes.com/2023/06/13/debt-crisis-threatens-zambias-mining-industry-and-contractors/

Speaking during President Hakainde Hichilema’s visit to the Copperbelt, Mr. Kabuswe said Government has told Vedanta to pay all suppliers and contractors, to invest in mining development and to run the mine efficiently as some of the conditions.

Source: https://www.lusakatimes.com/2023/02/17/mines-minister-reveals-conditions-the-the-government-has-given-indian-investor-vedanta-mineral-resources/

Taiwan’s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, the Taiwanese firm said Monday, in a setback to Indian Prime Minister Narendra Modi’s chipmaking plans for his country.

Source: https://www.japantimes.co.jp/news/2023/07/11/business/tech/foxconn-dumps-vedanta-chip-plan/

The company recently pulled out of its planned partnership with Vedanta to build a chip and display plant in Gujarat, but is understood to be applying to India’s manufacturing scheme on its own.

Source: https://indianexpress.com/article/business/companies/amd-to-invest-400-million-india-over-5-years-to-set-up-research-development-facility-8864671/

The world’s largest contract electronics maker will “no longer move forward” with its $19.4 billion joint venture with Vedanta (VEDL), an Indian metals and energy conglomerate, in Asia’s third largest economy, it said Monday.

Source: https://biztoc.com/x/92dab72261a5cb8d?ref=ff

They vehemently advocated for Vedanta to leave Zambia and as a listening leader that President Lungu is, he heeded their calls and KCM was liquidated.

Source: https://www.lusakatimes.com/2023/02/18/dogs-and-vomit-the-case-of-mine-unions/

Vedanta and Foxconn pick Modi’s home state of Gujarat to set up a $19.5 billion semiconductor and display unit in the coastal state.

Source: https://qz.com/foxconn-vedanta-19-5-billion-india-chips-manufacturing-1850625884