Vedanta mobilises US$250m for KCM small creditors

By Masauso Mkwayaya

Vedanta has arranged 250-million U.S Dollars to pay Konkola Copper Mines -KCM- small creditors by July 8, 2024.

This follows the Lusaka High Court decision rendered on June 28, 2024.

Additionally, KCM employees will receive a one-off payment of 2500 kwacha and a 20-percent salary increment after the board is reinstated.

The final steps of the transactions are expected to be concluded in the latter part of this month with the actual flow of all the relevant funds.

This is according to a joint statement issued to ZNBC News by Vedanta Resources, Government, and ZCCM-IH.