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Top related persons:
Paul Kabuswe - 3 Anil Agarwal - 3 Vedanta - 3 Chris Mfula - 3 Kabuswe - 2 Hakainde Hichilema - 2 KCM - 2 Felix Njini - 2
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Zambia LUSAKA London Lusaka KCM ZCCM Lusaka's Cairo
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Thomson - 4 Vedanta - 3 Vedanta Resources - 2 Mining - 2 IH - 1 Mopani - 1 Alexandra Hudson Our - 1 Drug Enforcement Agency - 1

Search resuls for: "Kabuswe"


4 mentions found


☆ Zambia agrees to hand disputed copper assets back to India's Vedanta
  + stars: | 2023-09-05 | by ( Chris Mfula Felix Njini | Chris Mfula | Felix Njini | ) www.reuters.com   time to read: +3 min
A shareholders' agreement is being reworked to make the commitments from both shareholders legally binding, Kabuswe added. The legal details of the agreement and reinstatement of the KCM board, would be finalised within the next three months, the minister said. The forced takeover nearly paralysed operations at the KCM and triggered protracted battles, with Vedanta mounting legal battles including approaching an arbitration court in London to recover the copper assets. The government, which seeks to triple copper output over the decade, is also searching for a new investor for Mopani Copper Mines. Reporting by Chris Mfula; Writing by Felix Njini; Editing by Olivia Kumwenda-Mtambo, David Evans, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Paul Kabuswe, Kabuswe, Anil Agarwal, Edgar Lungu's, Hakainde Hichilema, Vedanta, KCM, ZCCM, Chris Mfula, Felix Njini, Olivia Kumwenda, David Evans, Alexandra Hudson Organizations: Vedanta Resources, IH, Vedanta, Mopani, Mining, Alexandra Hudson Our, Thomson Locations: Zambia, LUSAKA, KCM, ZCCM, London, Lusaka
☆ Zambia seeks to deny bail to five Egyptians, 6 nationals charged with spying
  + stars: | 2023-08-29 | by ( ) www.reuters.com   time to read: +2 min
LUSAKA, Aug 29 (Reuters) - Zambia sought to deny bail to five Egyptians and six Zambians charged with espionage for entering a restricted zone of Lusaka airport, two weeks after Zambian authorities said their plane had been seized along with guns, bullets, cash and fake gold. "The state must give reasons as to why accused persons whose liberties to freedom are being taken away must be denied bail," defence lawyer Martha Mushipe told the court. That fuelled speculation in Zambian media that some of the suspects might have sought to swindle gold buyers in a fake bullion scam. Two Egyptian security sources said the plane seized in Zambia had been inspected by authorities before leaving Cairo, but that bags with one of the arrested Egyptians were not searched, and this was currently under investigation. Reporting by Chris Mfula; additional reporting by Cairo Newsroom; writing by Tim Cocks; editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.
Persons: Davies Chibwili, Martha Mushipe, Zambian Mines Minister Paul Kabuswe, Chris Mfula, Tim Cocks, Mark Heinrich Our Organizations: Drug Enforcement Agency, Zambian Mines Minister, Cairo Newsroom, Thomson Locations: LUSAKA, Zambia, Lusaka, Lusaka's, Cairo, Egyptian
☆ Troubles of Indian tycoon Anil Agarwal's Vedanta mount as Foxconn ditches JV
  + stars: | 2023-07-11 | by ( Tanvi Mehta | ) www.reuters.com   time to read: +3 min
He then expanded his empire across India, Zambia, Namibia, Ireland and South Africa and later entered the oil and gas sector. London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. Vedanta's gross debt stood at $6.8 billion as of April end, after the company completed 75% of its debt reduction commitment. FOXCONN JVVedanta-Foxconn had sought incentives from Prime Minister Narendra Modi's government and several Indian states for its Foxconn JV to manufacture semiconductors. Relations between Zambia and Vedanta broke down several years ago and culminated in the state appointing a liquidator for the KCM assets in May 2019.
Persons: Foxconn, Anil Agarwal, VEDANTA, Agarwal, Agarwal's, Akarsh Hebbar, Moody's, Narendra Modi's, Paul Kabuswe, Vedanta, Tanvi Mehta, Aditya Kalra, Sonali Paul Organizations: Vedanta, Resources, India's, Forbes, JV, Reuters, Thomson Locations: DELHI, Mumbai, India, Zambia, Namibia, Ireland, South Africa, London, Tamil Nadu, Odisha
☆ Zambia says deal with India's Vedanta over disputed copper assets imminent
  + stars: | 2023-07-05 | by ( Felix Njini Chris Mfula | Felix Njini | Chris Mfula | ) www.reuters.com   time to read: +2 min
SummarySummary Companies Mines minister says agreement with Vedanta Resources imminentVedanta says both parties want to sees mines in productionNAIROBI/LUSAKA, July 5 (Reuters) - Zambia is close to resolving a dispute with Vedanta Resources (VEDJB.UL) over its Konkola Copper Mines, with a deal over the future of the partly state-owned unit "imminent", its mines minister said. KCM has battled to attract investment since relations between Zambia and Vedanta broke down several years ago, culminating in the state's take-over of the KCM assets and forced liquidation in May 2019. The move triggering protracted legal battles, with Vedanta approaching an arbitration court in London to fight off the seizure of the copper assets. "The negotiations are advanced and an announcement is imminent," Zambia's Mines Minister Paul Kabuswe told Reuters. "We are concerned with the levels of deterioration of not only the mines but also socio-fabric of the workers," the spokesperson told Reuters.
Persons: KCM, Vedanta, Paul Kabuswe, Kabuswe, Situmbeko Musokotwane, Hakainde Hichilema, Anil Agarwal, Felix Njini, Chris Mfula, Jan Harvey Organizations: Mines, Vedanta, Vedanta Resources, Zambia's Mines, Reuters, Mining, Thomson Locations: NAIROBI, LUSAKA, Zambia, London, Africa's, Nairobi, Lusaka
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