South African Court Blocks Zambia's Plans to Sell Copper Mine

From bnnbloomberg.ca

A South African court ordered the Zambian government to halt its liquidation of Vedanta Resources Ltd.’s Konkola Copper Mines unit pending arbitration. The court ruled that the Zambian government breached its shareholder obligations, according to a judgment delivered in the Johannesburg High Court on Tuesday. Zambia was ordered to pay the legal costs. • The ruling blocks the Zambian government’s plan to sell KCM to another foreign investor. Companies including China Non-Ferrous Metals Co. have expressed an interest in buying the asset. • The judgment may signal the end of an often-turbulent decade for Vedanta ... (full story)