WE ARE LOOKING FOR MONEY-VEDANTA

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Vedanta Resources

WE ARE LOOKING FOR MONEY-VEDANTA

Vedanta Base Metals CEO Chris Griffith says the company is talking to a range of financing partners to raise money for a restart of its Konkola Copper Mines unit in Zambia, including the sale of a minority stake in KCM.

“We are in the fundraising process at the moment to raise $1.3 billion,” he said.

That may involve one of a number of potential outcomes, “one of which is a potential equity sale into Vedanta’s 80% that we own in KCM”, he added.

Source: The Economic Times

1 COMMENT

  1. These leeches have never had money to put in KCM. They bought it for 25m whilst there was 100m in the KCM account. Now they want to trade shares of a rundown company to raise cash. Which capitalist will bite this bait? Unless this capitalist has worked out a formula to screw us more. It was really idiotic for Lungu to send gun totting Kaizer and Milingo to sieze KCM by force. The leeches would have wound down on their own like binani did. Now we are stuck with them

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