By NATION REPORTERIT is going to be risky for government to consider bringing back Vedanta to run Konkola Copper Mines (KCM) because rumours are swelling that the firm may be having financial challenges, Patriots for Economic Progress (PeP) president Sean Tembo has said.Mr Tembo said that it was going to be suicide if government allowed Vedanta to return because the firm was facing a number of challenges and looking at the way it conducted itself the same would happen.“My plea is that government should not entertain the return of Vedanta because history is there for us to see, contractors were not paid plus other problems that were faced during its run at KCM,” he said.Meanwhile, Anil Agarwal’s once-London-listed Vedanta Resources Limited has a pile of debt, including a $1 billion bond due January.However, Vedanta Resources did manage to shed its net-debt burden from almost $10 billion in March last year to a little under $8 billion. With the […]
It is a risk to consider bringing back Vedanta, says Sean Tembo
