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Vol 55 No 12

Published 13th June 2014


Zambia

Fury over Vedanta

A foreign company’s comments sparked public and government anger in a far-reaching debate about mining policy and taxes

Calls for higher mining taxes are increasing and new audits are in progress after comments about Zambia by the Vedanta Resources Chairman, Anil Agarwal, caused outrage. On 9 June, the Zambia Revenue Authority announced it would undertake a forensic tax audit going back to 2007. London-listed Vedanta is the largest shareholder in Konkola Copper Mines (KCM) yet its share price, which has been slowly rising over the last two months, has not been not affected.

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