| Vedanta says Zambia VAT breakthrough to boost copper output | |
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LUSAKA, Feb 23 (Reuters) - Konkola Copper Mines (KCM), a unit of Vedanta Resources, said on Monday that a resolution to a dispute with the Zambian government over value added tax (VAT) refunds would allow it to ramp up copper production. KCM also said it would now be able to profitably purchase copper concentrate from neighbouring mines for processing at its smelter, after the government relaxed its rules on the documentation mining exporters need to claim tax refunds. The row over how mining companies account for the minerals they export from Zambia had led to more than $600 million in VAT refunds being withheld from mining companies, including Glencore and First Quantum Minerals. (Reporting by Chris Mfula; Writing by Joe Brock; Editing by James Macharia)
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Vedanta Resources PLC
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PRODUCER |
CODE : VED.L |
ISIN : GB0033277061 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Vedanta Res. is a zinc and lead producing company based in United kingdom. Vedanta Res. produces zinc, lead, bauxite, copper and gold in Armenia, in Australia, in India and in Zambia, develops lead and zinc in India. Its main assets in production are KONKOLA in Zambia, MT LYELL in Australia, ZOD in Armenia and MAINPAT, RAMPURA AGUCHA, RAJPURA DARIBA, ZAWAR and KAYAR in India, its main asset in development is SINDESAR KHURD in India and its main exploration property is BAMNIA KALAN in India. Vedanta Res. is listed in Germany and in United Kingdom. Its market capitalisation is GBX 227.1 billions as of today (€ 195.8 billions). Its stock quote reached its highest recent level on February 03, 2006 at GBX 999.98, and its lowest recent point on September 28, 2018 at GBX 832.60. Vedanta Res. has 272 776 398 shares outstanding. |