Vedanta Resources Plc’s Konkola Copper Mines Plc unit has removed “a lot of money” from Zambia and wants the government to assume its liabilities that exceed $1.5 billion, said the nation’s Vice President Guy Scott.
Zambian President Michael Sata fired the governor of the central bank and its board, reversed a foreign takeover of a local lender and temporarily halted metal exports within two weeks of taking office. Investors in Africa’s biggest copper producer aren’t panicking.
Zambia wants to form a airline this year to boost tourism and has received interest from potential partners in Europe, the U.S., Africa and the Middle East, Transport Minister Yamfwa Mukanga said in an interview today.
Kishore Kumar, head of Vedanta Resources Plc’s Zambian unit, said police reports that he deposited 200,000 kwacha ($35,971) in the bank account of a man impersonating President Michael Sata were incorrect.