 "Vedanta's Zambia mine to pay first instalment of $100 million fine to govt by month-end")
Konkola Copper Mines (KCM), owned by global conglomerate Vedanta Resources PLC, will pay the first tranche of a $100 million fine to the Zambian government by the end of month, the country’s investment firm said on Tuesday. [caption id=“attachment_1964375” align=“alignleft” width=“380”]  Reuters[/caption] The claim relates to outstanding payments under a 2013 copper price participation settlement agreement between KCM and Zambia Consolidated Copper Mines Investments Holdings (ZCCM-IH). In December, a British court ruled against Vedanta and in favour of the Zambian government, ordering the miner to pay the southern African nation $103 million by 13 January 2017. According to the new agreement reached between the two parties, KCM will pay ZCCM-IH $20 million on 30 January, $22 million at the end of February, and monthly instalments of $255,000, thereafter.
The claim relates to outstanding payments under a 2013 copper price participation settlement agreement between KCM and Zambia Consolidated Copper Mines Investments Holdings.
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