Lusaka — A Zambian court has dismissed an application by Vedanta to stay the liquidation of its Konkola Copper Mines (KCM) unit, and set the hearing for a winding-up petition on Augusut 27. It’s a year that I wish had never come. KONKOLA Copper Mine (KCM) will appeal to the Supreme Court the decision to stay liquidation proceedings, Provisional Liquidator Milingo Lungu has said. He said as provided for under Corporate Insolvency Act and powers granted to the Provisional Liquidator, he would continue to exercise the executive responsibility of running the company. Just give it back to the Indians. But it had to come. You’re worse than Vedanta. Provisional Liquidator Milingo said that the Court of Appeal has not discharged the Provisional Liquidator. That mine has been the lifeline of Chingola for close to 100yrs. As provided for under the Corporate Insolvency Act and powers granted to the Provisional Liquidator, the Provisional Liquidator continues to exercise the executive responsibility of running the Company, and the KCM Executive Management Committee remains accountable to the Provisional Liquidator. Police in Lusaka have launched a manhunt... By Mary Mukuka By JOHN SAKALA ZCCM Investment Holdings PLC asked the Lusaka High Court to grant them an order to appoint Milingo Lungu of Messrs Lungu Simwanza and Company as provisional liquidator of Konkola Copper Mines PLC. Central Bank Governor Christopher Mvunga... Government has embarked on a robust countrywide exercise aimed at revamping resettlement schemes under the Resettlement Infrastructure Investment and Enterprise Support (ARIISE) programme in... Lusaka based Economist Trevor Hambayi says delays by government to reconstruct the gutted City market in Lusaka is an affront to the growth of... KCM to Appeal to the Supreme Court the decision to stay liquidation... HH Swindled Zambia, He can’t be President and I’m Ready to Prove it in Court-Sean Tembo, Don’t Expect Change in Load shedding, Energy Minister warns Zambians, Chiyangi Laments Another Eagles Continental Exit, Zesco Shows Faith in Kapumbu and Donashano, We are Safe Despite Going Down 3-1 to PF in Our Strongholds, UPND Political Strategist Assures Members, All of a sudden the PF have so much money to throw around to the Zambian voters, 57 year old late former Cabinet Minister put to rest, BoZ’s Purchase of Gold will help Zambia Further Build Gold Reserves, The ARIISE Project will stimulate Economic Recovery-Wina, Delays to reconstruct City Market three years on disappoints Economist Hambayi. Pour arriver à … Mr Lungu said operations of KCM would remain on course with production ramp-up being the key focus. The Mineworkers Union of Zambia (MUZ) has appealed to the judiciary to expedite the liquidation of Konkola Copper Mine KCM case that is before the court. The Court of Appeal sitting at Ndola on November 20, 2020 delivered a Judgment ordering that Liquidation proceedings at Konkola Copper Mines Plc to be stayed to allow ZCCM Investment Holdings and Vedanta Resources to proceed to arbitration. Look I never went to Law school but even I recognise that a Stay simply means ba Liquidator your authority is terminated. Impeccable sources in Chingola have told News Diggers! “I therefore, urge all employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. Konkola Copper Mines has migrated 101 people from fixed term contract workers to permanent and pensionable employment. Our Head office is based in Chingola on the Copperbelt. that the consultative meeting held to chart the way forward for the liquidation of Konkola Copper Mines, Monday, resolved to appoint some interim managers to run the various KCM business units. Zambian Judiciary warns against discussing Konkola Copper Mines (KCM) liquidation case June 12, 2020 June 13, 2020 arnbethnic The Zambian Judiciary has issued a warning to the public against making running commentaries on a matter where ZCCM-IH has instituted winding-up proceedings against Konkola Copper Mines Plc. Further, that operations of KCM remain on course with safe production ramp-up being the key focus as the company continues to engage with its business partners in a normal way,” he said. Last week, a Zambian court ordered a halt to liquidation proceedings for Konkola Copper Mines (KCM) to allow Vedanta and ZCCM-IH, which owns 20% of the operation, to proceed to arbitration. You’re not welcome. Zambian court stops KCM liquidation November 24, 2020 November 25, 2020 admin 0 Comments Copper, Konkola Copper Mines, Vedanta, ZCCM-IH. KONKOLA Copper Mine (KCM) will appeal to the Supreme Court the decision to stay liquidation proceedings, Provisional Liquidator Milingo Lungu has said. “In view of the latest Judgment, I wish to update employees, business partners, the nation and all KCM stakeholders. Napsa Stars look set for this Wednesday’... By Ponga Liwewe Eurasian Resources Group and China Non-Ferrous Metals Co. expressed interest in buying Konkola Copper Mines, should the Zambian government succeed in seizing it … The Bank of Zambia (BoZ) has commenced the accumulation of gold as part of its reserves assets. Our philosophy is ‘Good we commend, Bad we Condemn.’, Puma Building LUSAKA (Reuters) - A Zambian court on Friday ordered a stay on liquidation proceedings for Konkola Copper Mines (KCM) to allow owner Vedanta and state mining investment company ZCCM-IH to proceed to arbitration, the provisional liquidator said in a statement. With copper rallying over 76% (from March lows of $4,343 a metric ton) when supply chains bore the brunt of disease pandemic globally, to flirting with highs of $8,000 a metric ton, levels not seen in He is a thief now suing the Ndola courts. We hope for an outcome which will be beneficial to our people. The joys of the rule of law. Vedanta re-iterates its commitment to KCM on sustainable development & CSR. LUSAKA: A Zambian court on Friday ordered a halt to liquidation proceedings for Konkola Copper Mines ( KCM) to allow owners Vedanta and ZCCM-IH to proceed to arbitration, the provisional liquidator said in a statement. A liquidator was appointed to run KCM, which is 20 percent owned by Government through ZCCM-IH. MEDIA STATEMENTS View all. Our stakeholders should also remain calm as we continue to work together towards a common goal of increased safe production,” he said. 2 Min Read. La justice a débouté en appel le gouvernement, en suspendant la liquidation de la filiale locale du géant minier. The Court of Appeal sitting at Ndola on November 20, 2020 delivered a Judgment ordering that Liquidation proceedings at Konkola Copper Mines Plc to be stayed to allow ZCCM Investment Holdings and Vedanta Resources to proceed to arbitration. Chief government spokesperson Dora Siliya has said the government’s decision to liquidate Konkola Copper Mines was only meant to get Vedanta Resources out and not to shut down the mine. Mr Lungu said he retains the full powers as granted by the High Court of Zambia on May 21, 2019. People of Chingola deserve better. Mr Lungu said said in an interview yesterday that he would ensure that the liquidation case was followed to the letter. Kabundi Road Vedanta Resources, the main shareholder in KCM has been locked in a dispute with the Zambian government since May last year. By Siphelele Dludla Jul 24, 2019. Zambia accused Vedanta of breaching the terms of its licence. BLOOMBERG Zambia Plan to Sell Billionaire’s Mines Stuck in Legal Mire 2020-11-13. 2020 is not a year I will look back on with nostalgia. “I therefore urge all employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. WhatsApp: +260966498043. By Mwaka Ndawa on December 4, 2019. Trying to make a quick killing fir your pockets won’t do. Good to see disputes being settled in the rights channels of the law. Share this article: Share Tweet Share Share Share Email Share. KONKOLA Copper Mines provisional Liquidator Milingo Lungu has discontinued proceedings in a matter he was restrained from selling KCM mining rights areas to Rephidim Mining and Technical Suppliers Limited, Mimbula Minerals and Moxico Resources Limited. PROVISIONAL Liquidator of Konkola Copper Mines Milingo has been stopped from selling the company’s mining rights areas to Rephidim, Mimbula and Moxico Resources Zambia at a sum of US$20,000,000. So how come in your desperation you want to appeal to a Court of same status?? (Agence Ecofin) - Nouvelle victoire pour Vedanta en Zambie. “Vedanta Resources Limited notes the media statement issued on 13th November 2019 by Mr Milingo Lungu, the court-appointed Provisional Liquidator of Konkola Copper Mines (KCM). He said that the … Stalking the penalty box like his nickn... By CHINOYI CHIPULU Vedanta-Konkola liquidation case adjourned to June 4-lawyer. This follows ZCCM Investment Holdings PLC ‘s petition to the Lusaka High Court to to place KCM under liquidation in line with corporate insolvency laws of Zambia. Alors qu’une récente décision de justice lui imposait de suspendre momentanément la liquidation des actifs de Konkola Copper Mines, filiale de la compagnie britannique, le gouvernement a décidé de faire appel. A-21-year-old man of Kalomo who made... KCM miners being used like pawns in a chess game, – ’, Expedite disposing off KCM litigation case-MUZ, KCM Liquidator demands for apology from Diggers, Lungu asked to relieve Kampyongo, Kanganja, Senior Army Officer kills Dr Tasila Tembo-Pitters, Stone Nyirenda – The goal scoring machine. Our mission is to independently and objectively give our readers factual and balanced news that will help in good governance, democratization, policy making and implementation, transparency, justice dispensation and productivity. It requires a little intelligence – if a little is all one has – to realise that placing Konkola Copper Mines under provisional liquidation will lead to series of problems, including new ones. We want to ask the Supreme Court for stay of High Court ruling pending judgement,” Mr Lungu said. Vedanta Group of companies and its owner Anil Agarwal the Indian billionaire has been a trick star to the Zambian government. May someone correct me, but is the Court of Appeal not at par with both the Supreme Court and Constitutional Courts? Last week, a Zambian court ordered a halt to liquidation proceedings for Konkola Copper Mines (KCM) to allow Vedanta and ZCCM-IH, which owns 20% of the operation, to proceed to arbitration. Choka! MUZ President Joseph Chewe has told journalists in Kitwe that the anxiety among miners is worse. The KCM Executive Management Committee remains accountable to the Provisional Liquidator. “In view of this latest Judgment, Mr. Lungu wishes to update employees, business partners, the nation and all KCM stakeholders that the Court of Appeal has not discharged the Provisional Liquidator and he remains with full powers as granted by the High Court of Zambia on 21st May 2019,” he said. The liquidation of Konkola Copper Mines (KCM) by the government is welcome, things have not been alright with the mining company. Those migrated are employees at the Tailings Leach Plant (TLP) and Nchanga Concentrators in Chingola, as part of reorganization currently taking place to improve operations. The Independent Observer is a product of Valour Media Limited a fully registered media house in Zambia. Provisional Liquidator Milingo said that the Court of Appeal has not discharged the Provisional Liquidator. By CHINOYI CHIPULU Mr Lungu was also given powers to defend any action or other legal proceedings in the name and or on behalf of the Respondent. Sustainable Development & CSR at Vedanta Zinc International in South Africa & Namibia . That is all we care about. Local. According to Lusaka Times, the Court of Appeal sitting at Ndola has ordered a halt to liquidation proceedings for Konkola Copper Mines (KCM) to allow owners Vedanta and ZCCM-IH to proceed to arbitration. Mr Lungu states that ‘KCM has continued to ramp up production at all business units … Chewe said the mine unions are having difficulties to explain to its members over the future of Konkola Copper Mine. Your coming has just worsened the situation, whose interests are you serving? 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