Business

English High Court awards ZCCM-Investment $36 million

KALONDE NYATI, Lusaka
A High Court in London has awarded ZCCM-Investment Holdings a further US$36 million claims against Konkola Copper Mines Plc (KCM), bringing the total amount to approximately US$139 million.

ZCCM-IH and KCM have since agreed a repayment plan for the recovery of the additional sum, which consists of 21 equal monthly instalments of US$1.7 million with interest at three percent.

A final payment is expected on 31 August 2019.
In 2016, the English High Court granted default judgment in favour of ZCCM-IH in its claim against KCM, brought pursuant to a settlement agreement entered by the parties in 2013, for a sum of US$103 million.
The claim relates to outstanding payments under a 2013 copper price…http://epaper.daily-mail.co.zm/

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