KCM liquidation process on hold

PROFILE PICTURE: POLICE officers keeping vigil at Konkola Copper Mine head office in Chingola. PICTURE: MACKSON WASAMUNU

LIQUIDATION proceedings involving Konkola Copper Mines (KCM) should be stayed to allow the parties to proceed to arbitration, the Court of Appeal has ordered.
This means that liquidation proceedings have to be stopped to pave way for an alternative dispute resolution between Vedanta Resources, majority shareholders, and ZCCM-IH, the minority stakeholders.
The order was made by Court of Appeal judges who sat in Ndola yesterday.
KCM provisional liquidator Milingo Lungu said despite this judgement, he still remains with full powers over operations of the mining company as granted by the High Court on May 21 last year.
Mr Lungu said operations at KCM remain on course with production ramp-up being the CLICK TO READ MORE

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