As a liquidator you’re also just a nuisance. 22 December 2020 | 153Kb. He is a thief now suing the Ndola courts. MEDIA STATEMENTS View all. DR Fred M’membe says the placement of Konkola Copper Mines under provisional liquidation is a scheme by a clueless clique in leadership of the country to loot the assets. Eurasian Resources Group and China Non-Ferrous Metals Co. expressed interest in buying Konkola Copper Mines, should the Zambian government succeed in seizing it … NANCY SIAME, Lusaka LIQUIDATION proceedings involving Konkola Copper Mines (KCM) should be stayed to allow the parties to proceed to arbitration, the Court of Appeal has ordered. Our philosophy is ‘Good we commend, Bad we Condemn.’, Puma Building People of Chingola deserve better. You’re worse than Vedanta. Vedanta Group of companies and its owner Anil Agarwal the Indian billionaire has been a trick star to the Zambian government. The KCM Executive Management Committee remains accountable to the Provisional Liquidator. Police in Lusaka have launched a manhunt... By Mary Mukuka Vedanta is concerned at the way in which some of the points were presented by Mr Lungu – and wishes to set the record straight. This is according to an application for ex parte order appointing a provisional liquidator that was filed in the High Court on May 21. The Bank of Zambia (BoZ) has commenced the accumulation of gold as part of its reserves assets. KONKOLA Copper Mine (KCM) will appeal to the Supreme Court the decision to stay liquidation proceedings, Provisional Liquidator Milingo Lungu has said. Subscribe our newsletter and never miss our latest news ... Over 3, 000 bags of fertilizer go missing in Luanshya. 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. Good to see disputes being settled in the rights channels of the law. Konkola Copper Mines has migrated 101 people from fixed term contract workers to permanent and pensionable employment. A court hearing between Vedanta, its Konkola Copper Mines business (KCM) and the Zambian government over control of KCM, was adjourned on Friday until June 4, a … 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. May someone correct me, but is the Court of Appeal not at par with both the Supreme Court and Constitutional Courts? Chewe said the mine unions are having difficulties to explain to its members over the future of Konkola Copper Mine. 2020 is not a year I will look back on with nostalgia. Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. A South African court Tuesday granted Vedanta Resources an order blocking the liquidation of its Zambian-based Konkola Copper Mines (KCM) company amid a … 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. 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. A High Court judge has placed Konkola Copper Mines (KCM) under liquidation and appointed a PF cadre Milingo Lungu as provisional liquidator. Vedanta Resources, the main shareholder in KCM has been locked in a dispute with the Zambian government since May last year. “I therefore, urge all employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. Vedanta re-iterates its commitment to KCM on sustainable development & CSR. Siliya, the information and broadcasting minister, said government was very confident that other investors would take over the running of KCM despite Vedanta insinuating that the move to liquidate … Kabundi Road By Siphelele Dludla Jul 24, 2019. The Independent Observer is a product of Valour Media Limited a fully registered media house in Zambia. 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. We hope for an outcome which will be beneficial to our people. You’re not welcome. 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. La justice a débouté en appel le gouvernement, en suspendant la liquidation de la filiale locale du géant minier. “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). Zambie : la justice confirme la suspension de la procédure de liquidation de Konkola Copper Mines Nouvelle victoire pour Vedanta en Zambie. Vedanta wins Zambian appeal in Konkola Copper Mines case 2020-11-20. By CHINOYI CHIPULU We want to ask the Supreme Court for stay of High Court ruling pending judgement,” Mr Lungu said. The Bank of Zambia has purchased 47 kilograms of Gold from the Zambia Gold Company Limited, under ZCCM Investments Holdings. “We shall definitely appeal to the Supreme. Mr Lungu states that ‘KCM has continued to ramp up production at all business units … Mr Lungu was also given powers to defend any action or other legal proceedings in the name and or on behalf of the Respondent. The Civil Society Organization has a... By JOHN SAKALA But it had to come. By Mukosha Funga, 29th May 2019. (Agence Ecofin) - Nouvelle victoire pour Vedanta en Zambie. Just give it back to the Indians. 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. Zambia accused Vedanta of breaching the terms of its licence. 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