konkola copper mines liquidation

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. 18 December 2020 | … Our Head office is based in Chingola on the Copperbelt. Share this article: Share Tweet Share Share Share Email Share. The Bank of Zambia (BoZ) has commenced the accumulation of gold as part of its reserves assets. 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. 2 Min Read. Vedanta wins Zambian appeal in Konkola Copper Mines case 2020-11-20. 2020 is not a year I will look back on with nostalgia. Provisional Liquidator Milingo said that the Court of Appeal has not discharged the Provisional Liquidator. 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. 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 … 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. That is all we care about. 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. The joys of the rule of law. By JOHN SAKALA 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. Vedanta Resources, the main shareholder in KCM has been locked in a dispute with the Zambian government since May last year. By CHINOYI CHIPULU 22 December 2020 | 153Kb. 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 worse than Vedanta. Trying to make a quick killing fir your pockets won’t do. BLOOMBERG Zambia Plan to Sell Billionaire’s Mines Stuck in Legal Mire 2020-11-13. Sustainable Development & CSR at Vedanta Zinc International in South Africa & Namibia . 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. Mr Lungu explained that the Court of Appeal had not discharged the Provisional Liquidator and that he remained with full powers as granted by the High Court of Zambia on May 21, last year. La justice a débouté en appel le gouvernement, en suspendant la liquidation de la filiale locale du géant minier. Impeccable sources in Chingola have told News Diggers! “We shall definitely appeal to the Supreme. Mr Lungu was also given powers to defend any action or other legal proceedings in the name and or on behalf of the Respondent. By Mukosha Funga, 29th May 2019. JOHANNESBURG - The … The Bank of Zambia has purchased 47 kilograms of Gold from the Zambia Gold Company Limited, under ZCCM Investments Holdings. 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. Napsa Stars look set for this Wednesday’... By Ponga Liwewe “I therefore, urge all employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. It’s a year that I wish had never come. 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 … By Mwaka Ndawa on December 4, 2019. We want to ask the Supreme Court for stay of High Court ruling pending judgement,” Mr Lungu said. A South African court Tuesday granted Vedanta Resources an order blocking the liquidation of its Zambian-based Konkola Copper Mines (KCM) company amid a … La justice a débouté en appel le gouvernement, en suspendant la liquidation de la filiale locale du géant minier. That mine has been the lifeline of Chingola for close to 100yrs. 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. WhatsApp: +260966498043. How else do u get to 2021 without having 2020 in btwn? Vedanta wins Zambian appeal in Konkola Copper Mines case November 20, 2020 November 20, 2020 Janet A Zambian court on Friday ordered a stay on liquidation proceedings for Konkola Copper Mines (KCM) to allow owners Vedanta and ZCCM-IH to proceed … Zambian court stops KCM liquidation November 24, 2020 November 25, 2020 admin 0 Comments Copper, Konkola Copper Mines, Vedanta, ZCCM-IH. 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. Subscribe our newsletter and never miss our latest news ... Over 3, 000 bags of fertilizer go missing in Luanshya. 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. Choka! Vedanta-Konkola liquidation case adjourned to June 4-lawyer. 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. 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. The KCM Executive Management Committee remains accountable to the Provisional Liquidator. 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. Konkola Copper Mines (PLC) ... 20,6 % : par ZCCM Investments Holdings PLC Zambia Consolidated Copper Mines Limited - Investments Holdings (226 327 559 titres avec droits de votes + 12 000 000 titres sans droits de votes). Good to see disputes being settled in the rights channels of the law. 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. Mr Lungu said he retains the full powers as granted by the High Court of Zambia on May 21, 2019. Konkola Copper Mines has migrated 101 people from fixed term contract workers to permanent and pensionable employment. 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. 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. So how come in your desperation you want to appeal to a Court of same status?? You’re not welcome. MUZ President Joseph Chewe has told journalists in Kitwe that the anxiety among miners is worse. People of Chingola deserve better. MEDIA STATEMENTS View all. Police in Lusaka have launched a manhunt... By Mary Mukuka Our philosophy is ‘Good we commend, Bad we Condemn.’, Puma Building He is a thief now suing the Ndola courts. 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. Our stakeholders should also remain calm as we continue to work together towards a common goal of increased safe production,” he said. “In view of the latest Judgment, I wish to update employees, business partners, the nation and all KCM stakeholders. First Floor Suite 10 According to the order filed by the ZCCM, the liquidator had been given powers to carry assets of KCM. But it had to come. Let your employer take the matter to arbitration as ordered. KONKOLA Copper Mine (KCM) will appeal to the Supreme Court the decision to stay liquidation proceedings, Provisional Liquidator Milingo Lungu has said. A High Court judge has placed Konkola Copper Mines (KCM) under liquidation and appointed a PF cadre Milingo Lungu as provisional liquidator. 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. Our stakeholders should also remain calm as we continue to work towards a common goal safely and increased production,” he said. “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. KONKOLA Copper Mine (KCM) will appeal to the Supreme Court the decision to stay liquidation proceedings, Provisional Liquidator Milingo Lungu has said. Eurasian Resources Group and China Non-Ferrous Metals Co. expressed interest in buying Konkola Copper Mines, should the Zambian government succeed in seizing it … 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. The Independent Observer is a product of Valour Media Limited a fully registered media house in Zambia. 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. The liquidation of Konkola Copper Mines (KCM) by the government is welcome, things have not been alright with the mining company. Mr Lungu said operations of KCM would remain on course with production ramp-up being the key focus. 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. Chewe said the mine unions are having difficulties to explain to its members over the future of Konkola Copper Mine. He said that the … 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. 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. (Agence Ecofin) - Nouvelle victoire pour Vedanta en Zambie. 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 Provisional Liquidator Milingo said that the Court of Appeal has not discharged the Provisional Liquidator. Vedanta Group of companies and its owner Anil Agarwal the Indian billionaire has been a trick star to the Zambian government. Chingola, Tel: +260 212 311744 By Siphelele Dludla Jul 24, 2019. Kabundi Road Milingo Lungu and the other robbed The Post Newspaper should be in jail by now, but who can arrest them? Your coming has just worsened the situation, whose interests are you serving? Just give it back to the Indians. The Civil Society Organization has a... By JOHN SAKALA A liquidator was appointed to run KCM, which is 20 percent owned by Government through ZCCM-IH. Pour arriver à … Stalking the penalty box like his nickn... By CHINOYI CHIPULU Vedanta re-iterates its commitment to KCM on sustainable development & CSR. Local. This follows the Court of Appeal’s order that Liquidation proceedings be stayed to allow the parties to proceed to arbitration. We hope for an outcome which will be beneficial to our people. Look I never went to Law school but even I recognise that a Stay simply means ba Liquidator your authority is terminated. Potential buyers of KCM were awaiting a resolution to the dispute, Musukwa said, adding that steps taken by the government should not be “considered as nationalism”. Wikipedia. JOHANNESBURG (Reuters) - Zambia’s President Edgar Lungu met with the chairman of Vedanta Resources to discuss the disputed liquidation of its Konkola Copper Mines, a … This is according to an application for ex parte order appointing a provisional liquidator that was filed in the High Court on May 21. 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. May someone correct me, but is the Court of Appeal not at par with both the Supreme Court and Constitutional Courts? “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. As a liquidator you’re also just a nuisance. Mr Lungu states that ‘KCM has continued to ramp up production at all business units … 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. Zambia accused Vedanta of breaching the terms of its licence. Mr Lungu said said in an interview yesterday that he would ensure that the liquidation case was followed to the letter. Konkola Copper Mines’ liquidation halted . “I therefore urge all employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. Vedanta is concerned at the way in which some of the points were presented by Mr Lungu – and wishes to set the record straight. 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. Your pf cadres have started looting the scrap metals at Konkola and Chingola concentrators. The terms of its licence in btwn “ I therefore urge all employees to continue working,... Muz President Joseph Chewe has told journalists in Kitwe that the Court of Appeal has not discharged the provisional.! Media Limited a fully registered Media house in Zambia Media house in Zambia interview yesterday that would! 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