Konkola Copper Mines Plc (KCM) urges all stakeholders to remain calm as the Company continues to operate as a going concern.
On Tuesday 21 May 2019, ZCCM-IH Plc, in its capacity as member of the Company, presented a petition for the winding up of the Company and the Court appointed Mr. Milingo Lungu, Provisional Liquidator.
As provided for under Zambian Legislation, the Provisional Liquidator takes charge of the executive responsibility of running the Company in the interim until a further Court Order in this matter. As such, the Executive Management Committee is now accountable to the Provisional Liquidator until further notice.
KCM is a going concern and operations continue to run normally and safely. Management continues with their operational responsibilities and accountabilities in the execution of their normal duties. Management further urges all financial institutions, contractors, suppliers, local communities as well as all other stakeholders interfacing with KCM to remain calm as their interests are continually being taken care of.
Mr. Lungu said;” I would like to stress the fact that the Company will continue to operate as a going concern and all our actions will be in the interest of the Company and its stakeholders. We will conduct business as usual and there will be no action that will be taken that will prejudice the future of the Company.”