Friday, March 29, 2024

Let’s discuss face-to-face, Vedanta asks Government

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Vedanta Resources Head office

Vedanta Resources has reiterated its appeal to the Zambian government to discuss the KCM matter face-to-face.

Giving an update on the latest legal issues surrounding KCM, Vedanta says it remains committed to resolving the current situation in the best interests of all parties involved.

It said the Lusaka High Court granted Vedanta an interim order which stayed a number of powers that had been granted to the KCM Provisional Liquidator.

The company said these powers were stayed until an inter partes hearing on the order, scheduled for 4 July 2019.

“Subsequent to such order the Provisional Liquidator (on behalf of KCM) and ZCCM filed applications in opposition to Vedanta making the application and for the stay order to be set aside. The opposing applications were scheduled to be heard inter partes today (Friday).

“Vedanta’s counsel requested an adjournment to prepare opposing affidavits and arguments. This was accepted and the hearing on the applications has now been scheduled to be heard on 4 July 2019, along with the motion of Nchito and Nchito, on behalf of the KCM directors’ to represent KCM.”

“However as part of the decision handed down today the stay on the exercise of the powers of the Provisional Liquidator has been lifted pending the inter partes hearing on 4 July 2019.”

And KCM yesterday released the statement below regarding the court decision

Press release

High Court vacates Oder to Stay some powers of the KCM Provisional Liquidator

CHINGOLA, 28 June 2019: The Provisional Liquidator (“PL”) of Konkola Copper Mines Plc (KCM), Milingo Lungu, informs that Lusaka High Court judge M. Bobo Banda has vacated the initial ex-parte order she granted limiting some of the powers of the Provisional Liquidator.

On 26 th June 2019, the High Court had issued an order to restrain the Provisional Liquidator, Mr Lungu, from exercising and performing some of his powers in KCM following an Ex-parte application to Stay some of the PL’s powers which was filed by lawyers representing Vedanta Resources Holdings Limited. The latest court decision on 28 th June, 2019 follows an urgent application by lawyers representing ZCCM to discharge the Ex-parte Order which was granted by Judge Mrs. Anessi B. Banda on 26 th June, 2019. The 26 th June, 2019 Ex Parte Order, among others restrained the PL from engaging with KCM suppliers and contractors as well as other business partners which would have crippled operations of Konkola Copper Mines.

In view of the court’s latest order issued on 28 th June, 2019, Mr Lungu wishes to update the nation and all KCM stakeholders that operations of KCM remain on course with production ramp- up being the key focus as the company continues to engage with its business partners in a normal way.

As provided for under Zambian legislation, 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.

“I am glad to reiterate that operations of the Nchanga Smelter, which commenced on 17 th June following the suspension of the operations on 17 th May 2019, have progressed in a smooth and sustainable manner. The Smelter has since started to produce copper anodes and acid required for the Tailings Leach Plant (TLP) operations,” Mr Lungu commented.

Mr Lungu further added that, “The Tailings Leach Plant itself is operating normally since resumption of operations on 20 th June 2019. All efforts by the various teams are entirely focused on ramping-up production. I therefore, urge employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. Our stakeholders should also remain calm as we continue to work towards a common goal-safe and increased production.”

Shapi Shachinda
Manager Public Relations & Communications

15 COMMENTS

  1. Spoiling our weekend by these …..? Where is football?
    Someone send commandos to finish up that drama.
    Robbers want to face each other??
    Only Lusaka lawyers gangs are benefiting from the on going sabotage, and they will prolong it to their graves. Look what they are still doing to Mmembe’s even leaving their wives to go occupy Mmembe’s house, cooking in his pots.

    • Face to face only translates to a handsome donation to PF coffers but they have forgotten that PF has found Chinks who have deeper pockets than them and they are interested in KCM.

    • Oh no, these Indians are suggesting corruption.
      Please ECL put on the all armour again corruption it may be extremely enticing to meet them ka; dangling brown envelops.
      Pedddle down, crazy baldheads took us for a rude ride.

    • Nostra,
      I honestly didn’t like the way the mine was taken over but when you look at the character Anil Agarwal. Just check on Wikipedia on how many mine he has been forced to shut down in the western world because of flouting environmental regulations! This criminal thought he could continue his bad way in Zambia and that’s why only failed criminal lawyers like Nchitos would even dare support him. The only hope is our very delicate and complex PF can mange this but its necessary

  2. This is confusion at it’s best. Exparte orders by one after another. Clearly, the road ahead for KCM will be disastrous. These are early signs of the mess that lies ahead. Watch this
    Ok

    • Even in a Marital Divorce a Judge has to hear the grounds of a Divorce from both the Wife and Husband. In this Case ZCCM/GRZ have to state the grounds of Divorce and Vedanta must have a say b4 a Divorce Certificate is issued. Vedanta has to Consent to the Divorce and Agree to the Terms of the Divorce. If Vedanta feels that they are not getting Justice from Zambian Courts they will seek International Arbitration in terms of the KCM Shareholders Agreement. GRZ is likely to lose this Case if its referred to International Court for Arbitration. Vedanta will exit KCM with a Premium and a hefty Compensation in damages. The writing is on the Wall.

  3. Discuss face to face about what just go your time is up you took us Zambians for granted you thought we are stupid

  4. What’s face to face when a matter has been filed in a law court? Do they mean to force us into an out of court settlement?

    Let the legal teams sort it out in court. Take your grubby money and go away Vedanta. Have some dignity.

  5. President Lungu had said enough is enough and I don’t think he can change his mind on this one, we are rallying behind him coz it takes a man to make a bold decision like he did. I like his temperaments coz he is long suffering and with a big heart to accommodate even those that misbehave but once changes his mind, no one and no one can control him, go ECL go, chingola people we are with you in fact the who CB. Power to the people

    • From 2004 they never had time for
      Face to face?last kicks of a dying
      Horse.They think nothing wrong in
      Trying one last time.Maybe Government can be scared of the
      Lenghthy court process.

  6. Zambians do not want Vedanta, they can leave Africa and try south America. These crooks have polluted our rivers and stolen from our people, enough is enough.

  7. Government must meet each other with open arms. A win-win scenario is possible. The Government must not fall into temptation of playing one investor against another. What is needed is to secure jobs, to secure production targets, to secure the rule of law where investors see for themselves that in Zambia investor enjoys the support of Government in job creation and growth of Government revenue. T It is unacceptable to glorify new entrants on the local scene at the expense of o;d friends. he devil you know is better than the one you do not.

  8. Government and Vedanta must meet each other with open arms. A win-win scenario is possible. The Government must not fall into temptation of playing one investor against another. What is needed is to secure jobs, to secure production targets, to secure the rule of law where investors see for themselves that in Zambia investor enjoys the support of Government in job creation and growth of Government revenue. It is unacceptable to glorify new entrants on the local scene at the expense of old friends. The devil you know is better than the one you do not.

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