On Thursday, 28 November 2019, the Lusaka High Court granted the Board of Konkola Copper Mines (KCM) and Vedanta Resources Holdings Ltd (Vedanta) an injunction order preventing the sale of KCM Mining Right areas by the KCM Provisional Liquidator – Mr Milingo Lungu – to the Defendants.

Recently, Vedanta and the KCM Board became aware that the KCM Provisional Liquidator had entered into a consent judgement in Zambia’s Court of Appeal which would result in KCM’s sale of Lot 649/M Chingola – part of KCM’s Mining Licence area – for US$20,000,000 to three companies (Rephidim, Mimbula and Moxico Resources Zambia plc) with whom KCM had been in legal dispute over the area
since 2016.

Thursday court action was taken to demonstrate that this decision by Mr Lungu was not in accordance with the law (illegal).

Vedanta and the KCM Board have vowed to continue to protect KCM’s assets through all available legal remedies.

At the same time, Vedanta remains committed to engaging with ZCCM-IH and the Government of Zambia in order to find an amicable solution that is in the best interests of KCM and Zambia.

It is so disgraceful that illegalities of all sorts, including flagrant asset stripping, have continued to be committed at KCM through the so-called provisional liquidator Milingo before a decision is made by the High Court and the International Arbitrator on whether to liquidate KCM or not..

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12 COMMENTS

  1. Why not exhaust all legal avenues before proceeding with final liquidation without any contention?It does not make any sense for every move of the provisional Liquidator to be met with court injunctions.

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    • Nichizungu Cha bwanji Ichi kansi
      On Thursday, 28 November 2019, the Lusaka High Court granted the Board of Konkola Copper Mines (KCM) and Vedanta Resources Holdings Ltd (Vedanta) an injunction order preventing the sale of KCM Mining Right areas by the KCM Provisional Liquidator – Mr Milingo Lungu – to the Defendants.

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  2. I don’t understand how the so called “learned colleagues” – lawyers – read contracts without understanding them. Anyway Zambia has a bad reading culture and decisions are just taken without fully analysing all possible consequences.

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  3. The PF liquidator is trying to raise money for his broke masters.This will be another ZAMTEL saga.
    By the way, has the PF government paid the $300 million it owes lapgreen? The Zambian government lost the dispute with lapgreen in an international court.

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  4. I made love to my whlte wlfe last night and after wards I was so relaxed and felt a relief to have her and to be in the UK on our self imposed exile. I thank her for suggesting that we move away from Zambia because things have gone terribly worse since we left.

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  5. Our Courts are refuges of criminals. Can you imagine how a case of Finance Bank with one of its clients remained in Court undecided from 1996 until the Bank was sold to Atlas Mara and the new owners received a judgment passed in the night? Wynter Kabimba promised us judicial reforms but the moment he got into Govt did nothing. Our Courts just cause us BP, you’re better off not following court stories because you just get annoyed for nothing. There will be twists and turns in this matter because there’s a lot of money involved. Zambia fell into the hands of the Mafia during the MMD reign

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  6. The writing is on the wall for all to see. Milingo appointed lawyers to represent Vedanta Board without the approval of Vedanta. Now he is scheming consent judgments with the lawyers he appointed to asset strip. This is a stinking scam. How I wish the court’s of law and arbitration process could be concluded quickly before the liability expected to arise from this liquidation scam sour further

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  7. The people of Chingola needs jobs and Moxico has everything. Stop playing politics and let the people get jobs. KCM is a failed project. Let Moxico continue at Mimbula. Lawyers play around issues like this for them to get as much money as possible by prolonging cases we already know where it should go.

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  8. If KCM/vedanta have a mining right what is the mining licence nunmber??? Lot 694 is a surface right not a mining right. as usual mixing things up and thinking we are all so dull.

    Vedanta is a enemey of progress and a enemy of all of us Zambians. when will they be stopped once and for all?? all they do is stop development of national assets. jelousy frogs

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