I’m in control again-KCM Liquidator

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By JOHN SAKALA
The Provisional Liquidator (PL) of Konkola Copper Mines Plc (KCM), Milingo Lungu, informs KCM stakeholders that Lusaka High Court Judge Bobo Banda has vacated the initial exparte order she granted limiting some of the powers of the Provisional Liquidator.

On June 26, 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 lawyers representing Vedanta Resources Holdings Limited.

The latest court decision on June 28, 2019 follows an urgent application lawyers representing ZCCM to discharge the Ex-parte Order which was granted Judge Mrs Anessi B. Banda on June 26, 2019.

The June 26, 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 June 28, 2019, Mr Lungu updated the nation and all KCM stakeholders that operations of KCM remain on course with production rampup 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 17th June following the suspension of the operations on 17th 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.

“The Tailings Leach Plant itself is operating normally since resumption of operations on June 20, 2019. All efforts 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,” Mr Lungu said.

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