In 2019, ZCCM Investments Holdings Plc (ZCCM) filed a petition in the High Court of Zambia to wind up KCM (‘the Petition’) on “just and equitable” grounds. Subsequently, ZCCM amended the Petition to include an additional ground based on allegations that KCM is unable to pay its debts. ZCCM also obtained an ex parte order from the High Court of Zambia appointing a Provisional Liquidator (‘PL’) of KCM pending the hearing of the Petition. As a result of the appointment of the PL following ZCCM’s ex parte application, the PL is the designated authority for exercising almost all the functions of the Board of Directors, to the exclusion of the Board.
March 23, 2022 - Mines and Minerals Development Minister Paul Kabuswe says the process of appointing a new Konkola Copper Mines provisional liquidator is underway.
Vedanta Resources has not published production numbers since 2019. |