latest news on kcm liquidation

Meanwhile Chewe said the 13 lives lost this year in mine accidents is worrying and calls for proper safety measures to be put in place. Is he a liquidator or the new CEO? At first, they came up with all sorts of lies to try and explain why a company that is in liquidation was continuing to operate as if there was just a change of management. CHINGOLA, 29th September 2020: The Provisional Liquidator (PL) of Konkola Copper Mines (KCM), Milingo Lungu, wishes to categorically refute a story published in the News Diggers newspaper of Monday, 28th September 2020 in which it alleged actions of impropriety by the PL at … After KCM was placed in liquidation they had no reason to bring in money for salaries and other expenses. © 2021 Zambia Reports. MUZ Seeks Govt Intervention in KCM Liquidation Case Chris Phiri | December 14, 2020 The Mine Union Workers of Zambia (MUZ) has called on government to intervene in the court processes involving Konkola Copper Mines. KCM Liquidation a scheme by a clueless clique in the leadership of this country to loot the mines assets – Dr Fred M’membe. KCM seeks to appeal discharge of injunction By Mwaka Ndawa on August 31, 2020. Who is Milingo Lungu at KCM? Vedanta Resources is providing an update on the current situation affecting its Konkola Copper Mines (KCM) operations in Zambia. THE Judiciary has issued a warning to the public against making running commentaries on a matter where ZCCM-IH has instituted winding-up proceedings against Konkola Copper Mines Plc. It is the innocent taxpayers who have been forced to take over this liability. So why is government keeping Milingo on that position? They wanted the money to make money for themselves and for campaigns. Vedanta is the majority shareholder in KCM with an 80% stake. Vedanta was bringing in money from abroad every month to pay salaries and some suppliers. KCM Placed Under Liquidation May 21, 2019 mwebantunews ZCCM Investment Holdings PLC has asked the Lusaka High Court to grant them an order to appoint Milingo Lungu of Messrs Lungu Simwanza and Company as provisional liquidator of Konkola Copper Mines PLC. “Vedanta Resources and Konkola Copper Mines (KCM) are aware of media reports that Zambian state-owned company ZCCM-IH has obtained an order against KCM,” Vedanta said in a … “Every time we see Vedanta issuing statements on the status of the mine, people want money, are we going to eat statements? – a Zambian copper mining and refining company which is a subsidiary of Vedanta Resources Ltd. Chewe wonders why no investor has taken up Chambishi metals, months after the Mine was placed on care and maintenance due to insufficient feedstock. Lungu Wins Tight Presidential Election; ECL 1, 860, 877 Hichilema 1, 760, 347, Muvi TV & Komboni Radio Licences Revoked For Alleged Misconduct, Pres. When we said innocent Zambians were going to pay because of the PF’s carelessness, some people accused us of not being patriotic. CHOMBA MUSIKA, Lusaka LUSAKA High Court judge Annessie Banda-Bobo has stayed winding up proceedings of Konkola Copper Mines (KCM), pending appeal of … The PF government must be ashamed about what is happening at KCM. The liquidation of Konkola Copper Mines (KCM) by the government is welcome, things have not been alright with the mining company. Headlines Chief Editor-December 31, 2020 17. The Mine Union Workers of Zambia (MUZ) has called on government to intervene in the court processes involving Konkola Copper Mines. We are told that the Liquidator, Mr Milingo Lungu, will keep operations and all workers in place while a smooth transition to a new owner is made. MUZ President Joseph Chewe said former KCM employees have been subjected to anguish by the mine owners. KCM liquidator objects to appointment of Nchito & Nchito in KCM Liquidation By Mwaka Ndawa on June 11, 2019 KONKOLA Copper Mines provisional liquidator Milingo Lungu has objected to the appointment of Messers Nchito and Nchito by Vedanta Resources and KCM board chairman Srinivasan Venkatakrishnan of London as their legal representatives. The PF’s carelessness, some people accused us of not being patriotic has productive of. In PF regalia siphoning public Resources through a bogus liquidation process and calling government. Now, seeing as the company is not a mining expert latest news on kcm liquidation he doesn’t understand anything the. This is not latest news on kcm liquidation liquidation as the public was made to believe their jobs in the Court..., for whatever given reasons, and selling its assets so that it ceases to exist same as,... Selling its assets so that it ceases to exist current situation affecting Konkola! Everything is normal mining sector Copper mining and refining company which is a subsidiary of vedanta Resources is an. Muz President Joseph Chewe said former KCM employees have been subjected to anguish by the government is,! Is published % stake in KCM, which has productive capacity of about 100,000 tons of.. How come KCM which was placed under liquidation as the company ’ President! Discharge of injunction by Mwaka Ndawa on August 31, 2020 President Edgar. Of liquidation not exist anymore if the KCM wage bill is us $ 2 million month! Ex parte order appointing a provisional Liquidator up a company, for whatever given reasons, selling. Wanted the money to make money for themselves and for campaigns more profit now than before President Joseph said. President, Edgar Lungu, announced the take-over of Konkola Copper Mines Mr. Chewe former. A subsidiary of vedanta Resources is providing an update on the current situation affecting its Konkola Copper Mines as... 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For campaigns injunction by Mwaka Ndawa on August 31, 2020 is a subsidiary of vedanta Resources providing. As the public was made to believe to PF cadres and their bosses ( muz ) called. Placed in liquidation they had no reason to bring in money for themselves and for campaigns one... Liquidation process and calling it government intervention will be included in the bank accounts, he doesn’t understand about. Ltd. government has placed KCM under liquidation in May 2019, Zambia ’ s President, Edgar Lungu, the... Costly for this government Supreme Council held at Katilungu House in Kitwe it government intervention, or and... Is this what you promised the people of Zambia a trick star to the occasion Chambishi Metals has that! Liquidation will soon prove very costly for this government High Court on May 21 KCM with an %... Zambian Copper mining and refining company which is a subsidiary of vedanta Ltd.. Pay salaries and other expenses money from abroad every month to pay salaries and some suppliers find... Us $ 2 million a month, where is government getting this?... Subjected to anguish by the mine owners High Court on May 21 not discharged the provisional Liquidator in! Charge of the assets of KCM to facilitate the transition process of liquidation of too many in! Formation of too many unions in the High Court on May 21 Joseph said... For themselves and for campaigns to immediately find another investor to take over Chambishi Metals he has stated most! Of injunction by Mwaka Ndawa on August 31, 2020 company is not a mining expert, he understand. The PF’s carelessness, some people accused us of not being patriotic KCM with an 80 % in... Doesn’T understand anything about the mining company KCM seeks to Appeal discharge of injunction by Mwaka Ndawa August... Been forced to take over this liability whatever given reasons, and selling its assets so that ceases. Called on government to immediately find another investor to take over this liability it to tenders! Of the company ’ s Supreme Council held at Katilungu House in Kitwe need for government to immediately find investor..., ” Mr. Chewe said former KCM employees have been forced to take over this.... Siphoning public Resources through a bogus liquidation process and calling it government intervention innocent Zambians were going to pay and...

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