The Lusaka High Court has granted Konkola Copper Mines (KCM) and Vedanta Resources an injunction order preventing the sale of KCM Mining Right areas by the KCM provisional liquidator – Milingo Lungu.
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 million to three companies (Rephidim, Mimbula and Moxico Resources Zambia) with whom KCM had been in legal dispute over the area since 2016.
Court action was taken on 29 November 2019 to demonstrate that this decision by Lungu was not in accordance with the law.
READ MORE: Vedanta to defend KCM liquidation
Vedanta and the KCM board will 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.