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Vedanta to meet Zambian government over Konkola Copper Mine liquidation-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
5/31/2019 - Copper exhibition -non-ferrous metals expo |
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IOL reported that UK based Vedanta Resources is opposing the liquidation of Konkola Copper Mines operations in Zambia. Vedanta chief executive Mr Srinivasan Venkatakrishnan said the company is concerned about what the appointment of a provisional liquidator meant for the people in Zambia, their communities and the future of the business.
Vedanta said the ZCCM petition called for the winding up of KCM on the basis of fairness and equity rather than on grounds on insolvency, a misuse of Zambia’s corporate law given that the parties had agreed a specific dispute mechanism in the shareholders’ agreement.
Mr Venkatakrishnan said that "While Vedanta intends to fully defend its legal rights, we remain open to dialogue. We hope to meet with the Zambian government in the near future to discuss a mutually agreeable solution to the current situation as well as the broader challenges faced by KCM. The sooner we resolve the uncertainty around the business, the sooner we can return it to a sustainable footing."
ZCCM Investments Holdings, a state-owned entity with a 20.1% shareholding in KCM, last week obtained an order from the High Court of Zambia to wind up the mining company and appoint a provisional liquidator. On Friday, the court appointed Milingo Lungu as provisional liquidator and he is now in charge of day to day running of the company. Lungu has said business will continue as usual.
有色金属展-铜材展-2019年广州国际有色金属工业（铜业）展览会
-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
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