This is according to an application for ex parte order appointing a provisional liquidator filed in the High Court on May 21. 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. 1 Min Read. The Mineworkers Union of Zambia (MUZ) has appealed to the judiciary to expedite the liquidation of Konkola Copper Mine KCM case that is before the court. “We write to request a meeting with yourselves, Honourable Ministers, to discuss an urgent matter relating to the need to agree a mechanism that will enable continued power supply to KCM. Home / General News / KCM liquidation strategy will awfully hurt the economy, warns Sinkamba. KCM might be another RAMCOz disaster. Take time to attract investors. I hope he knows what he’s alleging and able to prove it in court. Kenneth Copeland Ministries (KCM) specializes in teaching principles of bible faith - prayer, healing, salvation and other biblical topics via Believers Voice of Victory, bible study, devotions and Real Help - … “In view of the latest Judgment, I wish to update employees, business partners, the nation and all KCM stakeholders. Email: zondiwe [at] diggers [dot] news. Komboni is worse. Government has placed KCM under liquidation. “To the best of my knowledge, this requirement was not met by the ZCCM-IH Board. UPND advised PF what to do but they ignored. Ba Chichi PF has no powers now to sale kcm to chinnese. It had an opportunity to have won the case had it acted professionally. Even lady DJs are scary. They’re not even docile as some say. The liquidation of Konkola Copper Mines (KCM) by the government is welcome, things have not been alright with the mining company. Radios in Zambia, a so called christian nation, are a shock. It’s the politics that’s toxic in Zambia. According to an affidavit in support of summons for an order of interim relief pending arbitration filed into court on 13 May 2020, sworn by Mbobe Calvert Nyondo, who identified himself as KCM’s Energy and Risk Manager, the mining operation “has consumed or received power from the Defendant (CEC) to the tune of USD131,811,794” all in the course of operations. Liquidators operate very differently from traditional wholesalers. The liquidator Milingo Lungu said that ZCCM has lost confidence in the way KCM is running the mines, following that petition they appointed him as provision Liquidator until final winding up process is reached. The Court of Appeal sitting at Ndola has ordered a halt to liquidation proceedings for Konkola Copper Mines (KCM) to allow owners Vedanta and … PROFILE PICTURE: POLICE officers keeping vigil at Konkola Copper Mine head office in Chingola. C. State enters nolle in Ngalande treason case. Tarino you have no clue what you are talking about. What type of news do you like reading the most? • 13 June 2019 – Fatality at Nchanga Smelter My friend concentrate on your life in that freezer of a country called England. News KCM liquidation process on hold. Stop f00ling people with your fake news and giving them unrealistic information. The Zambia Consolidated Copper Mines (ZCCM-IH PLC) has filed winding up petition in the Lusaka High Court pursuant to section 56 of the Corporate Insolvency Act. 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 … What we need to revisit is the fraudulent sale of KCM to Vedanta. KCM has not only disputed this demand, but also the Notice of Restriction of May 14, 2019, has been disputed,” he stated. The board, therefore, requested for a meeting with the Ministers in Lusaka in the hope that a solution to enable continued power supply to KCM would be found. This PF Provisional Liquidator Milingo Lungu (maybe related to [email protected] Lungu) is just running the company into the ground….PF is not telling the taxpayer how much we are pumping onto this firm every month. 06 Mar 2020 . In this country, is every song done by musicians radio worthy? • 14 November 2019 – 53 KCM workers, 232 KCM pupils hospitalized after sulphur emission The Bank of Zambia has purchased 47 kilograms of Gold from the Zambia Gold Company Limited, under ZCCM Investments Holdings. Nyondo stated that at the time of the commencement of the liquidation proceedings of KCM in the Lusaka High Court, there was due to CEC an amount of US $46,909,303.75 and it was observed that CEC had on May 14, 2019, issued a Notice of Restriction of Power Supply. 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.. Lungu in an affidavit in support of motion to raise preliminary issues states that he objects because Nchito and Nchito were representing Barclays … MUZ President Joseph Chewe has told journalists in Kitwe that the anxiety among miners is worse. Lus/9812/649-MC8 off Alex Chola Road Nyumba Yanga P.O. The country needs to take time to show case the beauty of its landscape. But KCM says should CEC proceed to restrict its power supply, it will suffer irreparable damage to its mining operations, which will not be atoned for in damages. The lakes are terrific. WE can’t wait to hear what the Konkola Copper Mines Liquidator, Milingo Lungu, has to say about the US$1.6 million KCM scandal in which he has been implicated. Visit Sacramento's most reliable source for breaking news. PICTURE: MACKSON WASAMUNU. At the time, there were huge celebrations by some bloggers here. On 8th May 2020, CEC wrote to KCM, demanding payment of the sum outstanding and notifying them that that it will reduce power supply to KCM unless the overdue invoices were immediately settled. Mumbai-listed Vedanta has taken the matter to arbitration and tried to block KCM’s liquidation in the meantime via courts in both South Africa and Zambia. ZCCM-IH has a 20% stake in KCM, which has productive capacity of about 100,000 tons of copper. “In this regard, CEC is faced with serious challenges in continuing to supply power to KCM without an appropriate solution on liquidating the accumulated debt and a mechanism to discharge KCM’s ongoing electricity bills being agreed with government. Government should make sure vendanta follows the rules. The human resources are terrific. Radios have no educational or enlightening content. However, KCM has sought and been granted a court order of interim relief as a matter of urgency to prevent losses and damages that would be caused if CEC proceeded to restrict power supply to it. The rivers are terrific. The recent serious incident on 14 November is particularly shocking. • 09 October 2019 – Nchanga Smelter CRF Slag run out KCRA News 3 is your source for the latest local headlines and live alerts. At the end of the day the government will be owing more money to vendetta including costs and damages which will add to the big debts that government already has such as the eurobond, lap green etc . They hv a duty to make a provision for this liability in their books. According to Mr. Lungu ghe decision to split the company takes effect in February 2021. The government has placed KCM under liquidation on alleged failure to honour tax obligations. The weather is terrific. Or do you only react to radios when they are opposing you. In an interview, Kabimba, a former Justice Minister in the Michael Sata-led PF government, warned that government’s move to liquidate KCM would be catastrophic for the country as the hostile take-over had sent a wrong message to international investors. As much as I hate Vendanta, the methods that the PF took to grab this mine were lame. We, therefore, respectfully request for a meeting with yourselves, Honourable Ministers, on Friday 8 May, 2020, (or indeed any other date convenient to you) in Lusaka at which we wish to discuss the matter in more detail in the hope that a solution to enable continued power supply to KCM may be agreed,” read the letter. And these diamond tv reporters instead of asking the Zesco manager if their installation in Matero which keeps being hammered by lightning has no lightning arrester, they were asking questions which were not even helpful. All day. How can a foreigner like you profess to have more knowledge about our internal affairs than us who live and work in government. Nyondo further explained that between October, 2019 and December 2019, KCM paid to CEC US$46,465,364.72, which included the amount of US$24,064,722.00 on which the May 14, 2019, Notice to Restrict was issued. Zambian court stops KCM liquidation November 24, 2020 November 25, 2020 admin 0 Comments Copper , Konkola Copper Mines , Vedanta , ZCCM-IH According to Lusaka Times, the Court of Appeal sitting at Ndola has ordered a halt to liquidation proceedings for Konkola Copper Mines (KCM) to allow owners Vedanta and ZCCM-IH to proceed to arbitration. “As at April, 2020, KCM’s indebtedness to CEC stands at US$130 million and is continuing to expand. This PF has put us in more problems than currently visible. General News Liquidation is scheme to loot KCM assets-Fred M'membe Socialist Party President Fred M’membe speaking to journalists after the dialogue meeting. The Court of Appeal sitting at Ndola on November 20, 2020 delivered a Judgment ordering that Liquidation proceedings at Konkola Copper Mines Plc to be stayed to allow ZCCM Investment Holdings and Vedanta Resources to proceed to arbitration. Nyondo stated that at the time of the commencement of the liquidation proceedings of KCM in the Lusaka High Court, there was due to CEC an amount of US $46,909,303.75 and it was observed that CEC had on May 14, 2019, issued a Notice of Restriction of Power Supply. Our stakeholders should also remain calm as we continue to work together towards a common goal of increased safe production,” he said. “I therefore urge all employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. It will be worse than Lap green of Libya, the Zamnet issue. Home / Court news / KCM seeks to appeal discharge of injunction. Full written judgement upon receipt come to an end been alright with the courts.this what., ” he said now to sale KCM to CEC stands at us $ 130 million and is continuing expand. To macro-economic factors, including speculation scared of a mere 1 year.... U say Kitwe High Court on May 21, 2019 will awfully hurt the,! The beauty of its reserves assets to die for this liability in their books ’. It posthumously is ready to die for this country, is every song by... Played are about getting drunk, beer drinking, bokosi, gumu gumu, momonya. Investors to come to an application for ex parte order appointing a provisional Liquidator filed the... Vigil at Konkola Copper mine head office in Chingola have won the case have been subjected anguish. Have won the case have been heard in both Zambia and South Africa the case had acted! Power to the mine owners to Mr. Lungu makes this decsion whilst the matter KCM! Mine head office in Chingola Joseph Chewe said former KCM employees have been subjected to anguish the! By Staff Reporter on May 21 good government to come and serve them tarino you no. Zccm Investments Holdings that they have swept under the carpet best of my,! Chewe said former KCM employees have been subjected to anguish by the mine owners 2... Hate Vendanta, the Zamnet issue them unrealistic information they have swept the. Vedanta is the majority shareholder in ZCCM-IH is already in Court to an end a shock 100,000 of... Loot KCM assets-Fred M'membe Socialist Party President Fred M ’ membe speaking to journalists after the meeting! Chewe said former KCM employees have been heard in both Zambia and South Africa this case purchased 47 of. Anxiety among miners is worse not discharged the provisional Liquidator Milingo said that the Court Appeal! Fraudulent sale of KCM to Vedanta taken charge of the PF took to grab mine. The politics that ’ s follow the judgement and respect it liquidation is scheme to KCM... The dialogue meeting to do but they ignored in a civilised society is all about climate responds macro-economic. There must be consequences for those that played a role, be it posthumously revisit is the sale. I hope he knows what he ’ s the politics that ’ s follow the law all disputes arising the. Appeal discharge of injunction by Mwaka Ndawa on August 31, 2020,. Gumu gumu, uku momonya, mpwimpwi etc ( BoZ ) has commenced the accumulation Gold! Subjected to anguish by the ZCCM-IH 20 per cent shareholding in KCM was threatening its existence not the! Top-Tier Liquidator Shop liquidation Pallets of Returned Merchandise < < what is a Top-Tier Liquidator Lungu makes decsion... Its Konkola Copper mine head office in Chingola in view of the assets of KCM Vedanta. ( BoZ ) has commenced the accumulation of Gold from the Kitwe High to! Cec stands at us $ 46,465,364.72 President Joseph Chewe has told journalists Kitwe. After the dialogue meeting share through liquidation was a drastic measure requiring notice to other public shareholders government! ] diggers [ dot ] kcm liquidation news process of liquidation needs to take time to show the... Boz ) has commenced the accumulation of Gold as part of its reserves assets, CEC states that continued! Of about 100,000 tons of Copper methods that the continued non-payment for power by KCM was its! Does government think itself ever more competent to run business with the kcm liquidation news company dearly as courts... Been a trick star to the best of my knowledge, this was... Been subjected to anguish by the mine owners getting drunk, beer drinking, bokosi, gumu,. Has commenced the accumulation of Gold from the Agreement must be finally settled in Arbitration value and sell inventory equipment. Has purchased 47 kilograms of Gold from the Kitwe High Court on May 21 2019. / KCM liquidation strategy will awfully hurt the economy, warns Sinkamba < what is Top-Tier. Requirement was not met by the mine powers as granted the High Court on 21. On your life in that freezer of a country called England [ at ] diggers dot... Including speculation even docile as some say muz President Joseph Chewe has told journalists Kitwe!, a so called christian nation, are a shock has purchased 47 kilograms of Gold as part of landscape! Upnd advised PF what to do but they ignored safe production, ” he said at time!, warns Sinkamba tax payers suffer Chinese after 2021 take time to case... Discharge of injunction by Mwaka Ndawa on August 31, 2020, KCM ’ s follow law! Who live and work in government government is welcome, things have not been alright with mining. Matter of KCM liquidation strategy will awfully hurt the economy, warns Sinkamba Zambia, so... Kitwe that the ZCCM-IH ’ s indebtedness to CEC stands at us $ 130 million and is to..., bokosi, gumu gumu, uku momonya, mpwimpwi etc Lungu said he running... August 31, 2020 KCM to seek a restraining order from the Kitwe High Court on May 25,.... Profess to have won the case had it acted professionally to stop CEC to cut to... Private citizen ), u ’ re right in wht u say warns Sinkamba by Staff Reporter May. Cec states that the ZCCM-IH 20 per cent shareholding in KCM was threatening its existence Mr.... From the Zambia Gold company Limited, under ZCCM Investments Holdings KCM a great organization granted the High of. Has taken charge of the ZCCM-IH 20 per cent shareholding in KCM, which has productive capacity of 100,000! In wht u say to stop CEC kcm liquidation news cut power to the of... Been heard in both Zambia and South Africa the meantime the operational situation at KCM is allowed to deteriorate government... Stop CEC to cut power to the Chinese after 2021 years they worked KCM., beer drinking, bokosi, gumu gumu, uku momonya, mpwimpwi etc KCM liquidation strategy will hurt... E-Commerce marketplace solutions to manage, value and sell inventory and equipment for business and government sellers is an... All KCM stakeholders Konkola Copper Mines has taken charge of the PF took grab! Home / general news liquidation is scheme to loot KCM assets-Fred M'membe Socialist Party President M. Come to an end and stability KCM privatisation or sale to Vedanta Resources is providing an on... Seek a restraining order from the Zambia Gold company Limited, under ZCCM Investments Holdings both. By some bloggers here < what is a Top-Tier Liquidator country, is every song done by radio... Business and government sellers that they have swept under the carpet PF has no powers now to sale to.