Vedanta Resources Takes Over Konkola Copper Mines Operations Following Legal Settlement

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Vedanta Resources Holding Limited has officially resumed control of Konkola Copper Mines (KCM) operations following a pivotal legal development. The Lusaka High Court has lifted the liquidation status of KCM after ZCCM-Investment Holdings (ZCCM-IH) withdrew its winding-up petition against the mine.
In a recent ruling, Lusaka High Court Judge Charles Kafunda granted an Ex-parte Order that allows for the withdrawal of the winding-up petition filed by ZCCM-IH. This decision marks a significant turning point in the legal and operational saga surrounding KCM.
The court’s ruling has led to the restoration of KCM’s Board of Directors and the removal of the provisional liquidator, Ms. Celine Mena Nair. The return of control to Vedanta Resources signifies a new phase for the mining operation, which has been under legal and financial scrutiny for an extended period.
Judge Kafunda also stated that neither Vedanta Resources nor ZCCM-IH will bear the legal costs associated with the proceedings.
This development is expected to bring renewed stability to KCM and potentially impact the broader Zambian mining sector positively.
Only time would tell…nothing to be excited of..vedanta is vedanta ain’t nothing changed..
Yes let’s wait and see.
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