There are no programs on youth upliftment, what businesses youths can get into. It will be worse than Lap green of Libya, the Zamnet issue. Plot No. Our stakeholders should also remain calm as we continue to work together towards a common goal of increased safe production,” he said. What country is pf running really? Excellent to see all parties complying with the courts.this is what living in a civilised society is all about. PF will fight hard to hold on it for them t raise campaign funds then sell it to the Chinese after 2021. The ruling by the Court of Appeal represents a significant win for Vedanta, which is seeking the removal of the liquidator appointed by state mining investment firm ZCCM-IH – which owns 20% of KCM on the government’s behalf – to run the company. 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. Lus/9812/649-MC8 off Alex Chola Road Nyumba Yanga P.O. “In view of the latest Judgment, I wish to update employees, business partners, the nation and all KCM stakeholders. ZCCM-IH has a 20% stake in KCM, which has productive capacity of about 100,000 tons of copper. Nothing of farming as ventures for youths. 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. CHOMBA MUSIKA, Lusaka LUSAKA High Court judge Annessie Banda-Bobo has stayed winding up proceedings of Konkola Copper Mines (KCM), pending appeal of … Im not a politician but some of the advise UPND offer are genuine and you can even tell that they are capable of ruling this country. • 14 November 2019 – 53 KCM workers, 232 KCM pupils hospitalized after sulphur emission 1 Min Read. • 13 June 2019 – Fatality at Nchanga Smelter The natural resources are terrific. Like what is radio language or topics. A spokesman for Vedanta said: “Vedanta notes reports of the judgement from The Court of Appeal ruling in favour of Vedanta on all counts, with costs being awarded to Vedanta and with the winding up proceedings being stayed.”. This moved KCM to seek a restraining order from the Kitwe High Court to stop CEC to cut power to the mine. KCM might be another RAMCOz disaster. The price of emotion over reason. Acting emotionally and showing off does not pay. Stop f00ling people with your fake news and giving them unrealistic information. Mr Lungu said he retains the full powers as granted the High Court of Zambia on May 21, 2019. Vedanta Resources, owned by Anil Agarwal of India, is the parent company of Konkola Copper Mines (KCM), with 79.4 shareholding portfolio. Legal arguments over the case have been heard in both Zambia and South Africa. I did remind them that this will cost us dearly as international courts will rule against the state. 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. He added that the said PSA lapsed by effluxion of time on March 30, this year, and that by a letter dated April 17, 2020, and executed by KCM and CEC, the PSA was extended to May 31, 2020. “I therefore urge all employees to continue working normally, safely and remain steadfast in the pursuit to make KCM a great organization. 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 - … 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 . 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. My friend concentrate on your life in that freezer of a country called England. 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 … Further, that operations of KCM remain on course with safe production ramp-up being the key focus as the company continues to engage with its business partners in a normal way,” he said. ZCCM-IH should disclose hw much they hv been condemned to in costs. 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. 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. Take time to attract technology. The India-based group has been locked in a dispute with the Zambian government since May last year, when the PF government appointed the liquidator. I hope he knows what he’s alleging and able to prove it in court. 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. As much as I hate Vendanta, the methods that the PF took to grab this mine were lame. UPND advised PF what to do but they ignored. 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. This is according to an application for ex parte order appointing a provisional liquidator filed in the High Court on May 21. Sinkamba contended that the ZCCM-IH 20 per cent shareholding in KCM was a substantial part of the ZCCM-IH’s business. learnt that CEC would today restrict power supply to KCM as a result of the mining company’s failure to settle the accumulated electricity bill. Why does government think itself ever more competent to run business? 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 … Take time to attract investors. In this case, the Zambian government, through ZCCM-IH took over KCM and initiated the processes of liquidation, a move that vedanta contested in the Lusaka High Court, and demanded that any dispute must be referred to arbitration. The liquidation of Konkola Copper Mines (KCM) by the government is welcome, things have not been alright with the mining company. C. State enters nolle in Ngalande treason case. “As at April, 2020, KCM’s indebtedness to CEC stands at US$130 million and is continuing to expand. Let’s follow the judgement and respect it. Vedanta is the majority shareholder in KCM with an 80% stake. MUZ President Joseph Chewe said former KCM employees have been subjected to anguish by the mine owners. We wish the likes of kambwili could respect court rulings. The recent serious incident on 14 November is particularly shocking. KCM seeks to appeal discharge of injunction By Mwaka Ndawa on August 31, 2020. Dr Makasa Kasonde(private citizen), u’re right in wht u say. Radios have no educational or enlightening content. There must be consequences for those that played a role, be it posthumously. Home / Court news / KCM seeks to appeal discharge of injunction. “In the course of the operations during the liquidation period, KCM has consumed or received power from CEC to the tune of US$131,811,794,” read the affidavit. Nyondo added that KCM in compliance with Clause 23 of the PSA intends to refer the said dispute to arbitration and prayed for interim relief as a matter of urgency so as to forestall the losses, damages and injury that will be consequent upon a restriction of power; which interim relief was granted. GOVERNMENT says the provisional liquidation of Konkola Copper Mines is not about the mine being insolvent but the government opting to terminate its partnership with Vedanta Resources. Populism and idiocy is what this is while tax payers suffer. How can a foreigner like you profess to have more knowledge about our internal affairs than us who live and work in government. Investment climate responds to macro-economic factors, including speculation. “It is the position of KCM, which position shall be articulated at the hearing that it is incumbent upon CEC to issue a fresh notice for their intended action as the earlier one has long since abated and the amounts in excess of the US$24,064,722.00 referred to, therein, have been paid by KCM to CEC.”. The next 2 years will reveal a lot that they have swept under the carpet. 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. “Vedanta will review the full written judgement upon receipt. I wonder how much money the government has pumped in. IndigoTyrol – We told them so they could have repossessed this entity through the right channels but our dumb President eager to please his corrupt advisers and friends rushed in even placing his Press Assistant and the real KZ on the liquidation board members. We can’t wait to see how the battle between the PF cadres is going to pan out and who will … “To the best of my knowledge, this requirement was not met by the ZCCM-IH Board. Agarwal, in a “personal message” published in the Zambia Daily Mail newspaper Wednesday, said the attempted liquidation of KCM “can only … 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. Shooters protected by the State, matter closed, Don’t be quick to judge PF, we’ve all done something wrong – Tilyenji. Provisional Liquidator Milingo said that the Court of Appeal has not discharged the Provisional Liquidator. November 21, 2020. KCRA News 3 is your source for the latest local headlines and live alerts. According to Mr. Lungu ghe decision to split the company takes effect in February 2021. • 15 July 2019 – Disposal of assets – Two Dumps Milingo Lungu A High Court judge has placed Konkola Copper Mines (KCM) under liquidation and appointed a PF cadre Milingo Lungu as provisional liquidator This follows ZCCM Investment Holdings PLC ‘s petition to the Lusaka High Court to to place KCM under liquidation in line with corporate insolvency laws of Zambia. In the said affidavit,t KCM Energy and Risk Manager Mbobe Nyondo, explained that KCM was among the consumers of CEC’s power pursuant to a Power Supply Agreement (PSA) dated March 13, 2000. The only time we have…. “That CEC, notwithstanding the said payment above have issued a demand notice for the amount of US$131, 811,794 and are seeking to restrict power supply to KCM based on their Restriction Notice of May 14, 2019, contrary to the terms of the Power Supply Agreement. KCM has not only disputed this demand, but also the Notice of Restriction of May 14, 2019, has been disputed,” he stated. This is the first stage of vendetta winning this case. Vedanta Resources is providing an update on the current situation affecting its Konkola Copper Mines (KCM) operations in Zambia. The Company employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government sellers. However, CEC states that the continued non-payment for power by KCM was threatening its existence. You are a danger to our country’s peace and stability. The rivers are terrific. Liquidity Services (NASDAQ: LQDT) operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. DJs only promote beer drinking & sex, both in comments & songs played. Komboni is worse. They’re not even docile as some say. For example, since February, 2019 to-date, KCM has been unable to make any cash payments towards electricity bills for power consumed at its operations,” read the letter in part. Tarino you have no clue what you are talking about. 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. The weather is terrific. The board stated that the winding up proceedings of KCM had impacted its ability to discharge some of its obligations, adding that since February, 2019, to-date, the mining company had been unable to make any cash payments towards electricity bills. 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. It is unclear if they will be paid for the years they worked for KCM. Kambwili said he is ready to die for this country and yet he is running scared of a mere 1 year imprisonment. The people are okay. Government has placed KCM under liquidation. • 10 September 2019 – Disposal of assets – Mimbula Resource It had an opportunity to have won the case had it acted professionally. • 28 October 2019 – 28 Miners trapped underground at Konkola All day. Songs played are about getting drunk, beer drinking, bokosi, gumu gumu, uku momonya, mpwimpwi etc. The Court of Appeal sitting at Ndola has ordered a halt to liquidation proceedings for Konkola Copper Mines (KCM) to allow owners Vedanta and … Vedanta Group of companies and its owner Anil Agarwal the Indian billionaire has been a trick star to the Zambian government. “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. Box 32147 Lusaka, Zambia, Telephone or WhatsApp: +26-097-7708285 +26-095-3424603 +26-096-5815078, Email: diggers [at] diggers [dot] news editor [at] diggers [dot] news, Zondiwe has interest in writing political and current affairs on issues which affect every Zambians. The human resources are terrific. KCM in liquidation. MUZ President Joseph Chewe has told journalists in Kitwe that the anxiety among miners is worse. Ba pf (Kaizer Zulu explain), do you have a policy on broadcasting in this country, like the dos & don’ts of radio DJ. For about a year the government has been fighting with Vedanta. Confusing, in the meantime the operational situation at KCM is allowed to deteriorate? 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. News KCM liquidation process on hold. This PF has put us in more problems than currently visible. Zambian Judiciary warns against discussing Konkola Copper Mines (KCM) liquidation case June 12, 2020 June 13, 2020 arnbethnic The Zambian 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. Documents filed into court by KCM include a letter written by CEC on May 6, this year, to the Ministry of Energy, Ministry of Finance and Ministry of Mines and Minerals Development requesting for a meeting to agree on a mechanism that will enable continued power supply to KCM. 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. 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. The Bank of Zambia (BoZ) has commenced the accumulation of gold as part of its reserves assets. 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