4 days. Watch now | India's premier event for web professionals, goes online! [Full text of the High Court decision ordering Konkola Copper Mines to pay each claimant 4 million kwatchas (today worth US $800) in general damages 1 million kwatches ($200) in punitive damages, a total of $1,000 per claimant and a total of US $2million in damages for the entire group.] Commenting on the appointment, Vedanta Resources chairman, Anil Agarwal said: ‘’I’m delighted that we have a woman leader from Africa at the helm of our African operations.". Firefinch reports first gold pour at Morila mine in Mali . Follow our special coverage of Coronavirus pandemic in India and get news updates from around the world. ZCCM-IH did not immediately reply to a request for comment. Vedanta welcomes South African court decision to block sale of Zambia mines 25 Jul, 2019, 09.18 PM IST Further, the company said it is unable to comment on the process currently underway in Zambian courts. MEDIA STATEMENTS View all. Vedanta Plc has an annual interest outgo of Rs 0.4 billion and since it does not generate any cash of its own, it depends on Vedanta Ltd and Konkola Copper Mines (KCM) to service this interest payment. The vice president of Zambia Dr. REUTERS Vedanta wins Zambian appeal in Konkola Copper Mines case 2020-11-20. JOHANNESBURG (Reuters) - Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. Let's reshape it today, Hunt for the brightest engineers in India. A Zambian court on Friday ordered a stay on liquidation proceedings for Konkola Copper Mines to allow owner Vedanta and state mining investment company ZCCM-IH to proceed to arbitration, the... | December 29, 2020 Orla starts earth moving at Camino Rojo gold project in Mexico . Latest Annual Report Extracts; Latest News; Document Uploads; Profile Brief. Get the latest copper investment news, stock reports, prices and learn about the best companies and projects in the copper investment space. And Mateyo has expressed confidence that the rise in copper prices could spur investment in the Zambian mining industry. ................................ Advertisement ................................ 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Konkola Copper Mines informs that the 20-year Power Supply Agreement (PSA) between CEC and KCM expired on 31st March 2020, and was extended by mutual agreement to 31st May 2020. Kamoa-Kakula Copper Project Mines and Stockpiles 269,000 Tonnes of Ore from the Kakula and Kansoko Mines in December, at an January 5, 2021, 7:15 AM EST Read latest news and live updates on Konkola-copper-mines including breaking news on Konkola-copper-mines,Konkola-copper-mines photos,Konkola-copper-mines videos and many more at cnbctv18.com. Read all news including political news, current affairs and news headlines online on Konkola Copper Mines … Lundin reaches agreements with unions at Candelaria copper mine . … 3 days. MCA unveils plans to aid development of Australia’s future workforce . Zambia’s mining firm stops operations on tax concerns . Legal arguments over the case have been heard in both Zambia and South Africa. But Lungu has vehemently denied the allegation, calling Kambwili a pathological liar who thrives on misinformation. Latest News. KONKOLA Copper Mines Plc ceased to be a member of the Zambia Chamber of Mines because the mining company stopped paying the required subscription fees, says Chamber president Goodwell Mateyo. NEWS DIGGERS Milingo should comply with Court of Appeal’s decision – Sinkamba 2020-11-23. Explore more on Konkola. SIX months have passed since the Zambian government opened court proceedings to liquidate Konkola Copper Mines (KCM), but the firm’s majority shareholder, Vedanta Resources, is none the wiser as to the assets’ fate. Track Latest News Live on NDTV.com. Tomorrow is different. NDC leader Chishimba Kambwili has accused Konkola Copper Mine (KCM) provisional liquidator Milingo Lungu of transferring K100 million from the company’s bank account and depositing it into his law firm’s account. Konkola Copper Mines (KCM) is one of Zambia's largest copper producers and one of the largest private sector employers in the country. Latest News. JOHANNESBURG - UK-based Vedanta Resources said on Monday it was opposing the liquidation of Konkola Copper Mines (KCM) operations in Zambia. Any potential buyer of the KCM assets would be party to an unlawful act, Vedanta said, because a Zambian court last month ordered a halt to liquidation proceedings. Find Konkola Latest News, Videos & Pictures on Konkola and see latest updates, news, information from NDTV.COM. The Guixi copper smelter run by Jiangxi Copper Co. in China is currently the world’s biggest, producing 900,000 tons of the metal a year, according to the International Copper Study Group. A South African court Tuesday granted Vedanta Resources an order blocking the liquidation of its Zambian-based Konkola Copper Mines (KCM) company amid a … 3 days. LUSAKA, Nov 20 (Reuters) – A Zambian court on Friday ordered a halt to liquidation proceedings for Konkola Copper Mines (KCM) to allow owners Vedanta and ZCCM-IH to proceed to arbitration, the provisional liquidator said in a statement. The Vedanta group has moved closer towards the creation of a mega natural resources company with the High Court of Bombay at Goa approving the creation of Sesa Sterlite. Lundin reaches agreements with unions at Candelaria copper mine . Reuters. November 19, 2019. “Konkola Copper Mines plc (KCM) regrets to announce the death of Konkola Blades Football Club Chairman Bernard Mwanza on Thursday, 16th April 2020 after a short illness. Join financial experts to secure your golden years with early planning. KCM … Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. The long legal fight with Zambia began in May 2019, when Lusaka appointed a liquidator for KCM, which is jointly owned by Vedanta and Zambia's state mining arm ZCCM-IH. Konkola Copper Mines’ liquidation halted News Metal king Anil Agarwal wants to hand over the reins of his $ 14-billion Vedanta Group to a professional chief executive over the next 3-4 years. "It is going to take some time for the new supply in oil, iron ore and copper to get absorbed in the market. 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. (Adds statement from Vedanta) By Chris Mfula. BLOOMBERG Zambia Plan to Sell Billionaire’s Mines Stuck in Legal Mire 2020-11-13. Konkola Copper Mines, alleging the unit lied about expansion plans and cheated on taxes. NEWS DIGGERS Proposed date for commencement of KCM arbitration is in Nov 2021 – Musukwa 2020-11-27. Vedanta had announced plans to retrench over 1,500 staff as mechanisation at its mines of KCM is complete and the company needs to optimise costs. Company Profile. 3 days. Watch Live. ZCCM-IH plans to appeal the ruling. Load More. JOHANNESBURG, Dec 10 (Reuters) - Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. Further, the company said it is unable to comment on the process currently underway in Zambian courts. For reprint rights: Axis Bank is conservative but keen on growth: CEO, WHO expert visit to China under negotiation, India has now 73 Covid cases with the UK strain, D-Mart’s Radhakishan Damani set to acquire 8-acre Thane plot from Mondelez, Invesco India Largecap Fund Direct-Growth, Serum, Bharat Biotech jointly pledge for smooth vaccine roll out. Indian-based metals and mining group Vedanta Resources said Thursday it would fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. Zambia, in taking that action, accused Vedanta of breaching its license. "Take Me Back": A Carton Recycling Program In Chennai. ZCCM Investments Holdings, a … The decks have been cleared for the much-delayed merger between Vedanta group companies Sesa Goa and Sterlite Industries, with final regulatory clearance received in the form of approval from the Bombay High Court. 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. Get all the latest news and updates on Konkola Copper Mines only on News18.com. When asked whether the creation of KCM subsidiaries by Provisional … 3 days. Vedanta Resources has appointed Tom Albanese, former Chief Executive of Rio Tinto, as chairman of its subsidiary Vedanta Resources Holdings Ltd. Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. KCM is Zambia’s largest integrated copper producer, with an entire production value chain comprising of open pit and underground mines, concentrators, a state-of-the-art smelter, a tailings leach plant and a refinery. Konkola Concentrator. In a statement responding to “rumours” that a Zambia government-appointed provisional liquidator is set to split KCM into two units and sell them, Vedanta said it would take “all necessary steps” to safeguard its interests in KCM. Guy Scott visited the facilities of Vedanta Group company Hindustan Zinc, one of largest integrated zinc producer. KONKOLA COPPER MINES. It will easily be another year or two," said Tom Albanese. Zambia: Pollution of Kafue River by Konkola Copper Mines leads to serious water shortage in the region. Konkola Copper Mines (KCM) is one of Zambia's largest copper producers and one of the largest private sector employers in the country. Indian-based metals and mining group Vedanta Resources said Thursday it would fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. The South Gauteng High Court granted Vedanta Resources an urgent interim order blocking minority shareholder Zambia Consolidated Copper Mines.
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