ZAMBIA has appointed a felony firm to act as provisional liquidator of Konkola Copper Mines (KCM), the assets owned by means of Indian firm, Vedanta.
Citing a court docket document, Reuters said Zambian legislations firm Lungu Simwana & company had been appointed as administrator. This comes a day after Zambian president, Edgar Lungu, stripped KCM of its mining licence. The government plans to introduce a new investor.
Vedanta said yesterday it was searching for an pressing meeting with the govt after Lungu stated his nation would are looking for a divorce between the KCM operator and itself.
during a discuss with to the copperbelt on Friday, Lungu spoke of: "I need to make it very clear that I have come here to sanction, if it's the will of the Zambian americans, that we divorce these mines … My place is that enough is satisfactory. The attorney common is right here, the attorneys are here. they'll guide us the way to proceed with this divorce".
Amos Chanda, a spokesman for the presidency, mentioned the nation was not planning to nationalise its mining assets.
"KCM is yet to get hold of formal verbal exchange from the govt of Zambia on this, even though it has sought an urgent assembly with the President and/or the Minister of Mines," the enterprise noted in a statement
Vedanta mentioned the intention of KCM turned into "… to proceed to have interaction with the government in a useful and clear manner". It brought that via its investment vehicle, ZCCM-IH, the Zambian executive had been totally apprised of decisions it had made.
It had invested about $3bn for the reason that purchasing the Konkola belongings and employed about 13,000 people at its mines and associated infrastructure in the nation.
No comments:
Post a Comment