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Vedanta Resources Holding Limited has formally resumed control of the operations of Konkola Copper Mine (KCM) following a key legal development. The Lusaka High Court lifted the liquidation status of KCM after ZCCM-Investment Holdings (ZCCM-IH) withdrew its winding-up application against the mine.
In a recent ruling, Lusaka High Court Justice Charles Kafunda granted an ex parte order allowing the withdrawal of a winding-up application filed by ZCCM-IH. The ruling marks a significant turning point in KCM’s legal and operational saga.
The court ruling has resulted in the reinstatement of the KCM board and the removal of provisional liquidator Celine Mena Nair. Vedanta Resources has regained control, marking a new phase for the mining business, which had previously been under intense legal and financial scrutiny.
Justice Kafunda also said that neither Vedanta Resources nor ZCCM-IH would bear the legal costs associated with the litigation.
This development is expected to bring new stability to KCM and could have a positive impact on the Zambian mining industry.
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