LOW copper output at its Zambian unit Konkola Copper Mines (KCM) in Chingola has cost Vedanta Resources an 8.5 per cent drop in annual copper earnings on the global market. According to the global miner’s latest preliminary market report released this weekend, KCM recorded a … [citation needed]Operations. Enter your email address to subscribe to this blog and receive notifications of new posts by email. The imported concentrates are required for smelter and blending operations. Legal arguments over the case have been heard in both Zambia mining group Vedanta Resources said on Thursday it Zambia: Government to strip Vedanta subsidiary Konkola Copper Mines of mining license over alleged license breaches Content type: Article Date: 20 May 2019; Konkola Copper Mines Negligence Blamed for Kafue River Pollution [Zambia] Content type: Article Date: 15 Nov 2006 Published: 26 August 2019 There has been vigorous debate about Zambia’s proposed migration from the Value Added Tax (VAT) system to a Sales Tax since it was first announced in September 2018. The decision to go to arbitration will prove to be a costly mistake for the country. ZCCM-IH did not immediately reply to a request for comment. Dr Chilufya says this is out of the 99 tests carried out in the last 24 hours. Peter Hug, Gold continues its ascent to higher pricing, Gold SWOT: a banner year for gold bullion and gold mining stocks, Tuesday's Forex Analytical Charts, January 5, Tuesday's Charts for Gold, Silver and Platinum and Palladium, Jan. 5. The country is currently embroiled in a legal dispute with Vedanta Resources over ownership of Konkola Copper Mines in which ZCCM-IH, a state-owned company, has a 20.6% stake. Konkola Copper Mines (KCM) has set aside K1.2 million for stocking all consumables and supplies that will be used in the fight against coronavirus at Nchanga South Clinic which the mining company has surrendered to government as a quarantine centre for a suspected case of the deadly virus. Konkola Copper Mines (KCM), a subsidiary of Vedanta Resources, has stopped operations at its Nchanga mine in Zambia due to import duties on copper concentrates. Ms Tonga added that if all stakeholders could emulate KCM by partnering with government, the deadly disease can be contained. 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. Wikipedia. Vedanta is a good corporate citizen and is committed to making a positive 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. He said the facility, which was an outpatient department for the mining firm, will be used as a quarantine centre for COVID 19 suspected cases in a bid to fight the pandemic. Find Konkola Copper Latest News, Videos & Pictures on Konkola Copper and see latest updates, news, information from NDTV.COM. Chingola Agent's for Houses to Rent,sell and buy. unlawful act, Vedanta said, because a Zambian court last month 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. JOHANNESBURG, Dec 10 (Reuters) - Indian-based metals and Zambia is Africa’s second-largest copper producer, with copper mining accounting for around 70% of foreign currency earnings, said Reuters. He explained that additionally, KCM has also put up activities to sensitise workers on precautionary measures to combat the further spread of the coronavirus. “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. And Mateyo has expressed confidence that the rise in copper prices could spur investment in the Zambian mining industry. The protracted 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. ordered a halt to liquidation proceedings. In a statement responding to "rumours" that a Zambia Konkola Copper Mines Plc(KCM) is a subsidiary of Vedanta Resources plc,a London-listed resources and mining copper. Konkola Copper Mines 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 Copper Mines, alleging the unit lied about expansion plans and cheated on taxes. owned by Vedanta and Zambia's state mining arm ZCCM-IH. Konkola Copper Mines (KCM) business to third parties. 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. Informing its employees, KCM stopped operations from 4 January due to a drop in the availability of acid. Engineering Service. ZCCM-IH plans to appeal the ruling. 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. necessary steps" to safeguard its interests in KCM. The delays are caused through some banks’ internal arrangements including the inward and outward clearing of cheques are … Read More » A Zambian court on Friday ordered a stay on liquidation proceedings for Konkola Copper Mines (KCM) to allow owners Vedanta and ZCCM-IH to proceed to … 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. Wyckoff, Gold and silver move slightly lower heading into the EU open, Dollar squeezed as Georgia counts crucial Senate votes, Conic reports Ramu exceeded its production capacity in 2020, What happens to gold after Georgia Runoffs? The company's Konkola Deep Mining Project will expand its capacity to 6 million tons of ore … And Chingola District Commissioner Agnes Tonga, who toured the facility, has thanked KCM for supplementing government’s efforts in fighting COVID 19. A two-hour power outage at Konkola Copper Mines on Monday caused flooding at Shaft One in Chililabombwe, leaving 28 miners trapped underground before power was restored. Mr Shachinda told ZANIS that the funds released will be used to ensure that the facility has all the supplies needed. We operate across the following core business sectors;Zinc-Lead-Silver,Copper,Aluminium,Iron ore and Energy, with operations located in geographies spanning India,Australia,Zambia,South Africa, Namibia and Ireland. into two units and sell them, Vedanta said it would take "all Any potential buyer of the KCM assets would be party to an Konkola Copper Mines Joins the fight against coronavirus, In other news – President Edgar Lungu orders for immediate recruitment of Health Personnel, KCM acting General Manager Corporate Affairs, President Edgar Lungu orders for immediate recruitment of Health Personnel, All Covid 19 donations will go to vulnerable People, Uproar over convicted Dudley Fichite’s attachment to Prison Leopards F.C, Kabwe deputy mayor Billy Sichamba tests positive for COVID-19, Renowned Clergyman Prophet Isaac’s prophecy on the upcoming elections leaves President Lungu in panic mode, Shock as Solwezi close cousins tie the knot, COVID-19 positive Japhen Mwakalombe, last seen with Mutale Mwanza at Zacharia Chavula’s funeral – Photo, Copperbelt Minister Japhen Mwakalombe tests positive for COVID-19, Kembe MP Princess Kasune Zulu pens a touching message as she turns 45, Ministers who fail to pay back set to be banned from 2021 polls, Zesco boss in hot soup as side chick leaks his n#des, President Lungu allegedly planning on imposing tougher lockdown conditions. KCM acting General Manager Corporate Affairs Shapi Shachinda said the mining firm has decided to offer the facility to government during this period until the COVID 19 cases are over. “The Minister of Mines further asserts that there are companies waiting to buy Konkola Copper Mines Ltd. All these statements are demonstrably false. Zambia, when Lusaka appointed a liquidator for KCM, which is jointly London; Editing by Bill Berkrot), Analytical Charts - Jim But Konkola Copper Mines (KCM) Provisional Liquidator Milingo Lungu has explained that immediately after the incident happened, emergency protocol procedures were effected, adding that no fatalities or damage to … Konkola Copper Mines. Explore more on Konkola Copper. Mining Assets. and South Africa. The protracted legal fight with Zambia began in May 2019, 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. Konkola Copper Mines. President Edgar Lungu has ordered the immediate recruitment of 4 -hundred doctors and 3 thousand paramedics to fight the Covid-19 pandemic in Zambia. Dr Chilufya was speaking during the Covid-19 press briefing in LUSAKA today. government-appointed provisional liquidator is set to split KCM And Health Minister Dr Chilufya says Zambia has not recorded a new case of Covid-19 in the last 24 hours. Konkola Copper Mines, a unit of Vedanta Resources Plc, has cited challenges faced by some commercial banks in Zambia as reason for delays in paying its workers monthly wages, local media reported. KCM currently produces 2 million tons of copper ore per year. will fight any attempt by the Zambian government to sell its (Reporting by Helen Reid in Johannesburg and Zandi Shabalala in Read more. INTERNATIONAL - Zambia’s Konkola Copper Mines (KCM) smelter was on Wednesday shut down for annual maintenance two days earlier than planned after a … A South African court Tuesday granted Vedanta Resources an order blocking the liquidation of its Zambian-based Konkola Copper Mines (KCM) company amid a … LUSAKA: 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. 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 … Zambia: Government to strip Vedanta subsidiary Konkola Copper Mines of mining license over alleged license breaches Author: Chris Mfula, Reuters, Published on: 20 May 2019 "Zambia seeks 'divorce' from Vedanta over alleged mining breaches", 20 May 2019. Konkola Copper Mines (KCM) has set aside K1.2 million for stocking all consumables and supplies that will be used in the fight against coronavirus at Nchanga South Clinic which the mining company has surrendered to government as a quarantine centre for a suspected case of the deadly virus. 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. in taking that action, accused Vedanta of breaching its license. Konkola Copper Mines is a copper mining and smelting company in Zambia.It is a subsidiary of Vedanta Resources, a mining conglomerate based in Mumbai and London.Konkola's name is abbreviated to KCM. Wyckoff, Where Are the Stops - Jim KCM acting General Manager Corporate Affairs Shapi Shachinda said the mining firm has decided to … Ms Tonga added that if all stakeholders could emulate KCM by partnering with government, the deadly can. Case have been heard in both Zambia and South Africa, accused Vedanta of breaching license! 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