“Effective 1st February 2021, the new companies will begin to operate under the names KCM SmelterCo Limited, and Konkola Mineral Resources Limited, respectively, with two separate Management structures and employee arrangements. “All contracts for Contractors and Suppliers having existing contracts with KCM will be transferred to the two separate companies, which will be responsible for honouring and executing conditions and terms of those contracts starting from the effective date. Zambian Watchdog is an online news service that provides independent breaking news on and about Zambia. The government plans to introduce a new … Latest news and breaking news for Zambia, world, entertainment, politics, Style, Crime, Court, Religion and health at zambianobserver.com KCM SmelterCo Limited has been in existence since 2002 and fully owned by KCM but has been dormant. The article is full of innuendos intended to bring the PL’s name into disrepute and discredit the ongoing liquidation process. ... LATEST NEWS . In May 2019 Swedwatch released a report on unsustainable copper mining in Zambia. HE BROKE MY HEART IN 1000 PIECES.” – DANGOTE’S ALLEGED SIDE-CHICK. © 2021 Zambia Reports. Oliver Chisenga | July 13, 2019. And KCM assistant provisional liquidator, Mr Kutawa Chamunda stated that Konkola Copper Mines (KCM) is aggrieved by judge Phiri’s decision. IT HASN’T BEEN EASY… but I believed in myself – Iris. According to the global miner’s latest preliminary market report released this weekend, KCM recorded a slump of 19.2 per cent … 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 the company. So the president knows what has been happening, but he gave them a benefit of doubt. Those represented by the Mineworkers Union of Zambia (MUZ), the National Union of Mining and Allied Workers (NUMA) and the United Mineworkers Union of Zambia (UMUZ) will continue to be members of ther respecave unions, which are the recognized partners of Konkola Copper Mines,” he said. Latest News Kitwe Boy With Enormous Manhood Sues Parents | HE BROKE MY HEART IN 1000 PIECES.” ... general news. In an update on legal proceedings in which Vedanta is hoping to regain control of KCM, in which it has a 79.4% stake, the group cautioned potential buyers of the company’s mines that they might […] Economy Vedanta Resource releases latest statement on KCM. Mr Nyangu said despite all the incentives that the mines have been given, their contribution to the country’s gross domestic product (GDP) is still low at 10 percent. The Independent Observer is a product of Valour Media Limited a fully registered media house in Zambia.. Our Head office is based in Chingola on the Copperbelt. Zambia's largest copper mining operation, KCM, has been liquidated. Mponda said the basis conditions of service will remain unchanged adding that the employees’ basic conditions of service shall remain unchanged until after the Managements of the two Companies and Unions Collective Bargaining commences “and to concluded as per agreed calendar of negotiations, Further details on employees’ circumstances will be explained 1n individual letters to be issued to all the employees. Latest Annual Report Extracts; Latest News; ... 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. Polo Club hosts Lusaka July. The arbitration process between Vedanta and ZCCM-IH is ongoing. All employees, business partners and other stakeholders should endeavor to protect this important organization, Konkola Copper Mines, which is not only the biggest private sector employer but also occupies a strategic position in Zambia’s economy.”. KCM SmelterCo Limited or Konkola Mineral Resources Limited. “i.e. This means that the employees for the third party companies will be retained by their employers because there will be no material changes made that could alter the existing contracts, apart from the novation of the commercial Contracts from KCM Plc to Konkola Mineral Resources Limited and/or KCM SmelterCo Limited,” he said. KCM, which is 20% owned by Zambia’s state mining company ZCCM-IH and 80% by Vedanta, has been accused of violating its licence terms, reported Reuters. 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. On the 23rd December 2019, News Diggers again reported a fabricated story that several miners were trapped underground and the KCM was experiencing major maintenance problems since the liquidation process commenced. Zambia to appeal court ruling backing Vedanta in KCM mine row November 28, 2020 November 28, 2020 Janet Zambia’s state mining arm ZCCM-IH plans to appeal a court decision that ruled in favour of Vedanta, which has sought arbiration in a dispute over the jointly owned copper mine that is facing liquidation, the mining minister said. Zambia, in taking that action, accused Vedanta of breaching its license. 1. Management will continue to provide updates whenever it is necessary. This is not the first time that such false allegations of impropriety have been made as can be proved from some of the headlines highlighted below: “There will be no changes to the existing structures of union representation for the unionised employees. Our mission is to independently and objectively give our readers factual and balanced news that will help in good governance, democratization, policy making and implementation, transparency, justice dispensation … The Provisional Liquidator has noted a systematic and consistent fabrication of stories against the company by the News Diggers, whose intention is to create falsehoods that there is failure in the managing the company. Top US dance company to tour Zambia. Vedanta pledges $700 million to the growth of Konkola Copper Mines, Zambia 12 Apr, 2018, 09.57 PM IST. The report titled Copper with a cost – Human rights and environmental risks in the minerals supply chains of ICT. The Zambian government, including its president, Edgar Lungu, has accused KCM of underpayment of dividends and taxes, as well as underinvestment in the mine, a crucial plank in Zambia… We’re systematically ending load shedding – Zesco . CHOMBA MUSIKA, Lusaka ZAMBIA Consolidated Copper Mines – Investment Holdings (ZCCM … Scary, very scary when I look at the potential liability Milingo Lungu is creating. ZAMBIA has appointed a legal firm to act as provisional liquidator of Konkola Copper Mines (KCM), the assets owned by Indian firm, Vedanta.. Oliver Chisenga | July 5, 2019. The PL and KCM Management will not be distracted by these falsehoods and will ensure they together continue to work towards a positive outcome of the liquidation process. Remember KCM operates in Zambia and there are KCM employees who are part of PF. 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. Recently, rumours surfaced that the provisional liquidator appointed by the Zambian government is set to separate KCM … ... Latest News… KCM in the Media: latest news, updates and presentations. Lungu Wins Tight Presidential Election; ECL 1, 860, 877 Hichilema 1, 760, 347, Muvi TV & Komboni Radio Licences Revoked For Alleged Misconduct, Pres. Speaking during a briefing in Chingola, KCM … “The Provisional Liquidator calls on all employees, KCM business partners and concerned stakeholders to support a smooth transition following the operationalization of the two companies for the benefit of the employees, other stakeholders and the Zambian economy. 4. The employees, who are currently working for KCM, will all be paid severance packages in agreed form to ensure that all old Liabilities are cleared, and reengaged seamlessly by the two separate Companies, with no job losses,” he said. KCM to be reorganised and restructured into two subsidiary companies effective February 1, 2021 LusakaTimes.com 11:07 29-Dec-20 Demographic analyses of a new sample of haploid genomes from a Swedish population of Drosophila melanogaster Nature.com 10:53 29-Dec-20 President Lungu Expected On C/belt For 3 Day Working Visit, DON’T BE MISLED BY OPPOSITION, KAMPYONGO TELLS HIS CONSTITUENTS, Reduced Loadshedding Linked to Increased Water Levels, BoZ STARTS ACCUMULATING GOLD AS PART OF INTERNATIONAL RESERVES, BY-ELECTION VICTORY A SIGN OF ZAMBIANS’ RENEWED HOPE IN PF – SG, KALOMO CRIMINAL BEHIND FAKE FACEBOOK PAGE NAMED NANCY KANGANJA NABBED FOR PERSONATION, PF HAS DELIVERED DEVELOPMENT IN MATERO – KAMBA, Toddler Dies After Being Run Over By A Car At Church, Man Hangs Himself with Shoelaces in Chizozu, THREATENED DIVORCE CAUSES LUSAKA MAN TO KILL HIMSELF AND HIS CHILDREN, NEW SI ZERO RATES VAT ON PETROL AND DIESEL, KABWE DEPUTY MAYOR TESTS POSITIVE FOR COVID-19, COPPERBELT MINISTER MWAKALOMBE TESTS POSITIVE FOR COVID-19, KABWE SHOPRITE AND ZAMBEEF TEMPORARILY CLOSED FOR NON-ADHERENCE TO COVID-19 RULES, South African Mortuaries Run Out Of Space As COVID-19 Bodies Pile Up, Zambia’s Mission In Addis Pursues Economic Benefit For Zambia Amid COVID-19 Outbreak, COURT COMMITS BOYFRIEND TO HIGH COURT FOR DEFILING GIRLFRIEND, LUSAKA WOMAN DIES AFTER BEING HIT BY A CAR ON GREAT EAST ROAD AS HER ONE YEAR OLD BABY MIRACULOUSLY SURVIVES, Pres. Many are asking now if the country could repossess private mining operations in a bid to shore up financing amid rising debt levels. Vedanta is committed to significantly improving the investment outlook of KCM by returning and investing in its long-term future. The imported concentrates are required for smelter and blending operations. On the 1st February 2020, News Diggers reported that the PL had transferred K100 million from KCM accounts to his law firm, when this was not true Lungu Flashes A Peace Signal, LATEST OFFICIAL ECZ RESULTS: UPND Maintains Lead By 3, 430; Hichilema 514, 816 Vs Edgar Lungu 511, 386, Hichilema Wins Another Day In Court; No Verdict As ConCourt Adjourns To Monday, LATEST ECZ OFFICIAL RESULTS: PF Leads By 70, 571; Edgar Lungu 1, 454, 165 Hichilema 1, 383,594, Cartel Takes Over LAZ; M’membe & Nchito Allegedly Calling Shots. He further explained that there will be no change to the existing structures of Union representation. Will You Be the First $277 Million Powerball Jackpot Winner from Zambia? On the 19th October 2019, News Diggers reported that the Nchanga smelter had burnt down, when not Lungu Remains Commander-In-Chief – Cabinet Chief, Lawyer Reports Hichilema, GBM To International Court For Crimes Against Humanity, Hichilema Offers 10 Point Plan To Fix Zambia, ConCourt Adjourns Presidential Petition To Tuesday, Today’s Photo: PEACE; Pres. -Ends-, Issued By Victoria Kabwe Zambia has said it is looking for new owners for KCM and speculation is strong that China, Zambia’s biggest creditor, is the most likely buyer. The News Diggers has intentionally chosen to print falsehoods to shore up the image of Vedanta Resources, when the shambolic management of KCM under Vedanta is actually the reason the government placed the company in liquidation. Zambia's Konkola Copper Mines (KCM) ... Latest News. On 11th July 2019, the News Diggers falsely reported that ZRA had paid KCM over K95m in tax refunds, to pay liquidator’s legal fees 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 the company. Betpawa | June 26, 2019. Mponda disclosed that the restructuring and reorganization will also restore KCM’s technical health, integrity and competencies, and ensure retention of the company’s position as 4 major asset in the mining sector as well as a great contributor to Zambia’s Gross Domesuc Product (GDP). PROFESSOR Muna Ndulo says the arbitration process involving Konkola Copper Mines (in liquidation) will not only be a prolonged process, but will also be a very expensive one for Zambia as it will cost the country millions of dollars in arbitration fees, legal fees and the award. He added that all employees directly working for Konkola Copper Mines will be offered new contracts of employment in either of the two new companies. The Mast | July 26, 2019. THE provisional liquidator managing Konkola Copper Mines (KCM) was continuing to seek opportunities to sell the assets, said Vedanta Resources. Informing its employees, KCM stopped operations from 4 January due to a drop in the availability of acid. 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. Just look... 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