ZCCM

‘ZCCM-IH NOT AWARE OF VEDANTA ARBITRATION PROCESS’
August 1, 2019 Editor2
By CHINTU MALAMBO

ZCCM-IH says it is not privy to the arbitration process started by Vedanta in a South African Court, spokesperson Louisa Mbata-Kakoma has said.

Vedanta Resources Holding in a statement yesterday said it had begun arbitration proceedings in relating to the liquidation of Konkola Copper Mines (KCM).

The company said it served the arbitration notification on ZCCM-IH. But Ms Mbata-Kakoma insisted the company was not privy to the arbitration process.

And KCM provisional liquidator Milingo Lungu also said he has not been served with a notice of arbitration.

Mr Lungu said he was not aware of the arbitration process as he was still waiting for the ruling of the Lusaka High Court.

Meanwhile, the High Court of Zambia on Monday reserved ruling on Vedanta’s application to refer parties to arbitration.

The issues for determination are whether there was a dispute between the parties and whether the matter should be stayed and referred to arbitration.

This is in a case where ZCCM-IH has petitioned the mining company seeking an order that it should be wound up for engaging in tax evasion and being managed in a manner detrimental to its interest among other allegations.

In May this year, Judge Banda-Bobo granted ZCCM-IH an order to appoint Mr Lungu, of Messrs Lungu Simwanza and Company, as provisional liquidator of KCM.