By GRACE CHAILE-LESOETSAMILINGO Lungu has argued that the reorganisation and restructuring of Konkola Copper Mines (KCM) is within the mandatory power as provisional liquidator of the Mine.Mr Lungu stated that no order of Court is required for him to carry out functions that are incidental to the powers given to him by the Court.He has also asked the Lusaka High Court to discharge the interim injunction granted to Vedanta Resources Holdings Limited and two others, restraining him from reorganising KCM.In this matter, Vedanta Resources Holdings Limited, Vedanta Resources ( Jersey II) Limited and Vedanta Resources Limited have sued Mr Lungu challenging the splitting of KCM.The three want the Lusaka High Court to order Mr Lungu to immediately reverse any process of KCM reorganisation.But in his defence, Mr Lungu stated that KCM Smelter Company limited and Konkola Mineral Resources are subsidiary companies owned by the State therefore it is not true that the reorganisation is intended […]
Milingo Lungu defends KCM split in court
