Regions
The provisional liquidator of Zambia‘s Konkola Copper Mines (KCM), a company over which Vedanta Resources and the government have been locked in a long dispute, has resigned, he confirmed to Reuters on Sunday.
Zambia’s previous government, which owns 20% of KCM through state mining investment firm ZCCM-IH, handed control of KCM to liquidator Milingo Lungu in 2019, triggering the dispute with Vedanta, which owns the other 80%.
It was not immediately clear what Lungu’s resignation would mean for KCM’s future.
Vedanta has said it is keen to resolve the dispute over KCM and has pledged to invest $1.5 billion into its operations.
In a letter seen by Reuters dated March 17 and addressed to KCM official receiver Natasha Kalimukwa, Lungu said he had resigned, but he did not give any reason for his decision.
“This serves to inform you that I have with immediate effect resigned as provisional liquidator of Konkola Copper Mines,” read the letter, whose authenticity Lungu confirmed to Reuters.
Kalimukwa had moved on March 11 to suspend Lungu after receiving a complaint from ZCCM-IH relating to mismanagement. Lungu refused to go, however, saying Kalimukwa had no power to remove him as he had been appointed by a court.
