Mining and metals company, Vedanta Resources announced a decision to challenge in court, Zambia High Court’s appointment of a legal firm as a provisional liquidator of Konkola Copper Mines (KCM).
The liquidation application was brought against Vedanta-controlled KCM by Zambian state-owned ZCCM-IH, which holds a 20.6% stake in the unit.
“Vedanta has serious concerns about the intentions of the applicants and the procedures that were followed by ZCCM-IH as a representative of government to obtain a provisional liquidation order on an ex-parte basis against KCM in an apparent misuse of the legal process to date,” the company says in a statement.