THE Lusaka High Court has approved the Scheme of Arrangement for Konkola Copper Mines (KCM). The court has ordered Vedanta Resources Holdings Limited to deposit into the Escrow Account US$225 million for creditor settlement, US$20 million for a once-off community support loan and US$750,000 for a once-off employee bonus by July 8, 2024. The court has further ordered that Provisional Liquidator Meena Nair shall vacate her position upon confirmation of payment of the funds on or before July 12, 2024, and that the KCM winding-up proceedings shall forthwith terminate. This is in a matter in which ZCCM-IH filed a winding up petition in 2019, seeking inter alia, that KCM be wound up. KCM made an application for an order to...