Konkola Copper Mines (KCM) Chief Executive Officer Chris Sheppard has told employees at the mining firm that has been placed under liquidation, to continue working normally as management makes effort to present its objection to the move taken by the Zambians government through ZCCM-IH.
Sheppard stated in an internal memo to all KCM workers that the order by the Lusaka High Court to have Milingo Lungu begin the winding process of KCM was arrived at on an ex parte basis without giving the company chance to dispute the decision.
“In the business update that was communicated to all employees on Monday, 20th May, 2019, it was indicated that there would be further updates in the event of any fundamental changes to the operations of the company. As you may be aware, ZCCM Investment Holdings PLC, in its capacity as member of the company, has brought a petition for the winding up of the company. That petition has not yet been heard. However, in that connection the company was served with an ex parte High Court Order on the afternoon of 21st May, 2019. The High Court has appointed a Provisional Liquidator for Konkola Copper Mines PLC, Mr Milingo Lungu. As the Order was obtained on the ex parte basis, the company was not heard on the application. Consequently, such appointment is subject to a subsequent inter partes hearing on 24th May, 2019,” stated Sheppard.
“As provided for under the Zambian legislation, the provisional Liquidator takes charge of the executive responsibility for running the company in the interim until further court order in this matter. KCM is a growing concern and operations should continue to run normally and safely. Management continues with their operational responsibilities and accountabilities in the execution of their normal duties. We urge each one of you to remain focused, continue to work safely and ensure that company assets and interests are protected.”