The government takeover of KCM will go to an arbitration hearing in January 2023 in London
A system of conveyor belts at the Nchanga copper mine, operated by Konkola Copper Mines Plc, in Chingola, Zambia. Picture: WALDO SWIEGERS/GETTY IMAGES
Zambia’s previous government put KCM into the hands of a liquidator in May 2019, triggering an ongoing legal dispute with Vedanta Resources, KCM’s parent company. Firms invited to submit a proposal to act as adviser include international banks Citibank Investment Banking Group, Standard Bank, Bank of America Merrill Lynch, Rothschild, Rand Merchant Bank and InvestEcon, Nair said.Nair also announced the resumption of mining operations at a KCM open pit mine, saying the move was part of broader plans to improve operations before the government finds a new investor.
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