MINOPEX Zambia backtracks on KCM joinder

MINOPEX Zambia Limited has withdrawn its notice of intention to join the winding up petition of Konkola Copper Mines (in liquidation) in the Lusaka High Court.

In an affidavit in support of an Exparte summons to withdraw notice of intention to appear in petition, a lawyer representing Minopex Zambia Limited from Simeza Sangwa and Associates said he had received instructions to withdraw from the matter.

"I Nkhumbwizya Alikipo, I am an advocate in the employ of Messers Simeza , Sangwa and Associates having been seized with conduct of this matter on behalf of Minopex Zambia limited.

"By reason where of I am duly authorised to swear to this my affidavit from facts and information which came to me by virtue of he said capacity. On 31 May 2019 a notice of intention to appear in petition was filed and now we have since received instructions to withdraw the said notice," read the notice to withdraw.

This is in a petition in which ZCCM-IH has asked the court to wind up KCM on grounds that it was insolvent and had failed to pay outstanding invoices to suppliers and contractors as and when they fall due, among other allegations.

Lusaka Lawyer Milingo Lungu was thereafter appointed provisional liquidator of the mining firm.

Meanwhile, Vedanta which is the majority shareholder in KCM had applied for a joinder to the proceedings as an intended respondent following its investment of millions in the mining company as such it is within its interest that the company should continue operating.

However a lawyer Bonaventure Mutale who had been retained by the provisional liquidator on behalf of KCM said an order being sought by Vedanta was not provided for in the companies winding up rules of 2004 and that there was no lacuna therein to the hearing of the interested persons.

And Minopex Zambia Limited a company which deals in raw material had also applied to appear in the winding up petition.