SKF demands $305,063 from KCM

KONKOLA Copper Mines Plc(KCM) allegedly owes a Kitwe based company over USD300,000 for various industrial supplies.

SKF Zambia limited has thus sued KCM in the Lusaka Court claiming that the giant mining firm has neglected to settle the debt despite several reminders.

It now wants the Court to order KCM to pay the USD305, 063.52 being the price of various specifically custom designed and manufactured products.

SKF also wants an order that KCM collects and pays for all the products specifically manufactured on its behalf from the SKF warehouses in Zambia, South Africa and Belgium.

It wants KCM to pay storage costs incurred in Zambia,

South Africa and Belgium as a result of the mining firm’s failure to collect the products.

SKF is also seeking an order that KCM pays damages for breach of contract, interest on all moneys found due.

According to a statement of claim, SKF stated that between August 1, 2018 and December 1,2019, pursuant to an existing business relationship and agreement, It entered into an agreement with KCM.

The agreement was for the supply of different products custom made and unique to the mine’s requirements valued at USD305,063.52.

SKF stated that the purchase orders and back orders are being held at its different warehouses in different countries such as Zambia, South Africa and Belgium.

“While the plaintiff has on the one hand fulfilled its obligations under the agreement, purchase orders and back orders to source and stock goods at the defendant’s instance with storage costs accruing every day, the defendant on the other hand has failed to fulfil its obligations,” SKF said