Konkola Copper Mines (KCM) has clarified as grossly misleading Vedanta Resources report in relation to the ongoing liquidation process and the impending arbitration between Vedanta and ZCCM-IH.
KCM General Manager Corporate Affairs Shapi Shachinda said Vedanta Resources has decided to misrepresent the purport of the Partial Award by the Arbitral Tribunal.
Mr Shachinda said the award dealt with the issue as to whether the Arbitrator had jurisdiction to hear the dispute. The Arbitrator has found that he has jurisdiction and consequently that the winding up proceedings in the High Court should be stayed.