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Guiyang, Guizhou, China

12th Rare Earth Summit

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Hangzhou, Zhejiang, China

11th Aluminum Raw Materials Summit

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Hangzhou, Zhejiang, China

9th Magnesium Summit

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June 13-14, 2019
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May 23-24, 2019
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May 16-17, 2019
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May 9-10, 2019
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Zhuhai, Guangdong, China

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March 14-15, 2019
Zhuhai, Guangdong, China

Zambia High Court appoints administrator for KCM

2019-05-22 14:52:45   【Print】
On May 21, Zambia's High Court appointed a provisional administrator for the country's largest copper mining firm, Konkola Copper Mines (KCM).

State-owned Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH), which is a minority shareholder in KCM, has sought the liquidation of KCM's assets according to court papers. Vedanta Resources is the major shareholder in Konkola Copper Mines with a 79.Asian Metal Copyright .Asian Metal Copyright4-per cent stake.

A day after President Edgar Lungu announced a plan to strip KCM of its mining license and bring in new investors, a high court document named Zambian law firm Lungu Simwanza & Company to oversee KCM. The firm is appointed to act as provisional liquidator until the conclusion of the hearing of a petition, brought by Zambia's mining investment arm ZCCM-IH under Zambia's corporate insolvency act, or a further order.

Vedanta and KCM issued a joint statement reiterating a request first made on Monday for an immediate and urgent meeting with President Lungu.

.Asian Metal Copyright The firm is appointed to act as provisional liquidator until the conclusion of the hearing of a petition, brought by Zambia's mining investment arm ZCCM-IH under Zambia's corporate insolvency act, or a further order.Asian Metal Copyright