KCM STUDYING HIGH COURT RULING ON CEC PAYMENT
Lusaka, Zambia 9th December, 2024
Konkola Copper Mines (KCM) notes the recent High Court ruling regarding the payment of US$29 million to Copperbelt Energy Corporation (CEC).
We are scrutinizing the Judgement and will adhere to the scheme of arrangement sanctioned by the High Court in June 2024.
As part of this scheme, KCM has been working to restructure its debt and make payments to its creditors.
The scheme categorizes creditors into class 1 (owed below USD 1 million) and Class 2 (owed above USD 1 million).
We will continue to engage with all stakeholders, including CEC, to ensure a mutually beneficial outcome.
KCM reiterates its commitment to playing a key role in the development agenda of Zambia and contributing to the economic revitalization of the country.
Issued by Corporate Affairs.
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