By NATION REPORTER
VEDANTA Resources has commenced funding to Konkola Copper Mines (KCM) and has disbursed its first US$25 million for employee salaries, contract labour as well as for other critical services needed to maintain the integrity of the asset.
Vedanta Director of Corporate Communications, Masuzyo Ndhlovu, said the company had also deployed a technical team at KCM to work together with the current management to ascertain the state of the asset.
Mr Ndhlovu said this was aimed at ensuring that the business was prepared for operations once Vedanta takes over upon the conclusion of the scheme of arrangement that was before the court.
He said once the scheme of arrangement had been agreed upon with the creditors, and court cases withdrawn, the KCM provisional liquidator would vacate the office after the liquidation case was discontinued in the High Court and would hand over the mine to Vedanta.CLICK HERE TO READ MORE
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