The Zambian government filed an official document to the High Court to liquidate the assets of KCM
, which is majority-owned by Vedanta Resources, on May 21.
KCM runs the country’s largest copper smelter, Nchanga, as well as the Konkola and Nchanga mines.
A court hearing between Vedanta and the Zambian government will be held on June 4.
No force majeure has been declared since the takeover attempt
which is a first for the government of Zambia, Africa’s second-largest copper-producing region.
June deliveries of copper are expected to continue as normal and some May contractual deliveries have arrived, KCM customers told Fastmarkets.