Mimbula mine in Chingola, Zambia has resumed operations. This is following a consent order entered into the dispute between Konkola Copper Mines and Moxico Resources and two others. Moxico Resources Chief Executive Officer Alan Davies thanked government for the continued favorable investment climate in the country which he said makes the country one of the most sort after investment destination in mining.
Commenting on the consent order which has allowed his company to resume operations, Davies said the company was relieved that the dispute involving his Company and KCM is over and that operations have commenced.
He further added that Mimbula mine has contributed to the creation of jobs in the country as it will employ hundreds of workers immediately, through construction and operations, and as it invests over US $40m in its first phase investment.
Davies said Zambia remains one of the best investment destinations due to its continued peace which makes investors not only safe but are assured that their investment is protected.
These comments come in the wake of the order by the Court of Appeal which has ordered Konkola Copper Mines (KCM) to immediately withdrow the application for Leave to Appeal to the Supreme Court against the Judgement of the High Court regarding the disputes involving Moxico Resources Zambia limited and two others.
In the matter before the Court of Appeal Konkola Copper Mines PLC (Appellant) had appealed against the ruling which was in favour of Rephdim Mining and Technical Suppliers Limited (1st Respondent), Mimbula Minerals Limited as (2nd Respondent) and Moxico Resources Zambia PLC as (3rd Respondent).
The parties have since entered a Consent Order which has ordered that the parties agree that all litigations between them in relation to the subject matter of this order immediately be terminated and deemed withdrawn and that no liabilities will arise against any of the parties.