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The Lusaka High Court has directed the Sheriff of Zambia to seize assets belonging to Konkola Copper Mines (KCM) to recover US$11.8 million owed to Copperbelt Energy Corporation (CEC).
In a decisive ruling, the court ordered KCM to settle its debt of US$11,843,871.45 (equivalent to ZMW 338,910,012.82) by December 12, 2024.
The writ of execution empowers the sheriff to seize KCM’s goods, chattels, and other assets to recover the amount, including legal and administrative costs.
This decision follows a series of legal disputes between KCM and CEC over unpaid energy bills.
On March 7, 2025, the High Court dismissed KCM’s attempt to overturn a December 2 ruling, which required it to pay 40 percent of its US$29.6 million debt to CEC within 10 days.
KCM had argued that new evidence had emerged regarding claims from Lumwana Mining Company Limited, Komatsu Enterprises Limited, and a dispute notice from Barrick Gold Limited.
However, the court found that this did not qualify as fresh material evidence under legal provisions.
KCM also accused CEC of taking conflicting legal positions in different courts, seeking priority payment in one case while being categorized differently in another.
However, the court dismissed this argument, stating that the adjudication process related to the Scheme of Arrangement had been completed.
Judge Charles Kafunda upheld the original ruling, dismissed KCM’s application for review, and lifted the stay of execution.
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