KCM sued over K7.8m
Published On January 12, 2017 » 1436 Views» By Diran Chama » Court News, Latest News
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KOBIL Zambia Limited has sued Konkola Copper Mines (KCM) over alleged failure to pay K7,793,000 for fuel supplied to the mining company.
In a statement of claim filed in the Lusaka High Court, the Kobil said it was engaged to supply the Heavy Fuel Oil (HFO) according to operational requirements of KCM as instructed from time to time according to an agreement covering a period of two years from the time the contract was signed on April 1, 2014, date.From the courts small
The oil marketing company contended that it was agreed that invoicing of supply be done every month to cover deliveries made from each month-end to the next and that payments be done within 30 days of the date of receiving the invoice.
Kobil argues in the claim that despite several reminders and demands made to KCM, the mining giant allegedly failed and neglected to pay the money owed to it.
The plaintiff said it made several deliveries of the fuel to KCM and issued invoices for payment, but had the miner had breached the agreed terms and to date, so that the total principal sum of K7, 793, 550.77 was still owing.
Kobil wants the court to order KCM to pay up for goods supplied plus interest at the current bank rate.

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