About Us
ZCCM Investments Holdings PLC is a premier diversified mining investments and operations company with a primary listing under ISIN number ZM0000000037 on the Lusaka Securities Exchange in Zambia, and secondary listings on the London Stock Exchange and the Euronext Access Exchange in Paris
Our Values
We give respect to ourselves, our peers, our stakeholders, subordinates, our superiors and our business partners.
We resolve to always act and operate ethically, in dealing with one’s colleagues and for one’s stakeholders even when no one is looking.
We will always strive to work together as a team.
We respect processes and procedures in an open manner in all our dealings and take ownership of our actions.
We will achieve more with less and apply all our resources optimally.
Vision:
To be a world-class mining and energy investment company that benefits the people of Zambia.Mission:
To create tangible wealth sustainably for the benefit of the Zambian people and all our stakeholders.Our Business Model
Our Portfolio
ZCCM-IH occupies a very unique and strategically advantageous position as an investment holding company, as it holds key interests across mining and energy industries in Zambia. It also has significant investments in diversified energy entities, gemstones, and real estate.
Currently, ZCCM-IH’s portfolio consists of five (5) wholly owned subsidiaries and fifteen (15) investee companies
In our 2023-2026 Strategic plan, ZCCM-IH has prioritised the generation of consistent and predictable income through investments in brownfield and Greenfield projects; and ensuring value is extracted from existing legacy and post legacy portfolio companies through driving efficiencies and participation in primarily the mine supply value chain.
Diversification
Commodity diversification is aimed at tapping into new sources of consistent and stable income within mining and mining related sectors, while reducing the risk profile of our Portfolio. This is in an effort to deliver compelling long-term returns and to continue to maximize shareholder value. New investments to drive diversification will focus in key sectors and businesses which include mining supply chain, energy, value addition, manufacturing, precious metals, among others. ZCCM-IH is actively seeking strategic partnerships to develop and exploit opportunities in these sectors to achieve above-market returns.
Our Activities
The Company’s other activities include:
Our Strategic Focus
The ZCCM-IH 2023-2026 Strategic Plan provides the thrust for ZCCM-IH to achieve its full potential in returning value to its shareholders both from the existing portfolio and new investments. For this period, we have focused on putting in place strategic internal income generating ventures that will continue to drive the business to profitability and returns across the portfolio of assets. Drawing from this, ZCCM-IH’s key strategic focus areas are:
Strategic Focus Area 1: Extract, and where possible, to add value to our current portfolio;
Strategic Focus Area 2: Investment in greenfield and brownfield mining, and mining related ventures across a diverse range of minerals;
Strategic Focus Area 3: Achieve operational and financial excellence;
Strategic Focus Area 4: Generate greater shareholder value by ensuring price discovery on our stock exchange listings.
STRATEGIC PILLARS
With a renewed strategic focus, ZCCM-IH is driven by a new strategic impetus anchored on the theme, “Investing S.M.A.R.T.L.Y”. We are committed to Sustainability which is embedded in our business model by ensuring adherence to Environmental, Social and Governance principles. This will be Managed by our people proactively, with business Accretive and agility to drive our portfolio and revenue growth, whilst ensuring Risk mitigated investments, to be undertaken in a Timely, effective and efficient manner, with business Longevity in purpose, that Yields a return on investment and maximises shareholder value.
- Sustainability
- Managed proactively
- Accretive and agility
- Risk mitigation
- Timeliness
- Longevity
- Yield
Understanding ZCCM-IH’s Shareholding Structure
The authorised share capital of the Company is K2,000,000 divided as follows:
The total issued number of shares is 160,800,286 which is distributed as indicated in the table below (as at 31st March 2021):
| Shareholder | Class of Shares | Shareholding |
|---|---|---|
| Industrial Development Corporation (IDC) | A | 96,926,669 (60.28%) |
| Government of the Republic of Zambia (GRZ) | B | 27,735,173 (17.25%) |
| National Pension Scheme Authority (NAPSA) | B | 24,120,043 (15.00%) |
| Minority Shareholders | B | 12,018,401 (7.47%) |
| Total | 160,800,286 (100.00%) |
| Shareholder | Class of Shares | Shareholding |
|---|---|---|
| Industrial Development Corporation (IDC) | A | 96,926,669 (60.28%) |
| Government of the Republic of Zambia (GRZ) | B | 27,735,173 (17.25%) |
| National Pension Scheme Authority (NAPSA) | B | 24,120,043 (15.00%) |
| Minority Shareholders | B | 12,018,401 (7.47%) |
| Total | 160,800,286 (100.00%) |
Our Journey Thus Far
ZCCM-IH has a rich and varied history spanning more than 50 years before Zambia’s Independence in entities that preceded it but which have helped shape its current form. As the successor company to Zambia Consolidated Copper Mines Ltd (ZCCM Ltd), which itself was created from the merger of NCCM and RCM in 1982, ZCCM-IH’s story is the story of Zambia’s Mining Industry and much much more. Below is a summary of this journey.
Our Timeline
The Government of the Republic of Zambia transfers 60.3% shareholding in ZCCM-IH to the Industrial Development Corporation Limited (Zambia)
While a number of non-operational and smaller ZCCM mines, as well as the Power Division, were privatized relatively early, the eventual sale of the key mine packages at the core of ZCCM to Anglo American (Konkola, Nchanga, Nampundwe and a contract to run Nkana smelter) and First Quantum/Glencore (Nkana Mine…Read More
The original deadline for the conclusion of the sale of the remaining key ZCCM assets passes. The preconditions set by Anglo American for the purchase have not been met.
Anglo American revises the basis of the original deal. A new agreement is reached whereby the high cost Nkana mine is excised from the sale, although the South African Company retains its option to run and purchase the Nkana smelter, crucial to its wider operations in Zambia. Anglo American refuses…Read More
Anglo American formulates a rescue plan to repackage the unsold assets of ZCCM.
Over two years after the privatization was announced, less than 20 percent of ZCCM’s operating capacity has passed into private ownership.
Anglo American agrees to relinquish its purchase rights over the Mufulira smelter in the event of an agreement being reached allowing it to purchase the other key ZCCM assets as a single package. A prospective buyer is found for the Mufulira mine. New lending instruments are agreed with the World…Read More
Anglo American negotiates the option to purchase all remaining key ZCCM assets. A number of preconditions are set by the company to include the identification of a suitable partner, the securing of finance, and the implementation of a ZCCM redundancy program to be paid for using donor funds.
After a year of protracted negotiations, during which time the price for copper has fallen sharply, the final reduced offer of the Kafue Consortium is rejected and the bidding group dissolves. The balance of payment support from the donor community agreed at the Consultative Group meeting is made conditional on…Read More
The bidding process closes. Each package attracts at least one bid. A memorandum of understanding is signed between the Government/ZCCM and Anglo American for the exclusive purchase of the extensive Konkola Deep deposit outside of the main bidding process. This deal cements Anglo American’s acceptance of the privatization process, but…Read More
Appointment by the President of Francis Kaunda to take over ZCCM sale negotiations from Rothschilds and the ZPA negotiating team.
Finalization of the Nkana/Nchanga sale to the Kafue Consortium appears imminent. In retrospect, the best price for these mines was achieved at this time.
Finalization of the Nkana/Nchanga sale to the Kafue Consortium appears imminent. In retrospect, the best price for these mines was achieved at this time.
Conclusion of the sale of the Luanshya and Baluba mines to the Binani Group of India.
The Consultative Group meeting with donors to renew balance of payments support is postponed, ostensibly because of governance issues, but also because of the failure to conclude the privatisation of ZCCM.
The Rothschilds report recommends the unbundling of ZCCM into ten principal sale packages to be privatized through international competitive tender. The Government is to retain a ‘golden share’ – typically 15 percent – in the successor companies which it has the option to sell to Zambian and other investors at…Read More
ZCCM privatization plan approved by both the Zambian Government and the ZCCM board.
An announcement is made in the budget speech that ZCCM is to be privatized within two years
The merchant bank N. M. Rothschild and the legal firm Clifford Chance are hired to produce a privatization plan for ZCCM.
Zambian Government took over responsibility for management and sales
Zambian Government acquired a 51% share in the ownership of the copper industry
Following independence, the Zambian government acquired mineral rights of the British South Africa Company
Zambia: An Advantageous Investment Destination: Second Largest Producer of Copper in Africa
The Republic of Zambia is a landlocked country in Southern Africa, neighbouring the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west. The capital city is Lusaka, in the south-central part of Zambia. The population is concentrated mainly around Lusaka in the south and the Copperbelt Province to the northwest, the core economic hubs of the country.
On 24 October 1964, Zambia became independent of the United Kingdom and Prime Minister Kenneth Kaunda became the inaugural president.
World Banks, 2020 Ease of Doing Business Report rates Zambia as one of the top 10 best performers in Africa, ranking 7th in Africa, 5th in Sub-Saharan Africa in 2019. The Common Market for Eastern and Southern Africa (COMESA) is headquartered in Lusaka.
| Total area | 752,618 sq km |
| Water | 9,220 sq km |
| Land | 743,398 sq km |
| Population | Approx. 18.88 million (as at June 2021 according to the World Bank) |
| GDP (nominal) | $29.16 billion (2022 estimate) |
| GDP per capita (nominal) | $1,456.90 |
| Currency | Zambian Kwacha (ZMW) |
| Time zone | CAT (UTC+2) |
| International dialing code | +260 |
