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Corporate Announcements, ZCCM-IH

DIREC TORS’ INTERIM UNAUDITED FINANCIAL RESULTS FOR ZCCM INVESTMENTS HOLDINGS PLC AND ITS SUBSIDIARIES (‘‘THE GROUP’’ ) FOR THE SIX MONTHS PERIOD ENDED 30TH JUNE 2024

INTRODUCTION
In compliance with the requirements of the “Securities Act, No. 41 of 2016 of the Laws of Zambia” and the Listing Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings PLC (“ZCCM-IH”, “ZCCM”, “the Company”, “We” or “Our”) announces the interim unaudited financial results of the Company and its Subsidiaries (colectively referred to as “the Group”) for the six months’ period ended 30th June 2024.

CHIEF EXECUTIVE OFFICER’S COMMENTARY
I am pleased to share ZCCM-IH’s financial results for the first half of 2024, which highlight several key strategic developments. A major highlight is our new partnership with Delta Mining Limited, focusing on Mopani Copper Mines Plc. Additionally, Konkola Copper Mines Plc (KCM) has successfully completed all necessary formalities, leading to Vedanta’s release of USD250 million. This marks the final step in the implementation agreement, resulting in KCM’s removal from the liquidation process. Following this, a new Board has been appointed, and Vedanta has officially taken over the operations of KCM.

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Corporate Announcements, ZCCM-IH

Trading Statement – Financial Results (Half Year Ended 30 June 2024)

In accordance with Section 3.4(b) of the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of ZCCM Investments Holdings (“ZCCM-IH” or “the Company”) and its subsidiaries (collectively, “the Group”) wishes to inform shareholders that the Earnings per Share (EPS) for the half year ended 30 June 2024 is expected to exceed that of the half year ended 30 June 2023 by 2396%.
Based on the financial results the Group’s Earnings Per Share (EPS) stood at ZMW344.05, compared to negative ZMW 14.98 Earnings Per Share in the same period of 2023. This improvement is largely driven by a one-time gain of ZMW 42.3 billion (US$1.66 billion) following the successful Strategic Equity Partnership (SEP) with International Resources Holding RSC Ltd (“IRH”). Through its subsidiary, Delta Mining Limited, IRH invested USD1.1 billion for a 51% ownership in Mopani Copper Mines Plc. Furthermore, the settlement of USD 1.7 billion in Glencore/Carlisa loans under the Amendment, Restatement, and Consolidation Agreement (ARCA) boosted the valuation of the Mopani asset, contributing to the Group’s EPS growth.

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Corporate Announcements, ZCCM-IH

Invitation to ZCCM-IH Shareholder Open Day – Friday, 4th October 2024

ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”) wishes to announce that it will be hosting
a Shareholder Open Day on Friday, 4th October 2024, at Southern Hotel, from 10:00 hours to 12:00 hours
(CAT). The event will be streamed live via ZOOM. This annual event is an opportunity for us to engage
with you, our valued shareholders, and provide updates on the company’s performance, strategic
direction, and future outlook.
The event will feature presentations by the Chief Executive Officer who will cover a detailed presentation
on our strategic roadmap, the Chief Investments Officer who will speak about upcoming projects,
including growth initiatives and investment opportunities and the Chief Financial Officer who will present
a comprehensive overview of our financial performance, including detailed analyses of our half year
results.

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Active Opportunities, Corporate Announcements, ZCCM-IH

Investment Opportunity in Rembrandt Properties Limited

ZCCM Investments Holdings PLC (ZCCM-IH) is pleased to announce an investment opportunity in real estate. Due to the strategic realignment of its portfolio, ZCCM-IH has set its focus solely on mining, energy, mining strategics and beneficiation. In line with this strategic direction, ZCCM-IH is seeking potential investors interested in acquiring a 49% or 100% equity stake currently held by ZCCM-IH in the real estate investment asset – Rembrandt Properties Limited.

ZCCM-IH hereby invites interested investors to explore this unique investment opportunity.

About Rembrandt

Rembrandt is 74-key boutique hotel gracing the opulent enclave of Woodlands, Lusaka Zambia. The hotel features conference facilities on the ground floor and an FNB private banking branch on the upper deck.

It opened to the public on 1st June 2022 and the current tenant and operator is The Urban Hotel Group.

ZCCM-IH holds a 49% stake in Rembrandt, while Urban Brands and Sims Capital jointly own 51% interest, split equally.

Call for Expression of Interest.

This is an opportunity for real estate funds, Real Estate Investment Trust’s, and hotel managers and operators to invest in a prime property through debt and/or equity.

Contact

Mr. Brian Musonda: Chief Investments Officer Email: brian.musonda@zccm-ih.com.zm

Mr. Bryson Kacha: Portfolio Manager – Non Mining Assets Email: bryson.kacha@zccm-ih.com.zm

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Press Releases, ZCCM-IH, ZCCM-IH News

ZCCM-IH Acquires Additional 10% Shareholding in Lubambe Copper Mines Ltd

28th August 2024, Lusaka Zambia: ZCCM Investments Holdings PLC (ZCCM-IH) is pleased to announce that it has reached an agreement with Jinchengxin Mining Management Company Ltd (JCHX) to acquire an additional 10% shareholding at US$1 in Lubambe Copper Mines Ltd (Lubambe). This transaction will increase ZCCM-IH’s ownership in Lubambe from 20% to 30%, and upon completion, JCHX’s stake will adjust from 80% to 70%. This transaction is expected to be finalized within the next six months.


In addition to the increased shareholding of 10%, ZCCM-IH will have marketing rights to copper ore concentrate output in proportion to its shareholding. This innovative arrangement is the first of its kind within ZCCM-IH portfolio and will ensure greater value extraction from the asset. The current Shareholder’s Agreement shall be revised accordingly to include other value extraction strategies for ZCCM-IH. This move aligns with ZCCM-IH’s ongoing strategic efforts to increase its stake in key mining and energy assets within Zambia. The increased equity will strengthen ZCCM-IH’s role in the governance, management and development of Lubambe Copper Mines, ensuring greater alignment with the interests of ZCCM-IH’s shareholders and Zambia’s national interests.


JCHX intends to invest approximately US$300 million into Lubambe for operations and extension of the life of mine. The mine is currently implementing initiatives to boost productivity and operational efficiency, and this partnership between ZCCM-IH and JCHX will further support these goals.

ZCCM-IH Acquires Additional 10% Shareholding in Lubambe.cleanedDownload
Active Tenders, ZCCM-IH

NOTICE OF THE BEST EVALUATED BIDDER

The Procurement Committee has since authorised award of contracts for the procurement requirements to the “best evaluated bidders” as detailed below.

It is, therefore, the intention of ZCCM-IH PLC to award stated contracts after five (5) working days from the date of display given below.

Procurement Reference Number:ZCCM-IH/074/2024
Procurement Description:Tender for the Supply and Delivery of Handheld XRF Machines to ZCCM-IH Mawe Complex in Kalulushi
Method of Procurement:Open National Bidding (ONB)
Name of Best Evaluated Bidder:Leshe Investments Limited
Address of the Best Evaluated Bidder:Plot F/50A/A/10 Kalimina Road Makeni Bonaventure, Lusaka, Zambia
Proposed Contract Price:ZMW 3,095,820.00 VAT Inclusive
 
Procurement Reference Number:ZCCM-IH/175/2023
Procurement Description:Tender for the Extension and Modification of Kabwe Laboratory Works
Method of Procurement:Open National Bidding (ONB)
Name of Best Evaluated Bidder:Retro International Zambia Limited
Address of the Best Evaluated Bidder:Plot 6282 Mapepe Road, Olympia Park, Lusaka, Zambia
Proposed Contract Price:ZMW 2,533,618.70 VAT Inclusive
Date Notification IssuedThursday,22nd August 2024
Date for End of Notification Period:Wednesday, 28th August 2024

Kindly note that this Notice does not constitute an award of contract to the bidders mentioned above. Bid acceptance and contract placement shall be in accordance with Regulation 178 and Part XIX of the Public Procurement Regulations,2022.

Bidders have the right of appeal against the proposed award in accordance with Section 100 of the Public Procurement Act No. 8 of 2020 and Regulation 241 of the Public Procurement Regulations, 2022. Furthermore, Pursuant to Section 23 of Public Procurement (Amendment) Act No.17 of 2023 any appeals shall be made within five (5) working days from the date of this notice.
Corporate Announcements, Press Releases, ZCCM-IH News

KCM CAUTIONARY WITHDRAWAL ANNOUNCEMENT

The Board of Directors of ZCCM Investments Holdings Plc (“ZCCM-IH”) (“the Board”) wishes to refer the shareholders and the market to the announcement dated 23 May 2019 regarding ZCCM-IH filing a petition in the High Court of Zambia (“the Court”) for the winding up of Konkola Copper Mines PLC (“KCM”) on 21 May 2019 (the “Petition”) and the subsequent appointment of Mr Milingo Lungu as Provisional Liquidator of KCM (the “Provisional Liquidator”) by the Court.

Shareholders are hereby informed that on 25th July 2024, ZCCM-IH filed an application to withdraw the Petition in the High Court of Zambia, and the Court subsequently issued an Order withdrawing the Petition and vacating the Order of Appointment of Ms Celina Mena Nair who replaced Mr. Milingo Lungu as the Provisional Liquidator. The Shareholders are further informed that pursuant to an Order of the Court Dated 28th June 2024, wherein the High Court ordered the termination of the winding up petition forthwith, vacation of the Provisional Liquidator, Reinstatement of the Board and the Reclassification as a going concern of KCM. ZCCM-IH filed into Court on 31st July 2024 a Notice of Termination of The Winding Proceedings, Vacation of the Provisional Liquidator, Reinstatement of the Board, and Reclassification as a going concern (the “Notice”). The effect of the said Notice is that KCM is no longer in Provisional Liquidation, the Board has been reinstated and management control returned to Vedanta Resources, the majority shareholder in KCM.

Accordingly, shareholders no longer need to exercise caution when dealing with this particular matter in their securities.

By Order of the Board

Charles Mjumphi Company Secretary

Issued in Lusaka, Zambia on 19 August 2024

KCM CAUTIONARY WITHDRAWAL ANNOUNCEMENT – SENS- 15-08-24- LM (003)Download
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

ZCCM-IH Investee Company – Maamba Collieries Ltd – Granted Exploration Licensesfor Lithium and other Minerals in Southern Province, Zambia

08th July 2024, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) is pleased to announce that its investee company, Maamba Collieries Limited (MCL), in which it has a shareholding of 35%, has been issued two Large Scale Exploration Licenses for Lithium and other minerals (amethyst, aquamarine, tantalum and tin) in the Southern Province of Zambia.
MCL intends to commence exploration as soon as possible to ascertain the presence of these minerals in these licence areas.
The licenses are valid for a period of four years during which period MCL plans to carry out detailed exploration to ascertain the presence of mineable resources of the various minerals and thereafter proceed to determine the quantum of resources and reserves if applicable.
These two license areas are located approximately 100 km southwest of MCL’s coal mine in Maamba.
Lithium is part of the critical battery metals that ZCCM-IH has planned to explore for in its 2020-2026 strategic plan. As such the granting of the two licences to its investee company contributes to the strategy to diversify the company’s mineral commodity base.
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

Vedanta ready with $250 million funding to pay KCM Creditor

Friday 5th July,2024 Lusaka. Zambia- In a significant development, Vedanta has arranged USD 250 million funding to pay KCM Creditors as per High Court decision rendered on 28 June 2024. With Vedanta Resources’ reinstatement, Konkola Copper Mines (KCM) is poised for a new era of growth and prosperity. Vedanta Resources, the Government of the Republic of Zambia (GRZ), and ZCCM Investments Holdings Plc (ZCCM-IH) are working in close collaboration to complete all steps outlined in the transaction documents.
The parties involved are demonstrating their shared commitment to KCM’s long-term viability, ensuring a secure and sustainable future for the company. This cooperation marks a significant step forward, paving the way for a brighter future for KCM, its employees, and the communities it serves. Upon successful completion of all the relevant pre-condition steps in the transaction documents, the Escrow account will be funded on or around July 8, 2024, as directed by the High Court of Zambia with USD250 million to pay small creditors. Additionally, KCM employees will receive a one-off payment of K2500, and a 20% salary increment after board reinstatement, a significant boost to their remuneration package and a major
milestone in KCM’s journey towards a brighter future. It is expected these final steps should be concluded in the latter part of this month and the actual flow of all the relevant funds will likewise flow at that time.
With the transaction nearing completion, KCM will be poised to make a profound impact
on the local community, providing benefits such as education and healthcare
programmes, economic empowerment, and sustainable livelihood initiatives, ultimately
improving the overall quality of life for the people in the operational areas. Vedanta
remains committed to caring for the community.
ZCCM-IH, ZCCM-IH News

ZCCM-IH Shareholders in ZMW243 Million Dividend Payout as the Company Recordsa ZMW4.8 billion in Company Profit

03rd July 2024, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) shareholders approved a dividend of K243 million for the 2023 financial year during the Company’s 20th Annual General Meeting (AGM) held on Friday, 28th June 2024. Of this amount, ZMW187 million Kwacha will go to the Government of the Republic of Zambia through the Industrial Development Corporation (ZMW146 million) and the Ministry of Finance and National Planning (ZMW42 million).

The approval of the dividend follows a Company profit of ZMW4.84 billion recorded for the 2023 financial year end, a 14% increase from ZMW4.26 billion profit recorded in 2022. This improved performance at Company level was largely due to the royalty income of ZMW1.2 billion received from Kansanshi Mining Plc, and improvement in performance of investee companies in 2023, among others.

At the Group level, there was a 24% increase in losses, amounting to ZMW4.7 billion for 2023, primarily due to the underperformance of Mopani Copper Mines Plc. Despite this, the Group’s total assets rose by 20%, from ZMW48.92 billion to ZMW58.46 billion, driven by the increased value of investments in associates and other current assets.

The dividends declared for the 2023 financial year mark the ninth consecutive dividend declaration by ZCCM-IH, bringing the total dividends paid to shareholders since 2015 to over ZMW1.6 billion.