Investee Companies

Industry News, Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

Kobold Metals Strategic Investment In Zambia Paves Way for Sustainable Critical Mineral Supply Chains

In a significant move towards building transparent, secure, and sustainable critical-mineral supply chains, KoBold Metals has emerged as a key player in catalyzing investments in strategic projects.

The United States Ambassador to Zambia, His Excellency Michael Gonzales, commended KoBold’s efforts and emphasized the pivotal role such initiatives play in driving the energy transition and fostering a sustainable, climate-smart economy for the 21st century.

With a commitment to leveraging the world’s best artificial intelligence and human intelligence, KoBold President Josh Goldman expressed enthusiasm about the company’s ability to accelerate progress in critical-mineral exploration and extraction.

Read full article

Source: Mines.Org
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

Mingomba Mining Project Excites State House

ZNBC Staffer

Special Assistant to the President for Economic and Development Affairs JITO KAYUMBA says government is very excited with the $150m investment towards the development of Mingomba mining in Chililabombwe district.

Mr. KAYUMBA says government is ready to formulate and ensure policy consistency especially in the Mining sector for sustainable investment and production.

And Mr. KAYUMBÀ adds that the debt restructuring deal has created a pathway for improved investor confidence not only in the mines but other subdivisions as well.

Speaking during a visit to KoBold Metal’s Mingomba exploration site this morning, Mr. KAYUMBÀ said government believes that Copperbelt mining will soon have life and contribute to government aspirations of increasing copper production to 3-million tonnes in the next ten years.

Read full article

Source: ZNBC
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

Ambassador Michael Gonzales Remarks During his visit to Kobolds Mingomba Mine

Thank you all for having me and thank you to our hosts KoBold Metals for inviting us here today.  I’d also like to thank Presidential Special Assistant Jito Kayumba for joining us here today.

Six months after the conclusion of the U.S.-Africa Leaders’ Summit in December 2022, my first visit to KoBold’s Mingomba project is a reminder that the United States—not only the U.S. government, but the American private sector—is delivering on our commitments, our commitments to the people of Zambia.

During the Summit, President Biden announced that the U.S. government plans to invest $55 billion over the next three years across the African continent.  The Summit demonstrated our renewed commitment to partnerships between the United States and Africa: between countries, between institutions, and among our people.  We remain focused not on what we will do for Zambia as a donor, but what we will do with Zambia as a partner invested in Zambia’s success.  Because, we are investing in Zambia as we deepen and expand our partnership.

Read full article

Source: US Embassy Zambia
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

FQM’s Kansanshi mine hands over K1.2m cheques to six Solwezi cooperatives

First Quantum Minerals’ Kansanshi Mining PLC has handed over cheques amounting to K 1.2 million to six cooperatives engaged in various business activities, each receiving K 200,000 in a continued effort to support and improve the welfare and livelihood of communities in Solwezi.

The mining firm is alive of the fact that Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in rural communities, however, access to finance is a key constraint to SME growth, and it is one of the most cited obstacles that they are faced with.

The additional funding of K 1.2 million follows the initial K 756,000 given to the six groups in February earlier this year, with each having received K 126,000 to help kick-start their business activities around the District.

Read full article 

Source : Mining News Zambia
Annual Report Summaries, Investee Companies

Limestone Resources Limited (LRL) Extract from 2023 Annual Report

Limestone Resources Limited, formerly known as Ndola Lime Company, is specializing in the production and supply of limestone products. Its diverse product line-up includes quicklime, hydrated lime, and other lime product tailored to meet specific customer needs.  

The transition from Ndola Lime Company to Limestone Resources Limited represents a strategic move to address past challenges and leverage on new opportunities. This change signals an intent to revitalize the business, possibly by attracting new investment, improving operational efficiencies, and better aligning with market demands. Limestone Resources Limited’s journey reflects a commitment to not only continuing its legacy of quality limestone product supply but also enhancing its operational and financial health for future success.  

Limestone Resources Limited has an opportunity to attract fresh capital, revamp the business, and potentially cut the losses experienced by its predecessor, Ndola Limestone.  

During 2023, LRL continued to build up on the knowledge and experience of operating the modified VK2 which was fired in October 2022 after nearly 6 years of being idle. The modification and the prolonged idle time presented initial challenges which took time to resolve. VK 2 was the only operational kiln at the company as no restoration repair works were carried out on VK1, while the Rotary kiln remained mothballed.  

Production from VK2 was an average of 140 tonnes per day against the kiln’s capacity of 500 tonnes per day due to technical limitations on the kiln’s operating mode. Another key stumbling block to attain nameplate capacity was a lack of reliable mining equipment and a frequently malfunctioning crushing plant.  

Revenue for the year was ZMW96.7 million, a notable increase from ZMW26.8 million in 2022. The company made a loss of ZMW180.74 million (2022: ZMW90.81 million).  

There were no dividends declared during the year under review (Dec 2022: Nil) 
Annual Report Summaries, Investee Companies

NFC Africa Mining Plc (NFCA) Extract from 2023 Annual Report

For the year ended 31 December 2023, NFCA reported revenue of ZMW12.8 billion (US$619.82 million), (2022: ZMW9.9 billion (US$548.46 million)). The drop in year-on-year revenues were attributable to lower-than-expected production during the year due to a suspension of operations that occurred in November 2023. During the year under review, NFCA produced a total of 68,757 tonnes of copper compared to copper output of 67,626 tonnes produced in 2022.  

During the period under review, the Company recorded a profit of ZMW1.5 billion (US$76 million) (2022: ZMW1.01 billion (US$56.01 million)). Despite a drop in copper production, strong copper price and cost reduction initiatives led to the increase in profitability in 2023.  

The company currently has a high debt burden and the increase in US Dollar denominated lending rates has significantly increased the company’s interest costs.  

There were no dividends paid during the year ended 31 December 2023 (2022: ZMW51.78 (US$3 million)).  
Archived Jobs, Investee Companies, ZCCM-IH

Job Advertisement: Internal Audit Manager, Risk Officer

Background

Limestone Resources Limited (LRL) is one of the major producers and suppliers of Quicklime, Hydrated lime, and Limestone aggregates within the country and to the regional markets. LRL is wholly owned by ZCCM Investments Holdings Plc (ZCCM-IH). The majority shares of ZCCM-IH are held by the Industrial Development Corporation (IDC) which is wholly owned by the Government of the Republic of Zambia (GRZ).

LRL production facilities include a Quarry, fixed and mobile Crushing Plants, two (02) Vertical Kilns (Old and New), a Rotary Kiln, New Hydrating Plant, Coal/Quicklime Milling Plant, a Packaging and Bagging plant with associated support infrastructure.

 

Location

The plant is 12km road distance from the Ndola Central Business District, and 7km road connection to the Great North Road at ZESCO Skyways Substation. The address for Limestone Resources Limited is at Cleveland Park, plot No. 1523, Depot Road, P.O. Box 70057, Ndola.

 

The Company invites applications from suitably qualified and experienced persons who are innovative, energetic and performance driven to fill the positions of:

  1. Internal Audit Manager
  2. Risk Officer

Duty Station: Limestone Resources Limited, Copperbelt, Ndola.

Applications clearly marked ‘Internal Audit Manager’ and ‘Risk Officer’ together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than Monday, 12th June 2023

Only successful candidates will be communicated.

Women are strongly encouraged to apply.

 

Physical

Chief Human Resource & Administration Officer 

ZCCM Investments Holdings Plc

ZCCM IH Office Park, Alick Nkhata Road

P O Box 30040

LUSAKA

 

Electronic

Visit the ZCCM-IH Career page for this job advertisement at http://zccm-ih.com.zm/careers

Alternatively, forward your applications to: jobs@zccmnew.wpenginepowered.com

ZCCM-IH/HRD/Vacancy Announcements

 

Please refer to the links below for detailed information about the positions

Icon

JOB DESCRIPTION - RISK OFFICER 169.53 KB 2073 downloads

...
Download
Icon

JOB DESCRIPTION - INTERNAL AUDIT MANAGER 181.32 KB 1797 downloads

...
Download

 
Industry News, Investee Company News, ZCCM-IH News

Chibuluma Copper Mine Compensates and Relocates Families Affected by Pollution

Lufwanyama’s Chibuluma copper mine company in Copperbelt Province has compensated 42 families affected by pollution from its tailing dams. Benedict Mulenga, the Manager in charge of social services at Chibuluma mine, confirmed this during a joint inspection of the company’s infrastructure provided for the affected households.

Ms. Mulenga stated that the mining company has spent a total of K8 million on compensating the affected families. Monetary compensation was provided to the victims, and 42 housing units have been constructed for their relocation to a safer place. The housing units, located in Chief Nkana’s area, are at a completion level of 95% and vary in size from one to three bedrooms.

She assured that the relocation of all the families to the new site will take place soon. This action follows a government directive to Chibuluma mine, instructing them to compensate and relocate residents living near the mine’s danger zone. The directive was issued after the discovery that the particles in the dust from the mine’s tailing dams, which have been in existence for over 20 years, pose a health risk and can cause severe respiratory conditions if inhaled.

Lufwanyama District Commissioner Justin Mwalikwa commended Chibuluma mine for adhering to the government’s directive. He expressed satisfaction with the quality of the houses, water, and sanitary facilities that the mine has provided for the victims. Annie Kapandula, the Lufwanyama District Council Chairperson, urged the beneficiaries not to sell their new houses and to protect them diligently. She also assured them that the local authority would make efforts to ensure that all occupants receive title deeds for their new properties.

 

 

Source: Lusaka Times