THE Copperbelt Energy Corporation (CEC) has forged partnerships with three private companies in establishing solar-powered plants estimated to cost US$340 million that will be generating 230 megawatts (MW) of electricity.
CEC has formed a consortium with a French company in implementing the GET Fit programme, a government programme aimed at enhancing the use of renewable energy in the country.https://epaper.daily-mail.co.zm/
GOVERNMENT has granted the Copperbelt Energy Corporation (CEC) approval to import about 200 megawatts (MW) of power from the Southern Africa Power Pool (SAPP) to mitigate the supply deficit in the wake of the power shortfall being experienced in the country.
SAPP is a cooperation of the national electricity companies in Southern Africa under the auspices of the Southern African Development Community (SADC).
CEC supplies power to the mines on the Copperbelt and in the Democratic Republic of Congo (DRC), some which is sourced locally from Zesco Limited through the bulk power supply agreement.
he Copperbelt Energy Corporation (CEC) has donated a motor vehicle to the Zambia Police Service in Kitwe to enhance security of strategic power installations on the Copperbelt.
The Motor vehicle valued at US $40,000 was received by Home Affairs Minister Stephen Kampyongo who was accompanied by Copperbelt Provincial Minister Japhen Mwakalombe and Inspector General of Police Kakoma Kanganja.
Speaking at the handover ceremony that was held at the CEC offices in Kitwe today, Home Affairs Minister Stephen Kampyongo said the donation has come at the right and critical time when mobility of the police officers is most important in the maintenance of law and order and protection of strategic infrastructure.
“We cannot as a country afford vandalism to our essential energy infrastructure at a time when the country is stressed by inadequate production of electricity due to the inadequate rainfall received in the southern half of the country, ” Mr Kampyongo charged.
He said while government is committed to providing necessary tools and equipment to the police officers, they were yet to be fully equipment to curb crime and vandalism of critical economic infrastructure.
He said the donation will enhance the Ministry’s resolve to discharge its mandate of protecting property and people.
Kampyongo further appealed to other corporate entities on the Copperbelt and the country as a whole to emulate CEC in supporting the police.
And CEC Board Chairman, London Mwafulilwa said the company has been experiencing a heightened spate of infringements to its electrical installations ranging from vandalism and theft of transmission lines for copper conductors.
Mwafulilwa said these have resulted in the monetary losses as well as disruptions in service delivery to productive sectors of the economy reliant on power.
He stated that this year alone, the company has recorded 10 cases of theft and three of vandalism where about 1, 505 metres of its overhead copper conductors have been cut off and stolen from the system on the Copperbelt.
He noted that arresting the market for copper conductors would help curb the problem.
Mwafulilwa further proposed that the police considers deploying dedicated officers to work on anti-theft involving conductors and other components of electrical systems containing copper for the benefit of all power utilities in the country.
And Copperbelt Police Commissioner Charity Katanga said the donated vehicle will enhance the operations of the police in curbing crimes targeted at CEC power installations.
Investrust Bank Plc has sued Lawrence Sikutwa and Associates Limited and another company in the Lusaka High Court, demanding payment of over K11 million, which was allegedly secured by way of a third-party mortgage.
The bank has cited Lawrence Sikutwa and Associates Limited as a first respondent, Amalgamated Tourism Investment Limited as second respondent and Sikutwa as third respondent, respectively.
In an affidavit in support of originating summons, Investrust Bank credit manager Chisanga Ireen Komeki stated that Lawrence Sikutwa and Associates was a customer of the bank with an account, but disclosed that the company had defaulted in servicing four loans.
She explained that in March, 2013, Lawrence Sikutwa and Associates applied and was availed a refinance and restructured loan facility of K10 million, plus compound interest accrued by way of a third-party mortgage.
“In March, 2013, Lawrence Sikutwa and Associates in its own volition and request, applied for and was availed by the bank, a refinance and restructured loan facility for K10 million, plus compound interest accrued by way of a third-party mortgage dated May 17, 2013, over the remaining extent of S/D of Stand No. 1942, Livingstone, by Amalgamated and a third-party mortgage dated May 17, 2013, over Stand no. 3938, Lusaka by Sikutwa and personal guarantee by the third-respondent,” read the affidavit.
Komeki stated that as further security, Sikutwa executed a director’s personal guarantee as continuing security for the whole K10 million interest, costs and expenses and guarantying the repayment of the said sum to the bank.
She further disclosed that in October, 2013, Lawrence Sikutwa and Associates of its volition and request, also applied for and was availed a short-term loan facility of K2,910,267.53 plus compound interest, secured by further charge dated December 31, 2013, over the Lusaka Stand by Sikutwa.
Komeki stated that in February, 2016, Sikutwa applied and was availed restricted and enhanced loan facility by the bank in the sum of K7,407,497.00 plus compound interest to be secured by, among others, continuing security of the third-party mortgage.
She stated that in February, 2015, Lawrence Sikutwa and Associates procured a finance lease facility in the sum of US $38,277.60 for the purchase of a motor vehicle namely, Ford Ranger 3.2 diesel D/Cab LTD 4×4.
Komeki disclosed that the company had defaulted in servicing the four said loans and had failed or neglected to adhere to the repayment terms despite numerous reminders from the bank, thereby, resulting in the loss and damage to the bank.
She added that it was an express term of the various loan agreements that in the event that Lawrence Sikutwa and Associates failed to repay the monies within the stipulated period, the bank would be at liberty to enforce the securities alluded to.
Komeki explained that Lawrence Sikutwa and Associates was at of May 15, this year, indebted to the bank in the sum of K11,652,847.80.
Investrust Bank is now seeking payment of charge created by Sikutwa in favour of his firm in respect of Stand No.3938, Lusaka and the third-party mortgage over REM/Stand1942/A, Livingstone created by Amalgamated in favour of Lawrence Sikutwa and Associates.
Its also seeking an order that, should Lawrence Sikutwa and Associates neglect or refuse to pay the aforementioned monies, the third-party mortgage and favour charge created by Sikutwa in favour of his firm in respect of the stands in Lusaka and third-party mortgage over the stand in Livingstone created by Amalgamated, be enforced by the order of foreclosure, vacant possession and sale thereof.
Investrust is further seeking an order for the payment of the sum of K11,652,847.80 as of May 15, 2019, plus interest by Sikutwa arising out of personal guarantee dated April 12, 2013, which Sikutwa personally guaranteed to pay.
The matter will be heard on August 27.
Mopani Copper Mines has commenced the process of backfilling the sinkhole near the South Ore Body (SOB) Shaft in Kitwe.
Public Relations Manager Nebert Mulenga said the move is a safety precaution in line with mine safety regulations.
He said backfilling exercise has already started and will go on until the process is completed.
“Mopani Copper Mines Plc is working closely with the Mines Safety Department (MSD), Zambia Police Service and other relevant authorities during this operation,” Mulenga said.
He said the sinkhole is a two-hectare caving area within Mopani Copper Mines Plc’s mining rights area and was a safety hazard to the informal miners invading it.
Last week, the mining giant had illegal miners to contend with immediately an announcement was made that the area would be closed, a move that sparked riots in Kitwe’s Wusakile Township.
Mines Minister Richard Musukwa says government has not started any negotiations with any potential buyer of Konkola Copper Mine (KCM) Plc’s assets.
Musukwa explained that there had been no steps to invite effective bids of the sale of KCM’s assets as the process would be done after the pending court clearance.
The Minister said this in Parliament, Tuesday, when he responded to a written question from Nchanga PF member of parliament Chali Chilombo, who wanted to know whether government was aware that the residents of Chililabombwe and Chingola were extremely anxious over the liquidation of KCM and if so, how far government had gone with the potential buyers of KCM’s assets.
“Madam Speaker, in recognizing the guidance and sanctity of the Judiciary, who are handling the matters concerning the liquidation process of Konkola Copper Mine, government has not started any negotiations with any potential buyer of KCM assets. However, KCM has been visited by several sections of international and local entities expressing interest following the announcement of the divorce process by Konkola Copper Mine and ZCCM-IH. There has been no steps to invite effective bids of the sale of the assets. This process will be done and has been reserved awaiting clearance from the courts of law, which we respect. The House may wish to know that the liquidation process is basically the first process before resolving the issues surrounding KCM. We have taken advice to ensure that the sale is done within the confines of the law and pursuant to a court order,” Musukwa said.
He insisted that there was no sale that would take place at KCM, which would undermine the integrity of the court process.
“In that regard, no sale will be undertaken that undermines the integrity of the court process, and as government, we understand that the due process of the law has to be followed and respected and we are committed to that effect. Madam Speaker, to this effect, I wish to state that the High Court proceedings, which are currently going on, are matters that the Government of the Republic of Zambia continues to respect because we are a government of laws,” Musukwa said.
And Musukwa said the decision to offload KCM was made on account of the deteriorating social and economic situation caused by Vedanta Resources’ mismanagement.
“Government is fully aware of the anxieties of residents of Chililabombwe and Chingola over the future of KCM. The House may wish to know that residents of Chingola and Chililabombwe started raising concerns over the future of KCM way before the commencement of the liquidation process. The action Zambia Consolidated Investment ZCCM-IH took was on account of deteriorating social and economic situation caused by mismanagement of KCM by Vedanta. If left unchecked, it would have spelt catastrophe for the residents of Chililabombwe and Chingola and the entire Copperbelt,” said Musukwa.
“Government also has a duty to safeguard its citizens and the actions were taken in that context. The ultimate aim of ZCCM-IH instituting the liquidation process was to secure an investor who would develop the mine to its full potential guaranteeing the much-needed jobs and business opportunities on the Copperbelt in particular, Chingola, Chililabombwe and other peripheral areas.”
Shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) are referred to the announcement dated Wednesday 23rd May 2019, in which they were advised that ZCCM-IH filed a petition in the High Court of Zambia for the winding up of Konkola Copper Mines Plc on 21st May 2019. ZCCM-IH filed the said petition pursuant to section 56 (1) (c) of the Corporate Insolvency Act No. 9 of 2017. By Order of the Court, Mr. Milingo Lungu of Lungu Simwanza & Company was appointed as provisional liquidator.
On 3 July 2019, Vedanta Resources Limited (“Vedanta”) obtained an Order of Court to commence legal proceedings against ZCCM-IH in the High Court of South Africa. By Notice of Motion dated 3 July 2019, Vedanta seeks to stay the liquidation proceedings in Zambia and to have the powers of the liquidator discharged.
ZCCM-IH will provide details of these proceedings in due course.
In the meantime, Shareholders of ZCCM-IH are advised to exercise caution when dealing in securities of the Company until further information is published.
By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 15th July 2019
Shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) are referred to the announcement dated Wednesday 23rd May 2019, in which they were advised that ZCCM-IH filed a petition in the High Court of Zambia for the winding up of Konkola Copper Mines Plc on 21st May 2019. ZCCM-IH filed the said petition pursuant to section 56 (1) (c) of the Corporate Insolvency Act No. 9 of 2017. By Order of the Court, Mr. Milingo Lungu of Lungu Simwanza & Company was appointed as provisional liquidator.
On 3 July 2019, Vedanta Resources Limited (“Vedanta”) obtained an Order of Court to commence legal proceedings against ZCCM-IH in the High Court of South Africa. By Notice of Motion dated 3 July 2019, Vedanta seeks to stay the liquidation proceedings in Zambia and to have the powers of the liquidator discharged.
ZCCM-IH will provide details of these proceedings in due course.
In the meantime, Shareholders of ZCCM-IH are advised to exercise caution when dealing in securities of the Company until further information is published.
By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 15th July 2019
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First Issued on 23 May 2019
THE Zambian government’s interventionist approach to its mining sector was on display after the country’s mines minister, Richard Musukwa, was quoted by Reuters as having said a law would be passed to improve local procurement.
Musukwa said during a meeting with suppliers, labour unions and other officials on the proposed law that the mining sector imported goods and services worth over $4bn annually but only 10% went to local suppliers.
“This is a mismatch and must not be entertained,” Musukwa was quoted as saying. “Mining investors have been a darling of foreign contractors,” he said, without specifying how much the government wanted miners to procure locally.
Zambia’s comparative advantage is in mining, and the government needs to ensure that the mining industry drives growth in other sectors of the economy, Musukwa added.
Zambia is Africa’s second-largest copper producer, with copper mining accounting for around 70% of foreign currency earnings, said Reuters.
The country is currently embroiled in a legal dispute with Vedanta Resources over ownership of Konkola Copper Mines in which ZCCM-IH, a state-owned company, has a 20.6% stake. It has gone to the courts to wind up the company which it intends to sell to another company.
Whilst Zambia has said its dispute with Vedanta is an isolated incident, it has increasingly voiced its displeasure with the mining sector.
On May 24, Zambia said it may conduct audits at all its mines in order to check for some of the breaches imputed to KCM. Two weeks later, the country’s president, Edgar Lungu, said Zambia would break ties with mining companies that failed to meet its laws.
Chibuluma Mine Board Chairperson and Country Manager Jackson Sikamo has passed away.
Mr. Sikamo the Meturllagist profession has worked for several mines before he assumed the role of being General Manager of Chibuluma Mine and later He had gone to South Africa for an operation and since then he had not recovered.
Source: The Independent Observer