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Investee Companies, Investee Company News

CEC bags 2022 ZEMA Green Award

CEC has scooped the 2022 Green Award, conferred by the Zambia Environmental Management Agency (ZEMA) at this year’s Environmental and Climate Change Awards ceremony held on Thursday, 29 September.

It’s the second time in six years that CEC has taken the nation’s overall recognition for sustainable business conduct judged through improved environmental management practices. The Company’s maiden ZEMA Green Award came in 2016.

ZEMA’s criteria to be considered for this award includes demonstrated application of effort sufficient to meet environmental standards by making use of clean technology, waste minimization, pollution prevention and recycling and ecosystem restoration.

Senior Manager HSES & Risk, Caroline Sinkamba, commented: “We rewrite our green history not just once, because sustainability is our life.”

In the last 10 years, CEC has taken various environmental stewardship awards, including the top Environmental Award for Overall Contribution to Sound Management Practices in Industry in 2021.
ZCCM-IH, ZCCM-IH News

Mining sector is largest contributor to our revenue at 41.8% this year- ZRA

THE Zambia Revenue Authority (ZRA) says contrary to public perceptions that the mining sector is not contributing to the country’s revenue, the sector was the largest contributor between January and August 2022 at 41.8 percent. And Bank of Zambia governor Dr Denny Kalyalya says the central bank is willing to ramp up its gold reserves, but what is lacking is the supply chain of the commodity. Meanwhile, Secretary to the Treasury Felix Nkulukusa says the 2023 budget has reset the economy. Finance and National Planning Minister Dr Situmbeko Musokotwane has insisted that Zambia will sign the MoU with its official creditors within the first quarter of 2023. Speaking during the 2023 budget symposium, Monday, ZRA Commissioner General Dingani Banda revealed…

Read more: https://diggers.news/business/2022/10/04/mining-sector-was-largest-contributor-to-gross-collections-this-year-at-41-8-zra/
Corporate Social Investment, ZCCM-IH

Clean Water Comes Close To Home For Kamwesha Gold Panners And Households In Rufunsa

ZCCM-IH has handed over a solar-powered water borehole to the Kamwesha Community of Rufunsa District. The water borehole which is equipped with a solar powered pump and a 10, 000 litre tank will be used by the artisanal gold panners and surrounding households in the area. This is part of an initiative between ZCCM-IH and Zambia Gold Company Ltd aimed at ensuring artisanal gold panners have consistent water supply for gold processing purposes during the off-rainy season when streams dry out.  There are 4 gold panning cooperatives in the area with a total of 100 members.

The water borehole is also being utilised by over 23 nearby house holds, who have since started planting vegetable gardens near the borehole that is equipped with 3 water taps at different collection points. The households used to travel 5-10 km to draw water from a stream in the hills of the mountainous Kamwesha area.   

The commissioned water borehole system has in no doubt changed the lives of the local community and will go a long way in improving the activities and production of the artisanal gold miners in the area.

The water borehole is one of the three boreholes drilled in Rufunsa District, as part of our ‘Clean water for Zambia’ CSR project which started in 2017 and aimed at providing access to safe and clean water to the far-flung areas.  The project has since reached various communities around the country including Sinda, Petauke, Dudumwezi, Chilanga, Lufwanyama, Ndola, Masaiti, Mungwi, Mpika, Nyimba, Vubwi, Chongwe and Kaoma districts.

 

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Archived Tenders, ZCCM-IH

NOTICE OF BEST EVALUATED BIDDER – PROCUREMENT FOR DIAMOND DRILLING CORE SAMPLING WORKS IN RUFUNSA

The Procurement Committee has authorized the award of the contract for the procurement requirement to the “best-evaluated bidder” as detailed below.

It is the intention of the Procuring Entity to place a contract with the named bidder after ten (10) working days from the date of display given below.

Procurement Reference Number ZCCM-IH/043/2022
Procurement Description Diamond Drilling Core sampling Works Rufunsa District Covering License Area No. 25796-HQ-SEL
Method of Procurement Open National Bidding (ONB)
Name of the Best Evaluated Bidder Geohydro Consulting Services Limited,
Address of the Best Evaluated Bidder Plot No. 15 Manda Hill RD Olympia Park,
P.O Box 39333
Lusaka, Zambia.
Proposed Contract Price ZMW8,694,078.20, VAT Inclusive with a completion period of 13 weeks from commencement.
Date notification issued Thursday, 22nd September, 2022
Date of end of notification Wednesday, 5th October, 2022

Kindly note that this Notice does not constitute an award of contract to the bidder mentioned above. Bid acceptance and contract placement shall be in accordance with Part X of the Public Procurement Regulations.

Bidders have the right to appeal against the proposed award in accordance with Section 70 of the Public Procurement Act and Section 170 to 172 of the Regulations, provided the appeal is made within ten (10) days of the date of this notice

Read the full document here: Notice of Best Evaluated Bidder – Procurement for Diamond Drilling Core Sampling Works in Rufunsa – Revised
Corporate Social Investment, ZCCM-IH

ZCCM-IH Hands Over Water Borehole To Lukwipa Community In Rufunsa

ZCCM Investment Holdings (ZCCM-IH) has donated a solar powered water borehole and a 10, 000 litre water tank to the Lukwipa Community in Rufunsa District. The donation has been made as a part of the ZCCM-IH “Clean Water for Zambia” initiative born from the United Nations Sixth Sustainable Development Goal to provide clean water and sanitation to all by 2030.

Handing over the borehole to the Lukwipa Community, ZCCM-IH Chief Financial Officer, Ms. Chilandu Sakala, said the installation of the solar powered borehole in Lukwipa is a demonstration of ZCCM-IH’s social corporate responsibility of value creation in the communities that the company invests in.

“As a company, we deliberately balance the support we give through our corporate social responsibility activities to communities where value creation of the company’s investments exists, and other areas not necessarily directly connected to where a ZCCM-IH asset or investment is located. We strongly believe that areas that we do not have direct business interests should also be included in our CSR activities so that all Zambians can benefit from the company’s operations.” ZCCM-IH in collaboration with its subsidiary, Zambia Gold Company Limited (ZGC) are currently carrying out exploration works in Rufunsa District and are committed to ensure that benefits of their presence in Rufunsa are delivered to the community.

Her Royal Highness Chieftainess Mpanshya, and Rufunsa District Commissioner, Mr. Richard Mabena graced the event held in Mika village.

Chieftainess Mpanshya expressed happiness that ZCCM-IH had installed and officially handed over the borehole. “When touring my chiefdom, I noticed that there was a great challenge of water in the community, and this borehole will ease the hardships that were faced before its installation” said Chieftainess Mpanshya who further urged the community to look after the borehole and protect it from vandalism or theft of the solar panels in particular. 

Also speaking at the handover event, Rufunsa District Commissioner, Mr.  Richard Mabena urged any would be investors and those operating in the area to invest in the community as part of their corporate social responsibility obligation. Mr. Mabena said such investments would help improve the living standard of the local community. He noted that there was a lot of charcoal burning and deforestation in the area, which would now be averted by the availability of water in the area for farming and other activities.

The water borehole was officially handed over and commissioned by ZCCM-IH Board member Bishop John Mambo in the company of Mrs Chilandu Sakala and Zambia Gold Company members of staff. ZCCM-IH has sunk three solar powered boreholes in the Rufunsa area that are equipped each with a ten thousand litre tank and tank stand, all valued at a combined cost of 862,000.00 Zambian Kwacha.

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Annual Report Summaries, Investee Companies

Misenge Environmental and Technical Services Limited (METS) Extract from 2022 Annual Report  

Misenge Environmental and Technical Services Limited (METS) generated a total of ZMW 4.93 million in revenue for the year ended 31st December 2022 (2021: ZMW17.11 million). METS reported a net loss of ZMW4.39 million (2021: ZMW2.51 million profit)  

During the period under review, METS continued the implementation of its Strategic Turnaround and Marketing Plan. ZCCM-IH capitalised the company with ZMW45.323 million during the year. Management also made steady efforts to raise capital for equipment and develop non-ZCCM-IH business relationships for the formation of strategic alliances and partnerships in the provision of environmental services.  

There were no dividends declared during the period under review (December 2021: Nil)  
Annual Report Summaries, Investee Companies

Copperbelt Energy Corporation Plc (CEC) Extract from 2022 Annual Report

During the year ended 31 December 2022, CEC reported total revenue of ZMW6.34 billion (US$374.44 million), (2021: ZMW6.74 billion (US$342.52 million)) and profit after tax of ZMW1.68 billion (US$98.71 million), (2021: ZMW1.01 billion (US$51.25 million)).  

The Bulk Supply Agreement between CEC and ZESCO that expired on 31 March 2020 was renewed after the year end on 7 April 2022. This delay negatively impacted the business’ margins and performance. Nonetheless, CEC proved to be a resilient business and continued to thrive and diversify its operations in spite of the challenges faced.  

Further, CEC successfully contested Statutory Instrument (SI) No.57 of 2020 that declared its transmission and distribution lines as common carrier. The declaration was quashed by the high court and replaced by SI No. 24 of 2021. The court did not pronounce itself on the said SI, as the new government took the decision to repeal the SI No. 24 of 2021. This action has fully restored CEC’s commercial rights over it’s own infrastructure. For the year under review, the CEC share price opened at ZMW 1.10 per share and closed at ZMW 1.95. Based on the period-to- 30 September 2021 performance, CEC management did not budget for any dividend payment. However due to unexpected improvements in financial performance.  

The Company declared and paid a dividend of US$ 50.37 million with ZCCM-IH receiving US$ 10.3 million (2021: US$9 million).  
Annual Report Summaries, Investee Companies

Kabundi Resources Limited) Extract from 2022 Annual Report

For the year ended 31 December 2022, Kabundi Resources Limited (KRL) reported total revenues of ZMW13.64 million (2021: ZMW 5.58 million) with a net profit of ZMW5.5 million (2021: ZMW 1.95 million net loss).  

Kabundi Resources Limited (KRL) began its own mining operations to try and boost revenues in addition to the existing royalty arrangement that had been in place since inception. A total of 26,133 tonnes of manganese was produced during the year ended 31st December 2022.  

In the period under review, Kabundi made progress with phase 2 which included starting own mining and conducting additional exploration activities. This was made possible through additional funding that was provided by the shareholders.  

During the period under review KRL continued its mining activities on Three (3) sites namely “Kabundi A & B” and also in Ntenge where KRL had acquired another mining license. Going forward, the Company’s focus will be to acquire mining equipment and further Kabundi paid management fees totalling ZMW 0.9 million to ZCCM-IH in the period under review.  

There were no dividends declared during the period under review (December 2021: Nil).  
Investee Companies, Investee Company News, ZCCM-IH News

Konkola: Key to hitting 3 million tonnes copper target

The new dawn government of President Hakainde Hichilema has set its vision clearly when it comes to copper mining – it wants to ramp up production to three million tonnes per annum in the next decade.

With current production standing around 800,000 metric tonnes (mt) per annum, it is quite an ambitious plan – too ambitious, some in the industry have argued.
But there is good motivation for such efforts – an expected huge demand for copper driven by the nascent electric car industry, and the price for the red metal, which peaked above US$10,000 per tonne about two years ago.

Copper prices reached an all-time high of US$10,512 per metric tonne on May 9, 2021, but have receded to about US$8,000 in the recent past, which is still a good price for copper producing countries such as Zambia.

Some mining companies in the country are already responding accordingly to the prospect of high demand, making new investments to increase production. But one major player, Konkola Copper Mines (KCM), cannot rush to the table yet, held back by

 

Read more: http://www.daily-mail.co.zm/konkola-key-to-hitting-3-million-tonnes-copper-target/
Annual Report Summaries, Investee Companies

Lubambe Copper Mine Limited Extract from 2022 Annual Report

Lubambe Copper Mine Limited (Lubambe) reported total revenue of ZMW 2.38 billion (US$ 139.72 million) (2021: 2.9 billion (US$148.60 million)). Over the same period, the Company recorded a loss of ZMW1.83 billion (US$ 107.12 million), (2021: loss of ZMW1.81 billion (US$ 92.0 million)). Lubambe’ s road to recovery was a challenging one for the period under review as problems of poor ground conditions, dewatering challenges, effectts of Covid-19 and high ore dilution persisted. Management changed its mining methods and mine plan following completion of the SRK technical report. Production performances improved in the second half of 2022. Lubambe produced 17,310 tonnes in payable copper against a budget of 20,955 tonnes.  

Subsequent to the year end, Lubambe announced the US$ 150 million investment by Kobold which shall be used for exploration activities for the Extension project, debt restructuring and operations of the business. The Extension project area shall be transferred into a new licence under a new company, MIingomba Mining Limited. ZCCM-IH still retaining 20% in both existing mine license and new license for the Extension Project area. The transaction was completed subsequent to year end.  

Lubambe existing license has remaining life of the mine of circa 7 years and there is need to explore business opportunities.  

There were no dividends paid during the year under review (2021: Nil).