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Annual Report Summaries, Investee Companies

Mopani Copper Mines Plc Extract from 2022 Annual Report

For the year ended 31st December 2022, Mopani Copper Mines (MCM) recorded cumulative net revenue of ZMW11.85 billion (US$695.26 million), (2021:ZMW14.16 billion (US$877.38 million)). The net loss for the year under review was ZMW5.05 billion (US$296.36 million), (2021:ZMW76.82 billion profit (US$3.90 billion)).  

During the year under review, MCM produced a total of 72,694 tonnes of finished copper (2021: 87,618 tonnes). The smelter underwent a 45-day shutdown from August 2022 to September 2022 for maintenance, refurbishment of critical components and replacement of refractory bricks. The maintenance works set up the smelter to operate for another two-year campaign.  

ZCCM-IH engaged Rothschild & Co, a globally renowned investment bank, in June 2022 to assist with the strategic review of Mopani for the purposes of sustainability, expansion and growth. Rothschild & Co undertaking the assessment in two phases. Under Phase 1, Rothschild & Co. will undertake the restructuring of Mopani in a phased approach with assistance from appropriate legal and technical advisors to maintain Mopani as a going concern and build resilience. Under Phase 2, Rothschild & Co will assist ZCCM-IH in finding a Strategic Equity Partner.  

During the year under review, ZCCM-IH continued to support MCM by providing Corporate Guarantee of up to US$45 million to various banks for the provision of Mopani’s working capital facilities from various banks.  

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

Zambia Gold Company Limited (ZGC) Extract from 2022 Annual Report

Zambia Gold Company Limited (ZGC) reported revenue of ZMW 0.03 million (2021: ZMW 68.29 million) for the year ended 31 December 2022. During the period under review, no Gold sales were made during the year (2021: 62.02 Kg) due to the suspension of mining activities at Kasenseli Gold Mine by the Mines Safety Department (MSD). Net loss recorded for the period was ZMW 51.57 million (2021: net loss of ZMW 0.59 million).  

For the year under review, ZGC did not produce any gold due to the suspension of mining activities at Kasenseli which is the main source of gold production against a budget of 339.3 kg. ZGC has formulated an action plan to address the issues raised by MSD which were conditions set for lifting the suspension. ZGC has also engaged key stakeholders to facilitate and accelerate the opening of the Mine. The action plan has since been completed and submitted to key stakeholders.  

ZGC shall continue conducting exploration activities on its other licences and partnership with third party licence holders. ZGC launched the value addition business model in line with its strategic mandate of developing the gold sub-sector.  

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

Rembrandt Properties Limited Extract from 2022 Annual Report

Rembrandt Properties Limited (Rembrandt) is a Special Purpose Vehicle between ZCCM-IH (49%), Urban Brands Asset Management (25.5%) and Sims Capital Ltd (25.5%). Rembrandt was specifically formed to develop the Leopards Square Hotel, a 74-key (room) hotel. In addition to ZCCM-IH equity contribution, the Company raised about US$2.2million in equity contribution from the other Shareholders and debt finance from ZANACO.  

The project faced several setbacks to completion among them, Covid-19 pandemic, delayed disbursement of loan proceeds and property redesign after the initial anchor tenant Food Lovers left the building. The building is about 95% complete; awaiting completion of the four (4) ground floor rooms, nine (9) upper deck rooms and a sky bar and circa US$200k to take the building to 100% completion. The project, nevertheless, went on soft opening to the general public on 1 June 2022 with conferences and the restaurant all kicking off at the same time as the hotel commenced operations. Since September 2022, the Tenant (Urban Hotel Lusaka) has been grossing an average of ZMW2.5 million per month from operating the property.  

There were no dividends paid during the year under review (2021: Nil).  
Annual Report Summaries, Investee Companies

Chibuluma Mines Plc Extract from 2022 Annual Report 

Chibuluma remains on lease to LC & Y with no operations of its own as the life of mine has been depleted. The company received a total of US$ 0.26 million in royalty revenue against a budget of US$ 0.23 Million. The company is currently exploring potential areas that would be deemed viable for renewed mining and has engaged Kobold Metals of the USA to apply their advanced Artificial Intelligence technology to enhance chances of discovery.  
ZCCM-IH, ZCCM-IH News

MINISTER INVITES INVESTORS TO MINING, AGRO SECTORS

MINISTER of Small and Medium Enterprises Development Elias Mubanga has called on delegates at the ongoing Global Entrepreneurship Congress (GEC) to explore investment opportunities in Zambia’s mining and agriculture sectors.

The GEC, being held in Saudi Arabia, has brought together policy-makers, cooperating partners and entrepreneurs from over 200 countries.

During the meeting, government ministers responsible for advancing entrepreneurship in their respective countries interact with experts and learn how they can foster growth of enterprises.

The theme is ‘Reboot, rethink and regenerate’.

Speaking during a ministerial meeting, Mr Mubanga encouraged investors to visit Zambia and sample the investments opportunities in the mining and agriculture sectors.

He urged investors to take advantage of opportunities in the agriculture sector by investing in

Read more: http://www.daily-mail.co.zm/minister-invites-investors-to-mining-agro-sectors/
Archived Tenders, ZCCM-IH

General Procurement Notice

ZCCM-IH 2022 Approved Procurement Plan

ZCCM Investments Holdings Plc. has received financing from own sources toward the Budget for 2022 Financial Year for the categories mentioned here below. This publication is in accordance with the Public Procurement Regulations of 2011 clause 26 (4). Further, a more detailed procurement plan to include the simplified bidding can be accessed on the Zambia Public Procurement Authority (ZPPA) website.

Read the full document here: 2022 ZCCM-IH Procurement Plan (PP) for Publication
Archived Tenders, ZCCM-IH

NOTICE OF BEST EVALUATED BIDDER

Provision of Insurance Cover to ZCCM-IH (2022-2025)

The Service Providers named below have been evaluated as the best evaluated bidders for the procurement requirements detailed below. In accordance with the requirement of clause 121 of the Public Procurement Regulations, 2011, it is the intention of ZCCM Investments Holdings Plc (ZCCM-IH), the procuring entity, to award the contracts to the bidders named after ten (10) working days from the display given below.

Procurement Reference     Number ZCCM-IH/009/2021
Procurement Description Provision of Insurance Services to ZCCM-IH (2022-25)
Method of Procurement Open National Bidding
Names and Addresses of Best Evaluated Bidders Lot 1 (Provision of Group Life Assurance) – Guardian Insurance Brokers Limited, Plot No. 10c of 284a, Omelo Mumba Road, Rhodes Park, P.O. Box 37722, Lusaka, Zambia

Lot 2 (Provision of Group Personal Accident Insurance) – Swan Insurance, Stand No: 35184, Insurance Park, Alick Nkhata Road, P.O Box 37041 – Lusaka, Zambia

Lot 3 (Provision of Non-Life Insurance) – Swan Insurance, Stand No: 35184, Insurance Park, Alick Nkhata Road, P.O Box 37041 – Lusaka, Zambia

Lot 4 (Provision of Travel Insurance) – Guardian Insurance Brokers Limited, Plot No. 10c of 284a, Omelo Mumba Road, Rhodes Park, P.O. Box 37722, Lusaka, Zambia
Proposed Contract Prices Lot 1 – ZMW1,005,423.00 with a duration of 3 years.
Lot 2 – ZMW159,850.50 with a duration of 3 years.
Lot 3 – ZMW 560,050.38 with a duration of 3 years.
Lot 4 – ZMW 756,060.00 with a duration of 3 years.
Date of Display 23rd March 2022
Date of Removal 6th April 2022

The display of this notice does not constitute an award of contract to the Bidders mentioned above.

Bid acceptance and contract placement shall be in accordance with the Public Procurement Regulations. Bidders have the right to appeal, in accordance with the Public Procurement Regulations, 2011, within ten (10) working days from the date of publication of this notice.

Read the full document here: Notice of Best Evaluated Bidder – Provision of Insurance Services to ZCCM-IH (2022 – 2025)
Archived Tenders, ZCCM-IH

Request for Expressions of Interest

Request for Expressions of Interest (EOI) for the Provision of Consultancy to Develop The Environmental, Social, and Governance Policies, Procedures, Strategy and Framework for ZCCM-IH Contract No.: ZCCM-IH/074/2022 

1.    BACKGROUND

Environmental, Social and Governance (ESG) has come increasingly to the forefront primarily through investors globally demanding increased attention on environmental, social and governance-related matters and data. Investors are starting to look beyond financial statements and now want to consider the ethics, competitive advantage and culture of a mining organization.

Locally, public policy and regulations are being strengthened by the Zambian Government geared towards combating climate change and drive sustainability.

In line with its strategic plan ZCCM-IH has committed to incorporating ESG factors in the Investment Appraisal process. In this regard, the Consultant shall also be required to transfer knowledge that shall culminate into hands -on capacity building for the 30-40 selected ZCCM-IH staff.

The Company thus intends to engage a consultant to develop and integrate an ESG strategy into Corporate Strategy and Business Planning Processes.

2.    GOALS/OBJECTIVES.

To develop and integrate ESG principles in ZCCM-IH business and investment strategy and financial reporting. Further, to ensure the selected ZCCM-IH staff team is equipped to overcome obstacles and are ready to assist ZCCM-IH coordinate variety strands of capacity building performances in the future.

3.    SCOPE OF WORK

  1. Review existing relevant Company policies and procedures.
  2. Undertake ESG materiality map of the company.
  3. Undertake an ESG risk assessment of the company.
  4. Develop the ESG Policy.
  5. Develop the ESG strategy/Plan.
  6. Develop ESG Investment Procedures.
  7. Develop company policies, procedures, and templates for identifying, managing, and monitoring environmental, social and governance (ESG) issues are up to date.
  8. Develop and implement the ESG reporting framework and standards combining the UN Principles for Responsible Investment (PRI), Task Force on Climate-Related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB).
  9. Produce the first Company ESG Report in line with the standards highlighted; and,

ZCCM-IH now invites eligible consultants to indicate their interest in providing the above services. Interested firms must provide information to demonstrate that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions etc.).

Interested consultants may obtain further information at the address below during office hours between 08:00 – 13:00 hours and between 14:00 – 17:00 hours local time from Monday to Friday.

A consultant will be selected using the Quality and Cost Based Selection (QCBS) method. Interested consultants must submit one (01) original and three (03) hard copies of the Expression of Interest (EOI) to the address below no later than Wednesday, 6th April 2022.

Procurement Manager
ZCCM Investments Holdings Plc
ZCCM-IH Office Park
Stand No. 16806, Alick Nkhata Road
Mass Media Complex Area
P.O. Box 30048
Lusaka.
Email: katongo.kabwe@zccmnew.wpenginepowered.com;

Read the full document here: Request for EOIs Consultancy to Develop The Environmental Social and Governance Policies Procedures Strategy and Framework For ZCCM-IH.
Investee Companies, Investee Company News

PROCESS OF APPOINTING NEW KCM PROVISIONAL LIQUIDATOR UNDERWAY – KABUSWE

MINES and Minerals Development Minister Paul Kabuswe says the process of appointing a new Konkola Copper Mines provisional liquidator is underway, following Milingo Lungu’s resignation. In an interview, Kabuswe said the UPND government had the will, desire and drive to fund KCM and would go out of its way to ensure that the mine succeeds. “That is the route that we are taking, the process of another liquidator is already underway. Of course, those are now processes that should be done by the official receiver, so it is not the

Read more: https://diggers.news/business/2022/03/23/process-appointing-new-kcm-provisional-liquidator-underway-kabuswe/