Konkola Copper Mines (KCM) has clarified as grossly misleading Vedanta Resources report in relation to the ongoing liquidation process and the impending arbitration between Vedanta and ZCCM-IH.
KCM General Manager Corporate Affairs Shapi Shachinda said Vedanta Resources has decided to misrepresent the purport of the Partial Award by the Arbitral Tribunal.
Mr Shachinda said the award dealt with the issue as to whether the Arbitrator had jurisdiction to hear the dispute. The Arbitrator has found that he has jurisdiction and consequently that the winding up proceedings in the High Court should be stayed.
THERE are heartwarming positive signs coming from Mopani Copper Mines (MCM), where copper production is on a significant rise, particularly after change of management.
Evidently, there is something good happening at the mine and Zambia can be proud of its own people ably managing such a key resource.
MCM produced 9,007 tonnes of the finished commodity in June, rising from 8,306 tonnes noted in April this year.
Apart from the increased production, MCM management has also cut down monthly operational costs by almost half – from a staggering US$60 million to US$35 million.
Zambia Gold Company Limited (Zambia Gold) was incorporated on 10 January 2020. Zambia Gold (the ‘Company’) is co-owned by ZCCM Investments Holdings Plc with a 51% stake and the Ministry of Finance owning the remaining 49% stake. Zambia Gold is mandated to lead the development of the gold sector in Zambia by undertaking commercial activities for the benefit of all stakeholders. In order to achieve this objective, Zambia Gold Company will broadly undertake the following activities:
Acquire exploration licenses and carry out mineral exploration with a focus on gold (either directly or in partnership with other entities)
Develop and operate mines for gold and other precious minerals
Refining, grading, producing, cutting and processing of gold and other precious minerals
Buying and selling of gold and other minerals
Support artisanal mining operations and transforming these into commercially viable activities
Pursue value addition opportunities in the precious metals sector
In order to achieve this mission, the Company invites applications from suitably qualified and experienced individuals who are innovative, energetic and performance-driven to fill the following positions:
1. Civil Engineer X 1
Location : Lusaka Department : Mining Report to : Manager Engineering Services Job Purpose To handle all matters relating to civil engineering construction and maintenance in the company. Maintain at all times high standards of Safety and Environmental management expected for the operations. Main duties
Develop a detailed operational plan relating to civil works for the Company
Attend to all new civil engineering construction works and designs (roads, buildings, water dams, tailings dams, drainages etc.)
Attend to all civil engineering faults and repairs.
Carry out preventive maintenance of all civil engineering works in the company.
Ensure that materials required for civil engineering works are available.
Initiate procurement of required civil engineering materials for both new and old projects on site.
Carry out all new installations and modifications of civil engineering works as directed by the supervisors.
Ensure that any work is carried out in a safe and environmentally friendly manner.
Ensure that all equipment relating to civil engineering works are in good operating state
Compile weekly, monthly, quarterly, and annual civil engineering status reports.
Qualifications and experience
Professional Qualifications Full Grade 12 Certificate
Bachelor’s Degree Civil Engineering or its equivalent
Master Degree in a relevant field will be an added advantage.
Professional membership
Minimum Relevant Pre-Job Experience: 7 years’ experience in a similar position.
Skill Specifications: Sound mathematical, scientific and IT skills
Excellent verbal and written communication skills
Ability to work to deadlines and within budget
Problem solving skills
Ability to maintain an overview of entire projects while continuing to attend to detailed technicalities
Complete knowledge of relevant legislation
Negotiating, supervisory and leadership skills
d) Other Attributes (Personality Traits) Creativity
Persuasive
Pleasant
e) Valid Driver’ s license
2. Safety Officer X 1
Location: Mwinilunga Department: Mining Report to: Project Manager
Job Purpose To undertake work place activities to ensure that workers comply with company policies, procedures and government safety regulations and maintenance of Health and Safety Management System (HSES) records in order to facilitate decision making Main duties
Developing and implementing safety policies to reduce accident-related cost and prevent losses due to a decline in productivity
Conduct safety inspections.
Conduct safety training, coaching/induction.
Conduct risk assessments.
Conduct monthly safety meetings.
Prepare Safety Topics (Daily, weekly and monthly).
Investigate incident/accident/RCAT.
Ensuring compliance with the Occupational Safety & Heath Administration, commonly known as OSHAs and other relevant regulations
Supervise sub-contractors in issues pertaining to HSES
Compile weekly , monthly, quarterly and annual civil engineering status reports
Qualifications and experience
Professional Qualifications Full Grade 12 Certificate
Diploma in Occupational Health and Safety Management Systems or its equivalent
Degree in a relevant field will be an added advantage.
Professional membership
Minimum Relevant Pre-Job Experience: More than 5 years’ experience in both mining or construction industry
Skill Specifications: Excellent verbal and written communication skills
Computer skills
Problem solving skills
Supervisory and leadership skill
d) Other Attributes (Personality Traits) Deep appreciation of mining regulations
Persuasive
Pleasant
e) Valid Driver’ s license
3. Assistant Security Officer-General Duties X 12
Location: Mwinilunga Department: Human Resources Report to: Security Officer-General Duties Job Purpose To provide and deliver efficient and quality security by protecting company property, employees, visitors and contractor employees. Main duties
Coordinate preliminary investigations of all crimes, or any losses incurred by the Company, Staff and Clients.
Provide physical means of protecting staff and property and should be very alert for proper guarding against thefts, pilferage, accidents and intruders.
Maintain all the key register properly and shall secure the keys properly in a designated safe place.
Maintains and updates all the documentations on a daily basis
Conduct internal patrols during the tenure of duty.
Allocate duties to hired security Guards and ensuring that the guards are aware of their post and site instructions
Ensures that the search of baggage of employees, visitors and motor vehicles is carried out effectively.
Maintain the visitors register properly.
Maintain all security devices and products in good condition
Prepare and submit daily security reports
Qualifications and experience
Professional Qualifications Full Grade 12 Certificate
Certificate in Security (Police or Military) or its equivalent
Relevant tertiary qualification will be an added advantage.
Professional membership
Minimum Relevant Pre-Job Experience: 6 years’ experience in a similar position.
Skill Specifications: Verbal and written Communication skills
Computer skills
Critical thinking skills
d) Other Attributes (Personality Traits) Honesty and integrity
Sober character
Physical stamina
Teamwork
Courage
Morality
Appreciation of the Zambian Laws
Persuasive
Pleasant
4. Assistant Security Officer-Investigations X 2
Location: Mwinilunga Department: Human Resources Report to: Security Officer-Investigations Job Purpose Provide expert evidence regarding complex site investigations of fraud and theft-related incidents. Main duties
Prepare and present investigation enquiries to management
Prepare and present docket enquiry files for Zambian Police Service as directed by the Investigations Superintendent
Investigate incidents and occurrences as directed by the company Investigation Superintendent or Security Manager
Call handling and initial response to reports of breaches of the company procedures or code of conduct
Criminal Court attendant in relation to enquiries and investigations undertaken on behalf of the company.
Attend to crime scenes relevant to the company`s business in Zambia
Investigate white collar and syndicate crime affecting the company’s operations in Zambia
Maintenance of Security incidents and investigation records.
Loading of all statements, documentation, exhibits and photographs onto PPM 200.
Compile and gather evidence
Qualifications and experience
Professional Qualifications Full Grade 12 Certificate
Certificate in Security (Police or Military) or it’s equivalent
Diploma in investigations, law, or any discipline in Social Sciences/Commercial field Professional membership
Minimum Relevant Pre-Job Experience: A minimum of at least 7 years’ experience in a reputable organisation with a criminal investigation bias or forensic knowledge.
Skill Specifications: Verbal and written communication skills
Computer skills
Critical thinking skills
d) Other Attributes (Personality Traits) Honest and integrity
Sober character
Appreciation of the Zambian Laws
Persuasive
Pleasant
e) Valid clean Driver’ s license
5. Excavator Equipment Operator X 2
Location: Mwinilunga Department: Mining Report to: Shift Supervisor
Job Purpose Safe operations of Excavator Equipment and perform other duties at Kasenseli Gold Project Mine Site as need may arise. Maintain at all times high standards of Safety and Environmental management expected for the Main duties
Loads ADT’s (Articulated Dump Trucks) in a safe and productive manner as per operating standards.
Completes correct pre-start checks and correct start up procedure on excavator.
Maintains safe and clean working area of loading bays.
Maintains housekeeping standards on the excavator.
Carry out other projects work at Kasenseli Gold Project as directed by the supervisors.
Co-ordinates excavator moves in a safe and productive manner.
Selectively mine required material as per Supervisor instructions.
Qualifications and experience
Professional Qualifications Prefeably full Grade 12 Certificate
RTSA Code B Driving Licence or Heavy equipment certificate from recognised institution is desirable
Experience in excavating in rocky terrain will be added advantage.
Minimum Relevant Pre-Job Experience: 6 years work experience in mining industry or any other operations
Skill Specifications: Good Communication skills.
Knowledge of Health and Safety rules.
Reliable, Team player, self-starter and self-supervisor.
d) Other Attributes (Personality Traits) Honest
Integrity
Persuasive
Pleasant
6. Articulated Dump Truck Equipment Operator X 1
Location: Mwinilunga Department: Mining Report to: Shift Superviso
Job Purpose Safe operations of ADT Equipment and perform other duties at Kasenseli Gold Project Mine Site as need may arise. Maintain at all times high standards of Safety and Environmental management expected for the operations. Main duties
Operates the ADT (Articulated Dump Truck) in a safe and productive manner as per operating standards.
Completes correct pre-start checks and correct start up procedure on the ADT.
Obeys haul routes speed limits and minimises spillages on haul routes.
Maintains housekeeping standards on the ADT.
Carry out other projects work at Kasenseli Gold Project as directed by the supervisor.
Should be able to effectively reverse in tight and steep areas when loading and tipping.
Qualifications and experience
Professional Qualifications Prefeably full Grade 12 Certificate
RTSA Code B Driving Licence or Heavy equipment certificate from recognised institution is desirable
Work experience in rocky terrain will be added advantage.
Minimum Relevant Pre-Job Experience: 6 years work experience in mining industry or any other operations
Skill Specifications: Good Communication skills.
Knowledge of Health and Safety rules.
Reliable, Team player, self-starter and self-supervisor.
d) Other Attributes (Personality Traits) Honest
Integrity
Persuasive
Pleasant
Zambia Gold Company Limited provides equal employment opportunities to all Zambians on merit without discrimination on the basis of age, gender, colour, tribe, disability, or religion.
Interested, suitably qualified and experienced persons should send their application together with certified copies of Academic and Professional certificates; a detailed Curriculum Vitae with traceable references and copy of the NRC should reach the undersigned not later than Friday, 23rd July, 2021.
Only shortlisted candidates will be responded to. Head Human Resources and Administration Zambia Gold Company Limited Subdivision F/377a/30/B Kudu Road, Kabulonga LUSAKA
Mining giant, ZCCM Investments Holdings (IH) has signed Group Restructuring and Reorganization Agreement with the Industrial Development Corporation Limited (IDC) that will see the former transferring its shares in Investrust Bank Plc and Mushe Milling Limited, it has been announced.
Shareholders of ZCCM Investments Holdings Plc -ZCCM-IH- have approved a 53 million Kwacha dividend at 33 ngwee per share.
This follows a profit of 153.4 million Kwacha at the company level for the financial year ending December 2019.
The dividend was approved during the virtual 17th Annual General Meeting held today.
At the ZCCM-IH Group level, profit for the period was 307 million Kwacha compared to 448 million Kwacha for 31st March 2019 year end.
Public Relations Manager LOISA KAKOMA says in a statement that the decline in profit is on account of 57 percent reduction in share of profit from companies such as Kansanshi Mining Plc and Copperbelt Energy Corporation -CEC- Plc.
She says the Group’s total assets increased by 14 percent and an 18 percent rise in retained earnings while at Company level, retained earnings increased by 19 percent due to the profit recorded for the period of 153.4 million Kwacha.
This is the fifth consecutive time that the Company has declared a dividend in line with its strategic goal of ensuring shareholder return on investment.
ZCCM-IH has paid out 590 million Kwacha in total dividend to its shareholders in the past five years.
ZCCM-IH has shares in about 20 companies, many of them mining firms.
Shareholders in Zambia’s largest mining investment firm have been advised that the arbitration case involving one of its investee companies has continued to progress and is nearing an end, according to a statement from ZCCM IH.
“Further to the cautionary announcement dated 25 November 2020, the Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company” or “the Board”) hereby wishes to inform shareholders and the market that arbitration proceedings against ZCCM-IH and Kansanshi Mining Plc (“KMP”) by Kansanshi Holdings Limited (“KHL”) have progressed”, read the latest statement on the matter from Company Secretary Chabby Chabala on 23 June 2021. “The arbitration tribunal has issued a Partial Final Award (dated 29 January 2021) in the arbitration, pursuant to which ZCCM-IH’s defence has been successful and various declarations have been granted in ZCCM-IH’s favour”.
The matter in question relates to “the arbitration proceedings that followed a criminal complaint made by ZCCM-IH with allegations of an unauthorised transfer of money by Kansanshi Mining to First Quantum’s local subsidiary”, according to Reuters in 2019.
Shareholders will recall the Reuters article that covered the story which disclosed the interdependency of “a separate case that ZCCM-IH began action in October 2016 to sue First Quantum for $1.4 billion over claims that the Canadian company borrowed $2.3 billion from its Zambian copper mining subsidiary Kansanshi without informing ZCCM-IH, a minority shareholder”.
In their latest statement, ZCCM IH indicates that “certain matters remain outstanding and will be addressed by the tribunal in the Final Award”.
Despite this signaling a favorable arbitrational journey, “shareholders were still advised that the matter is still on-going and may still have a material effect on the price of the Company’s securities. This is why ZCCM IH will continue to update Shareholders as the case progresses.
When the ZCCM IH board meets with investors later this month, they will be unveiling a new Director on their board.
“Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of ZCCM Investments Holdings Plc (the “Board”) wishes to announce the appointment of Mr Michael Chibonga as a Director on the Board of Directors of the company with effect from 7 June 2021. Mr Chibonga is a Director at the Mining Cadastre Department at the Ministry of Mines and Minerals Development (“MoMMD”)”, read a statement published on SENS issued by Company Secretary Chabby Chabala on 21 June 2021.
Michael holds a Bachelor of Mineral Sciences-Mining Engineering from the University of Zambia and a Masters of Engineering Science-Project Management from the University of New South Wales in Sydney, Australia.
His experience in the mining sector was the attractive preposition of having him join an already illustrious board that is currently led by Eric Silwamba. “Mr Chibonga has vast experience at senior level management. Prior to his appointment as Director at the Mining Cadastre Department, Mr Chibonga held the position of Head-Mining Cadastre Unit from 2013 to 2018”.
ZCCM IH’s Board will also be seeking to tap into Michael’s vast knowledge of the Zambian mining sector because of their bold ambitions of dominating the mining sector in country. “He has worked at the Ministry in various portfolios, amongst others, Mining Engineer and Senior Mining Engineer. He has also worked at Konkola Copper Mines PLC between 2003 and 2005 when he was on secondment from MoMMD”.
When ZCCM IH management team led by Mabvuto Chipata and the Board of Directors of Zambia’s biggest mining investment company meet with shareholders at the end of June 2021, they will be announcing a USD 2.390 million dividend for its shareholders.
Maintaining the dividend policy has been a strategic intent for the Management Team. This is why they have made significant developments in ensuring their mining value chain focus strategy is implemented.According to the latest SENS announcement from the investment group issued by Company Secretary Chabby Chabala and published on 14 June 2021 in Lusaka, “the Directors will recommend a final dividend payout of USD2,391,590.11”. This translates to ZMW53,064, 601.26 at K0.33 per share.
According to the published statement, “ZCCM-IH’s investments are steered towards the mining sector” with the three core strategies being employed targeted at driving portfolio growth which include:
Pursuit of the royalty model in order to introduce new revenue stream;
Realignment of the portfolio to achieve more focus in mining and mining related activities; and
Development of turnaround strategies for loss making subsidiaries.
This strategy has seen the company increase it state in a number of its investee companies with the most significant one being the Mopani takeover.
Despite the COVID 19 pandemic, the ZCCM IH management team remain bullish. The reason for this may include a glossier outlook for commodities on the international market. In May 2021, copper prices for example had reached $10, 628 per tonne.
However, “despite these challenges, ZCCM-IH is committed to enhance value creation for its shareholders”. This is the motivation of making investments and having more influence in the mining value chain. “Thus, ZCCMIH will continue to diversify within the mining sector to mitigate slumps that may be experienced in some metals at a particular time while taking advantage of surges occurring in other metals during the same time”.
ZCCM-IH has posted a profit after tax of over K307 million in its first nine-month financial year, mainly boosted by returns from its investee companies in the mining sector.
According to an audited statement of profit or loss and other comprehensive income for its nine-month financial year ending December 31, 2019, ZCCM-IH has announced that it earned a profit of over K307 million, triggered by strong income generated from its investee companies in its group portfolio.
The ZCCM-IH Group consisted of eight subsidiary companies as at December 31, 2019, including Investrust Bank Plc and Ndola Lime Company Limited, among others.
“The Group reported a profit for the nine-month period of K307 million (March 2019: K448 million. The 31 per cent decrease in profitability was mainly due to the fact that the previous period is accounting for 12 months as compared to 9 months for the current period. Furthermore, there was a decrease in share of profit of equity accounted investee companies on account of the impairment of receivables by associate companies such as Kansanshi Mining Plc and Copperbelt Energy Corporation Plc,” the statement read.
At company-level, ZCCM-IH reported a profit for the year of K153 million compared to incurring a K108 million loss in the 12-month period ending March 31, 2019, mainly due to exchange gains on foreign denominated assets and reduced administrative costs, among others.
The Group’s total assets increased by 14 per cent to K15.2 billion as at December 31, 2019, from K13.4 billion as at March 31, 2019, mainly attributed to an increase in values of investments in associates from K10.3 billion as at March 31, 2019, to K11.9 billion.
Three core strategies employed in the mining sector were cited as having contributed to ZCCM-IH’s impressive profitability during its nine-month financial year.
“ZCCM-IH’s investments were steered towards the mining sector. Thus, three core strategies were employed targeted at driving portfolio growth which were: Pursuit of the royalty model in order to introduce new revenue stream; realignment of the portfolio to achieve more focus in mining and mining-related activities and development of turnaround strategies for loss-making subsidiaries,” explained ZCCM-IH company Secretary Chabby Chabala.
“ZCCM-IH is committed to enhance value creation for its shareholders. Thus, ZCCM-IH will continue to diversify within the mining sector to mitigate slumps that may be experienced in some metals at a particular time while taking advantage of surges occurring in other metals during the same time.”
Directors will recommend a final dividend pay-out of K53.1 million in total, translating to around K0.33 per share.
ZCCM IH has released the following SENS announcement regarding its financial results for 2019.
“In accordance with Section 3.4(b) Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of ZCCM-Investments Holdings Plc (the “Company” or “ZCCM-IH”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the Group and Company for the nine-month financial period ended 31 December 2019 is expected to be approximately 32% lower and 242% higher respectively, than the financial year ended 31 March 2019.
The movement in EPS for the Group is primarily attributed to the reduction of ZMW553 million in share of profit from investee companies coupled with loss recognised from investments held for sale of ZMW74 million. On the other hand, the movement in ESP for the company is attributed to a reduction in administration expenses and impairment of financial assets recognised at fair value through profit or loss.
Shareholders are advised that the information contained in this trading statement has not been reviewed or reported on by the external auditors of the Company. The Company expects to release its abridged audited Financial Results for the nine-month period ended 31 December 2019 on Securities Exchange News Services (“SENS”) and published in the local press on or about 14 June 2021. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results”.
By Order of the Board Chabby Chabala Company Secretary Issued in Lusaka, Zambia on 11 June 2021
Zambia Gold Company Limited (Zambia Gold) was incorporated on 10 January 2020. Zambia Gold (the ‘Company’) is co-owned by ZCCM Investments Holdings Plc with a 51% stake and the Ministry of Finance owning the remaining 49% stake. Zambia Gold is mandated to lead the development of the gold sector in Zambia by undertaking commercial activities for the benefit of all stakeholders. In order to achieve this objective, Zambia Gold Company will broadly undertake the following activities:
