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Press Releases, ZCCM-IH, ZCCM-IH News

ZCCM-IH Has Not Lost Control of Kasenseli Gold Mine

 

14th February 2024, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) would like to dismiss allegations that the Company has lost control of Kasenseli Gold Mine as reported in some sections of media houses.

The resumption of mining operations at Kasenseli Gold mine is imminent following the amicable resolution of disputes raised by one of the Kasenseli Gold Company Limited shareholders (Kampoko Resources Ltd) and Chief Chibwika’s agreement to grant the consent to mine.

ZCCM-IH hereby refutes the unsubstantiated reports that it has lost control of its stake in Mwinilunga’ s Kasenseli Mine which comprises of two mining pits, and that it has failed to pay a revenue share to PCB Mining Ltd as being inaccurate. The PCB matter is actively before the Courts of Law and there is no determination on the merits of the case in the Court of Appeal.

ZCCM-IH continues to engage with all stakeholders inclusive of PCB who are currently involved in discussions to settle the disputes, and to operationalise the Kasenseli Mine as per ZCCM-IH’s mandate, for the benefit of the people of Mwinilunga and the Zambian people at large.

 

Corporate Social Investment, ZCCM-IH

ZCCM-IH donates K1 million towards the fight against cholera

ZCCM Investments Holdings (ZCCM-IH) has donated K1 million to the Ministry of Health towards the provision of essential food supplies at cholera treatment centres.  

ZCCM-IH CEO, Dr Ndoba Vibetti, handed over the cheque to the Ministry of Health, which was received by the Minister of Health Hon. Sylvia Masebo this afternoon.  

In his speech during the handover, Dr Vibetti said the amount is targeted at meeting the nutritional needs of both patients and health workers at cholera treatment centres.  He added that, “Proper nutrition is integral to the effectiveness of medical treatments. By ensuring that cholera patients receive nutritious meals, we can contribute to improved treatment outcomes, faster recovery times, and a reduced burden on the healthcare system.”

Receiving the cheque on behalf of the Ministry, Hon. Sylvia Masebo expressed gratitude and gave assurance that the donation will go towards its intended purpose. “Our patients and staff at the treatment centres receive a good diet because of support such as this. Good nutrition is important to us. This will go a long way in combating the scourge,” said Hon. Masebo.  

ZCCM-IH commended the Ministry and all the frontline workers for their tireless efforts in overcoming this public health challenge. Watch the donation handover ceremony here

Archived Tenders, ZCCM-IH

NOTICE_OF_BEST_EVALUATED_BIDDER – PROVISION OF SECURITY SERVICES AT ZCCM-IH FACILITIES

Notice of the Best Evaluated Bidder

 

The Procurement Committee has authorised to award 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/036/2023
Procurement Description:Provision of Security Services to ZCCM-IH Facilities
Lot AwardedLot No. I – Provision of Security services at ZCCM-IH Office Park, 30B Kudu Road in Kabulonga, and Village Villas in Roma Park, Lusaka.
Method of Procurement:Open National Bidding (ONB)
Name of Best Evaluated Bidder:Arm-Safety Security Company Limited
Address of the Best Evaluated Bidder:P.O Box 33827

Plot No. 11463/2 Mwalule Road, Northmead, Lusaka, Zambia.

Proposed Contract Price:ZMW 572,976.00 VAT Incl.
Lot AwardedLot No. 2 – Provision of Security Services at Investments House, Kitwe; Technical Library and Mawe Complex in Kalulushi.
Method of Procurement:Open National Bidding (ONB)
Name of Best Evaluated Bidder:Rondy Logistics and security Services Limited
Address of the Best Evaluated Bidder:

 

 

 

Plot No. 1794, Off Freedom Avenue, Mwandi Crescent, Riverside,

Plot 17, Obote Avenue, 1st Floor Room 24,

Kitwe Chambers Building P.O Box 21879 Kitwe, Zambia

Proposed Contract Price:ZMW1,090,800.00 VAT Incl.
Lot AwardedLot No. 3 – Provision of Security Services at Kabwe Offices & Laboratory in Kabwe.
Name of Best Evaluated Bidder:Rondy Logistics and security Services Limited
Address of the Best Evaluated Bidder:Plot No. 1794, Off Freedom Avenue, Mwandi Crescent, Riverside,

Plot 17, Obote Avenue, 1st Floor Room 24,

Kitwe Chambers Building P.O Box 21879 Kitwe, Zambia

Proposed Contract Price:ZMW153,600.00VAT Incl.
Date Notification IssuedMonday, 20th November 2023
Date for End of Notification Period:Friday, 1st December 2023

 

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.

 

 

                                                                                                                                       

Annual Report Summaries, Investee Companies

Misenge Environmental and Technical Services Limited (METS) Extract from 2023 Annual Report

Misenge Environmental and Technical Services Ltd (METS) is a subsidiary of ZCCM-IH, and its business activities is to provide a wide range of environmental, analytical, radiation safety, and engineering services. METS prides itself on being a multifaceted, full-service company with a strong record in environmental management within Zambia’s mining and mineral processing industry. Its service range includes environmental impact assessments, environmental compliance audits, mineral sample preparation, water supply and sewerage systems design, radiation safety management, and many more. The company operates with a clear vision to lead in providing its specialized services in Zambia, driven by a mission to deliver these services efficiently to maximize shareholder value .  

For the fiscal year ended December 31, 2023, METS reported a total of ZMW 14.63 million in revenue for the year ended 31st December 2023 (2022: ZMW10.61 million restated), and net loss of ZMW6.48 million (2022: profit of ZMW1.01 million restated) The company has been actively seeking to increase third-party business by participating in several bids during the year.  

There were no dividends declared during the period under review (December 2022: Nil). 

Industry News, Press Releases, ZCCM-IH News

ZCCM-IH Shareholders to Receive a K724 million Dividend Payout as the Company Records a Total of K5.94 billion in Company Profit

02nd October 2023, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH)  shareholders during the Company’s nineteenth (19th) Annual General Meeting (AGM) held on Friday, 29th September 2023, approved combined dividends totalling K724 million for the financial years ended 31 December 2022 and 31 December 2021. Government will get over half a billion Kwacha (K562 million) from this amount through the Industrial Development Corporation (K437 million) and the Ministry of Finance and National Planning (K125 million).
 
A total of K387.23 million and K336.07 million was approved for the year ended 31 December 2022 and 31 December 2021 respectively. This follows a Company profit of ZMW4.26 billion and ZMW1.68 billion recorded for the years ended 31 December 2022 and 31 December 2021 respectively. This represents a year-on-year increase in profits of 154% (2022) and149% (2021). The improved performance at Company level is attributed to an increased quantum of dividend receipts and improvements in the performance of investee companies. Further, the overall performance of the investee companies that paid dividends was positively impacted by favourable and sustained copper prices during the two (2) reporting periods.
 
At Group level, revenues of ZMW11.96 billion and ZMW14.40 billion were recorded for years ended 31 December 2022 and 31 December 2021respectively. Increased revenue in 2021 and 2022 is due to the acquisition of Mopani Copper Mines PLC which accounts for an average of 98% of Group revenue. The dividends declared for the 2021 and 2022 financial years represents the seventh (7th) and eighth (8th) consecutive dividend declaration by ZCCM-IH respectively. ZCCM-IH has paid a total of K1.4 billion in dividends to its shareholders since 2015.
 
 
End
 
Issued by:
ORIGINAL SIGNED
 
Loisa Mbatha
Corporate Affairs Manager
ZCCM Investments Holdings Plc
loisa.mbatha@zccmnew.wpenginepowered.com
Investee Companies, Investee Company News

CNMC to invest US$1.3bn

China Non-ferrous Mining Corporation (CNMC) has pledged US$1.3 billion investment for the next five years to cater for its various operations in mining, science and education technology.

CNMC group chairperson Xi Zhengping yesterday told President Hakainde Hichilema that by the end of 2025, half of the US$1.3 billion investment would have been completed and the Chambeshi Copper Mines would also receive US$450 million.

He said there were plans to reopen shaft 28 at the Luanshya Copper Mine with an investment of US$600 million while about US$200 million would be invested in Sino Metals and a warehouse project.

Mr. Xi Zhengping who was on a three-day visit to Zambia said just like Zambians, his company had confidence in the Government to attract investment and improve the people’s lives. He said his company was also ready to assist Zambia in mineral explorations and greenfields using its expertise in geological explorations.

“Zambia is also endowed with other mineral resources such as lithium, manganese, zinc and other resources, so we are willing to do more work on this as well,” he said.

Read More 

Annual Report Summaries, Investee Companies

Lubambe Copper Mines Limited Extract from 2023 Annual Report

Lubambe Copper Mine Limited (Lubambe) reported total revenue of ZMW2.52 billion (US$ 122.59 million) (2022: ZMW2.38 billion (US$139.72 million)). Over the same period, the Company recorded a loss of ZMW3.06 billion (US$ 148.86 million (2022: loss of ZMW1.83 billion loss (US$107.12 million)). Lubambe’s road to recovery was challenging due to poor ground conditions, dewatering challenges, and high ore dilution. Management changed its mining methods and mine plan following completion of the SRK technical report. In the period under review, the company implemented its 420-pump station to improve flooding and ground conditions for mining. Lubambe produced 14,984 tonnes in payable copper against a budget of 22,979 tonnes.  

Lubambe completed the US$150 million investment by Kobold which was for debt restructuring and operations of the business. This also resulted in the separation of the highly promising Extension Project into Mingomba Mining Limited (Mingomba) with ZCCM-IH still retaining 20% in both Lubambe and Mingomba. US$35 million of the funding was committed for Mingomba explorations. This has been on-going throughout the period under review. Lubambe’s existing licence has a remaining life of the mine of less than 7 years and there is need to explore new business opportunities.  

There were no dividends paid during the year (2022: Nil). 

Available Jobs, ZCCM-IH

Job Advertisement: Technical Assistant Geology & Legal Counsel

EMPLOYMENT OPPORTUNITY

ZCCM Investments Holdings PLC is an investments holdings company with diversified interests in mining, energy, and other sectors of the Zambian economy. The Company’s majority shareholder is the Industrial Development Corporation Ltd (IDC), an investment company wholly owned by the Zambian Government and the rest of the shareholders are institutional and private shareholders spread across the world.

The mission of the Company is “To create tangible wealth sustainably for the benefit

of the Zambia people and all our stakeholders”.

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

Table: Vacancies

JOB TITLE

DIRECTORATE / DEPARTMENT

GRADE

NO. REQUIRED

SERVICE TYPE

STATION

Legal Counsel -Litigation

Legal

ZH4

1

Permanent & Pensionable

Kitwe

Technical -Assistant Geology

Technical

ZH5

1

Permanent & Pensionable

Kalulushi

     

Application clearly marked ‘LEGAL COUNSEL – DISPUTE RESOLUTION ‘OR “TECHNICAL ASSISTANT – GEOLOGY” together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than Tuesday 26th September 2023.

Women are strongly encouraged to apply.

Only shortlisted candidates will be communicated to.

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://www.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 

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JOB DESCRIPTION – Technical Assistance - Geology 877.64 KB 441 downloads

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JOB DESCRIPTION – Legal Counsel -Litigation 135.78 KB 786 downloads

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Annual Report Summaries, Investee Companies

Consolidated Gold Company of Zambia Limited (CGCZ) Extract from 2023 Annual Report

The Consolidated Gold Company of Zambia Limited (CGCZ) represents a collaborative venture between ZCCM-IH, holding a 45% stake, and Karma Mining Services and Rural Development, with a 55% share. Established in 2020, this Special Purpose Vehicle is dedicated to establishing a central hub for gold processing and trading within Zambia.  

During the year ended 31st December 2023, the Company produced 90.6kg (2022: 50.7kg) of gold, the majority of which was sold to Zambia Gold Company. Revenue for the year ended 31st December 2023 was ZMW54.20 million (2022: ZMW 50.81 million). CGCZ recorded a loss for the year of ZMW9.44 million (2022: -ZMW8.76 million)  

Due to ongoing profitability challenges stemming from the company’s inability to control the supply of gold feedstock, the ZCCM-IH Board approved a divestiture from CGCZ. The Share Purchase Agreement and the Deed of Mutual Termination were executed during the year, awaiting the fulfilment of the condition’s precedent specified in the agreement. ZCCM-IH is set to recover its initial investment of US$1.568 million over three years. Karma has already paid an upfront fee of US$679,600. 

Annual Report Summaries, Investee Companies

CNMC Luanshya Copper Mines Plc (CLM) Extract from 2023 Annual Report

The principal activity of the Company continued to be the mining of copper and exploration for other base and precious metals.  

As at 31st December 2023, CLM recorded revenue of ZMW8.5 billion (US$414.51 million) (2022: ZMW7.95 billion (US$467.47 million). The drop in year-on-year revenue was attributable to a reduction in copper production due to the loss of ore from Baluba underground mine which was decommissioned in December 2022. During the period under review, CLM produced a total of 48,904 tonnes of copper compared to copper output of 53,952 tonnes produced in 2022.  

Key developments:  

CNMC Luanshya Copper Mines (LCM) is set to revitalize the old Luanshya Mine with a $500 million investment, aiming to create over 3,000 jobs and annually produce 40,000 tonnes of copper concentrate. This initiative comes after the mine was dormant for 22 years due to waterlogging issues. The feasibility study for reopening the mine is underway, with dewatering scheduled to start in April 2024 following the rainy season.  

For the year ended 31st December 2023, the Company recorded a profit of ZMW2.93 billion (US$142.71 million) (2022: ZMW1.68 billion (US$98.71 million). Despite a drop in copper production, strong copper price and cost reduction initiatives led to the increase in profitability in 2023.  

Due to this improved performance and positive equity position, the Company declared dividends of US$30 million with US$6 million paid to ZCCM-IH (2022: US$70 million was declared).