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Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

FQM’s Kansanshi mine hands over K1.2m cheques to six Solwezi cooperatives

First Quantum Minerals’ Kansanshi Mining PLC has handed over cheques amounting to K 1.2 million to six cooperatives engaged in various business activities, each receiving K 200,000 in a continued effort to support and improve the welfare and livelihood of communities in Solwezi.

The mining firm is alive of the fact that Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in rural communities, however, access to finance is a key constraint to SME growth, and it is one of the most cited obstacles that they are faced with.

The additional funding of K 1.2 million follows the initial K 756,000 given to the six groups in February earlier this year, with each having received K 126,000 to help kick-start their business activities around the District.

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Source : Mining News Zambia

Annual Report Summaries, Investee Companies

Limestone Resources Limited (LRL) Extract from 2023 Annual Report

Limestone Resources Limited, formerly known as Ndola Lime Company, is specializing in the production and supply of limestone products. Its diverse product line-up includes quicklime, hydrated lime, and other lime product tailored to meet specific customer needs.  

The transition from Ndola Lime Company to Limestone Resources Limited represents a strategic move to address past challenges and leverage on new opportunities. This change signals an intent to revitalize the business, possibly by attracting new investment, improving operational efficiencies, and better aligning with market demands. Limestone Resources Limited’s journey reflects a commitment to not only continuing its legacy of quality limestone product supply but also enhancing its operational and financial health for future success.  

Limestone Resources Limited has an opportunity to attract fresh capital, revamp the business, and potentially cut the losses experienced by its predecessor, Ndola Limestone.  

During 2023, LRL continued to build up on the knowledge and experience of operating the modified VK2 which was fired in October 2022 after nearly 6 years of being idle. The modification and the prolonged idle time presented initial challenges which took time to resolve. VK 2 was the only operational kiln at the company as no restoration repair works were carried out on VK1, while the Rotary kiln remained mothballed.  

Production from VK2 was an average of 140 tonnes per day against the kiln’s capacity of 500 tonnes per day due to technical limitations on the kiln’s operating mode. Another key stumbling block to attain nameplate capacity was a lack of reliable mining equipment and a frequently malfunctioning crushing plant.  

Revenue for the year was ZMW96.7 million, a notable increase from ZMW26.8 million in 2022. The company made a loss of ZMW180.74 million (2022: ZMW90.81 million).  

There were no dividends declared during the year under review (Dec 2022: Nil) 

Industry News, ZCCM-IH News

Zambia in Top 10 mining countries of the world

The mining industry is a key player in the global economy, providing essential raw materials that fuel various industries and contribute to economic growth. From precious metals to fossil fuels, minerals extracted from the earth’s crust are integral to manufacturing, construction, energy production, and technological advancements. In this article, we delve into the top 20 mining countries in the world, exploring their mineral wealth, production capabilities, and the significant role they play in shaping the global mining landscape.

Mining has been an essential human activity for centuries, driving exploration and extraction in pursuit of valuable resources. Today, mining operations span across continents, with countries harnessing their geological advantages to access and utilize mineral reserves. These resources serve as the backbone of industrial development, enabling nations to meet domestic demands, stimulate exports, and foster economic prosperity.

 

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Source: Insider Monkey

Annual Report Summaries, Investee Companies

NFC Africa Mining Plc (NFCA) Extract from 2023 Annual Report

For the year ended 31 December 2023, NFCA reported revenue of ZMW12.8 billion (US$619.82 million), (2022: ZMW9.9 billion (US$548.46 million)). The drop in year-on-year revenues were attributable to lower-than-expected production during the year due to a suspension of operations that occurred in November 2023. During the year under review, NFCA produced a total of 68,757 tonnes of copper compared to copper output of 67,626 tonnes produced in 2022.  

During the period under review, the Company recorded a profit of ZMW1.5 billion (US$76 million) (2022: ZMW1.01 billion (US$56.01 million)). Despite a drop in copper production, strong copper price and cost reduction initiatives led to the increase in profitability in 2023.  

The company currently has a high debt burden and the increase in US Dollar denominated lending rates has significantly increased the company’s interest costs.  

There were no dividends paid during the year ended 31 December 2023 (2022: ZMW51.78 (US$3 million)).  

ZCCM-IH, ZCCM-IH News

FQM consolidates its Kansanshi mining operations in readiness for the S3 expansion

First Quantum Minerals will consolidate the Road and Earthworks Division, Mining Divisions and related supporting services currently carried out by First Quantum Mining Operations Limited (FQMO) with the operations at Kansanshi Mining Plc (KMP).

FQMO was the original First Quantum Minerals corporate entity in Zambia which operated the Bwana Mkubwa mine. Following the expansion of the First Quantum operations in Zambia, with both the Kansanshi and Sentinel mines, FQMO evolved to house a wide range of business functions to support these operations including mining, road and earthworks, exploration, corporate services, CSR, community health and other services….

 

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Source: Lusaka Times

Archived Jobs, ZCCM-IH

Job Advertisement: Manager Strategy

 

ZCCM Investments Holding Plc

Incorporated in the Republic of Zambia

VACANCY ANNOUNCEMENT 

 

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 be a transformative company with an investment agenda that benefits all our stakeholders”.    

 

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

 

Table: Vacancy(s) 

JOB TITLE     DIRECTORATE / DEPARTMENT  GRADE  NO. REQUIRED   SERVICE TYPE    STATION
Manager Strategy     Executive OfficeZH31Fixed Term Contract  Lusaka 
            

 

                                                             

                                                                    

Application clearly marked ‘MANAGER STRATEGY together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than Wednesday 21st June 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.zccmih.com.zm/careers

Alternatively, forward your applications to: jobs@zccmnew.wpenginepowered.com

 

 

Please refer to the links below for detailed information about the positions 

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JOB DESCRIPTION – MANAGER STRATEGY 84.34 KB 1072 downloads

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Archived Jobs, Investee Companies, ZCCM-IH

Job Advertisement: Internal Audit Manager, Risk Officer

Background

Limestone Resources Limited (LRL) is one of the major producers and suppliers of Quicklime, Hydrated lime, and Limestone aggregates within the country and to the regional markets. LRL is wholly owned by ZCCM Investments Holdings Plc (ZCCM-IH). The majority shares of ZCCM-IH are held by the Industrial Development Corporation (IDC) which is wholly owned by the Government of the Republic of Zambia (GRZ).

LRL production facilities include a Quarry, fixed and mobile Crushing Plants, two (02) Vertical Kilns (Old and New), a Rotary Kiln, New Hydrating Plant, Coal/Quicklime Milling Plant, a Packaging and Bagging plant with associated support infrastructure.

 

Location

The plant is 12km road distance from the Ndola Central Business District, and 7km road connection to the Great North Road at ZESCO Skyways Substation. The address for Limestone Resources Limited is at Cleveland Park, plot No. 1523, Depot Road, P.O. Box 70057, Ndola.

 

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

  1. Internal Audit Manager
  2. Risk Officer

Duty Station: Limestone Resources Limited, Copperbelt, Ndola.

Applications clearly marked ‘Internal Audit Manager’ and ‘Risk Officer’ together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than Monday, 12th June 2023

Only successful candidates will be communicated.

Women are strongly encouraged to apply.

 

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://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 - RISK OFFICER 169.53 KB 2247 downloads

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JOB DESCRIPTION - INTERNAL AUDIT MANAGER 181.32 KB 2015 downloads

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Industry News, Investee Company News, ZCCM-IH News

Chibuluma Copper Mine Compensates and Relocates Families Affected by Pollution

Lufwanyama’s Chibuluma copper mine company in Copperbelt Province has compensated 42 families affected by pollution from its tailing dams. Benedict Mulenga, the Manager in charge of social services at Chibuluma mine, confirmed this during a joint inspection of the company’s infrastructure provided for the affected households.

Ms. Mulenga stated that the mining company has spent a total of K8 million on compensating the affected families. Monetary compensation was provided to the victims, and 42 housing units have been constructed for their relocation to a safer place. The housing units, located in Chief Nkana’s area, are at a completion level of 95% and vary in size from one to three bedrooms.

She assured that the relocation of all the families to the new site will take place soon. This action follows a government directive to Chibuluma mine, instructing them to compensate and relocate residents living near the mine’s danger zone. The directive was issued after the discovery that the particles in the dust from the mine’s tailing dams, which have been in existence for over 20 years, pose a health risk and can cause severe respiratory conditions if inhaled.

Lufwanyama District Commissioner Justin Mwalikwa commended Chibuluma mine for adhering to the government’s directive. He expressed satisfaction with the quality of the houses, water, and sanitary facilities that the mine has provided for the victims. Annie Kapandula, the Lufwanyama District Council Chairperson, urged the beneficiaries not to sell their new houses and to protect them diligently. She also assured them that the local authority would make efforts to ensure that all occupants receive title deeds for their new properties.

 

 

Source: Lusaka Times

Annual Report Summaries, Investee Companies

Kansanshi Mining Plc (Kansanshi Extract from 2023 Annual Report

The principal activities of the mine includes mining, prospecting for minerals and processing of ore in Solwezi area of North Western Province. The key notable occurrences in 2023 were:  

 The successful conversion of ZCCM-IH’s dividend right in KMP to a 3.10% Life of Mine Royalty Right. This will ensure that ZCCM-IH’s cashflows are more stable and predictable going forward.  

 KMP implementation of the S3 Expansion project commenced. The S3 Expansion is a significant $1.5 billion investment by First Quantum Minerals aimed at extending the mine’s life into the 2040s, enhancing its production capacity, and generating employment opportunities. It includes expanding the mining pit, upgrading the fleet, and enlarging the processing plant and smelter. This expansion is pivotal for adding value within Zambia and contributes to the nation’s goal of increasing mineral processing locally and aiming to maximize the mine’s output and efficiency, thereby contributing to local economic development and job creation. Completion is anticipated by mid-2025.  

For the year ended 31 December 2023, Kansanshi recorded revenue of ZMW32.30 billion (US$1.57 billion) (2022: ZMW25.98 billion US$1.52 billion). Net profit over the period reduced to ZMW343.83 million (US$16.75 million) from ZMW 2.62 billion (US$153.93 million) in 2022. The geological and hydrological challenges at Kansanshi continued to affect average grades which were at 0.6% in 2023, significantly affecting the amount of copper and gold recovered.  

Royalties received in 2023 were ZMW1,200.19 million (US$56.13 million) and dividends received were ZMW170.74 million (US$9.05 million).