TRYNESS MBALE, Lusaka
ZCCM-INVESTMENTS Holdings (ZCCM-IH) has provided a US$16.5 million loan for the recapitalisation of Ndola Lime Company (NLC) project to increase lime production.
The project, known as VK-2, is expected to be commissioned in September and is anticipated to increase lime production by 500 tonnes per day to 900 tonnes and also substitute the less efficient rotary kiln’s capacity of 400 tonnes per day.
This is contained in the firm’s directors’ interim summary report for the six months period ended March 31, 2015 availed to the Daily Mail on Thursday.
“The recapitalisation project at NLC continued. ZCCM-IH provided additional shareholder loan of US$16.5 million for the NLC recapitalisation project,” the report reads.
The VK-2 will use coal as opposed to heavy fuel oil (HFO).
This will enhance the prospects of reducing operating costs and make the products competitive.
Meanwhile, ZCCM-IH has reversed the decision to use Mawe Exploration and Technical Services Limited, to play a catalytic role in exploration of base metals and other minerals, oil and gas following a review of the structure and operations of the firm.
In 2013, ZCCM-IH incorporated its wholly owned subsidiary, Mawe Exploration and Technical Services Limited whose objective was to develop local content and beneficiation capabilities, small-scale mining development, as well as the provision of attendant quality mining services.
“Following a review of the structure and operations of Mawe Exploration and Technical Services Limited, ZCCM-IH reversed this decision and will now retain the functions that were to be performed by it into a technical directorate within the holdings. This decision is aimed at rationalising costs related to the named activities,” the report reads.