Government launches the floating of 17% ZCCM-IH shares to the public

[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_dropcap color=”” boxed=”yes” boxed_radius=”50%” class=”” id=””]G[/fusion_dropcap]overnment has officially launched the sale of 17 percent of its shares in Zambia Consolidated Copper Mines Investment Holding -ZCCM IH- to the public.
Finance Minister Alexander Chikwanda says the move is a significant step in the evolution of the PF government’s development agenda which is anchored on creating higher levels of wealth for citizens.

Mr. Chikwanda says the off loading of government shares in ZCCM IH is in conformity with the Security and Exchange Commission’s requirement for companies listed on the Lusaka Stock Exchange -LuSE- to publicly float 25 percent of the shares.

Speaking during the launch in Lusaka last evening, Mr. Chikwanda further reveals that the sell of government shares will also raise resources for the treasury as was provided for in the 2015 budget.

And ZCCM IH Chief Executive Officer Pius Kasolo says the company has continued growing its portfolio beyond mining and is now venturing into energy, agriculture and real estate.

Dr. Kasolo says ZCCM’s vision is to effectively manage and grow investments as part of ensuring that shareholders get a return for the money.

He has also appealed to Zambians to buy shares in ZCCM-IH because despite metal prices being low currently the prospects are high as Zambia continues discovering new mineral rich areas.

And speaking during a panel discussion Lusaka Stock Exchange Chief Executive Officer Brian Tembo noted that the offloading of more shares in ZCCM-IH to the public will further improve the liquidity ratio on the stock market.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Govt sale of its ZCCM-IH shares pushes LuSE turnover to K581m

[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_dropcap color=”” boxed=”yes” boxed_radius=”50%” class=”” id=””]T[/fusion_dropcap]HE Lusaka Stock Exchange has posted a huge trade turnover of K581 million due to the massive revenue contributed from the sale of government’s shares in ZCCM-IH.

According to the LuSE monthly news bulletin for June 2015, total trade turnover on the local bourse was K581 million, up from K41.7 million recorded in May, representing a 1,327 percentage increase.

This is the highest trade turnover recorded this year so far, which translated to a daily average turnover for June at K26.4 million, up from K2.1 million for May, signifying a 1,132 per cent rise.

Last October, finance minister Alexander Chikwanda announced that the government would reduce its shareholding in ZCCM-IH from 87 per cent to 60 per cent via the sale of its shares proportionate to the required reduction.

Tranche 1 of the government’s sell-down of 15,850,631 shares out of its total 43,811,868 ‘B’ shares (representing 27.5 per cent) in ZCCM-IH transacted in one trade on the 9th of June, 2015, resulting in a turnover of K570,622,716,

the LuSE’s monthly bulletin for June stated.

“This left a balance of 27,961,237 shares which will be offered to Zambian citizens and other eligible Zambian institutions in the 2nd tranche of the government sell-down.”

And LuSE’s operations assistant Kennedy Kaela stated that ZCCM-IH’s huge transaction could be regarded as “unusual” mainly because the company does not trade that often.

The transaction could only be described as unusual because ZCCM [/fusion_builder_column][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][IH] has not been trading that often. Had it not been for ZCCM, June would have been a poor trading month for the exchange,

stated Kaela in response to a press query.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

ZCCM-IH | Trading Statement – Jul 2015

In accordance with the Lusaka Stock Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors advises the Shareholders of ZCCM Investments Holdings PLC (“the Company”) that for the interim period ended 31 March 2015, the basic earnings per share is expected to be 199% higher, and the headline earnings per share is expected to be 199% higher, than those for the interim period ended 31 March 2014.

Although copper prices continued to decline from an average of US$ 6,740 per tonne in October 2014 to US$6,082 per tonne as at end of March 2015, the company increased its profitably largely due to exchange gain as well as profits in associate companies.

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 its results for the interim period ended 31 March 2015 to be released via the LuSE SENS and published in the local press on or about 2 July 2015. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.

Lusaka, Zambia ‑ 1 July 2015


LUSAKA STOCK EXCHANGE SPONSORING BROKER

STOCKBROKERS ZAMBIA LIMITED
[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][MEMBER OF THE LuSE and REGULATED BY THE SECURITIES AND EXCHANGE COMMISSION OF ZAMBIA]

T: +260‑211‑232456
W: www.sbz.com.zm[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Zesco aims to cut power by 30% to the mines

[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_dropcap color=”” boxed=”yes” boxed_radius=”50%” class=”” id=””]L[/fusion_dropcap]USAKA – Zambia, Africa’s No.2 copper producer, plans to cut power supplies to mines by up to 30% as early as next week, after water levels at its hydro-electric projects dropped due to drought, industry sources told Reuters on Tuesday.

The plan, still under discussion with the industry, will see state-run power company Zesco limit the amount of power it supplies to its customers, including mining companies, due to a powerdeficit of 560 MW.

Zesco said during the meeting that by October this year Zambia would face a very serious power crisis if it spared the mines,

said one source, who did not want to be named. “Mining companies said cutting their power supply would mean closing down some units and laying off some workers.”

Jackson Sikamo, president of the Chamber of Mines of Zambia, said he did not attend last week’s meeting and had not been briefed about its deliberations. Another source said the meeting, which included officials from Zambia’s energy regulator, asked mining companies to devise their own power reduction plan.

Mining companies were asked to come up with what they think is practical and they will present the proposal this week,

the second source said. Individual mining companies were not immediately available for comment. Foreign mining companies in Zambia include Glencore, Barrick Gold Corp, Vedanta Resources and First Quantum Minerals.

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World Bank to fund Kabwe lead pollution project

[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_dropcap color=”” boxed=”yes” boxed_radius=”50%” class=”” id=””]C[/fusion_dropcap]CHAMBO NG’UNI, Kabwe
THE World Bank will fund another lead remediation project in Kabwe aimed at mitigating the impact of lead poisoning on human health and the environment.

World Bank and Nordic Development Bank started supporting Zambia Consolidated Copper Mines Investment Holdings to address problems of lead pollution after the closure of Kabwe Mine from 1994 up to 2010.

The five-year programme, which will gobble US$60 million, will also cover Chingola and Mufulira.

Central Province permanent secretary Edwidge Mutale, who confirmed this in an interview yesterday, said the project is expected to commence next year.

The World Bank is coming and they would want to come and see how they can help to mitigate the lead poisoning here in Kabwe,

Ms Mutale said.
She said the project will be implemented through Kabwe Municipal Council, in collaboration with the ministries of Health, Community Development, Mother and Child Health, Mines, Energy and Water Development and Local Government and Housing.

The Ministry of Lands, Natural Resources and Environmental Protection and the Disaster Management and Mitigation Unit are part of the project.
Ms Mutale said as long as there are deposits of lead underground, people are at risk of exposure to the toxic mineral which was mined in Kabwe from 1906 up to 1994.

Ms Mutale said discussions on the implementation of the project have reached an advanced stage, and she is hopeful that the Ministry of Health will acquire equipment that will be used to detect lead in blood.

She commended the World Bank for coming on board to support government efforts in addressing the lead contamination issue.

We would have loved this project to start last year because we are having children being born; children who are growing up in areas affected by lead poisoning and they are at risk,

Ms Mutale said.

She also said the commencement of mining in Kabwe by Enviro Processing Limited will largely depend on expert advice from the Zambia Environmental Management Agency[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Ndola Lime in $16.5m ZCCM-IH capital fund

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.