50 families to pave way for 600m Masaiti Cement Plant

ABOUT 50 Households are expected to be displaced to pave way for the construction of a US$600 million dollar Cement factory in Masaiti District on the Copperbelt Province.
ZCCM Investment Holding (IH) Cement Stirring Committee Chairperson.

Mwila Lumbwe said ZCCM-IH is partnering with Central African Cement Limited which is spearheading the development of the project in Masaiti.

In July last year, President Edgar Lungu graced the ground breaking ceremony of the $600 million cement project.

Mr Lumbwe said the project that would take 36 months to complete, would create a thousand jobs in various fields during construction phase and after completion, 400 permanent jobs would be created.

“It is our hope that the people in Chief Chiwala’s area will benefit from the new opportunities that will be created by Central African Cement,” he said.

Mr Lumbwe said the 47 households that would be displaced were in the factory area adding that others that farmed in the same area, would also be compensated, and the value minimum for construction for each house hold would be K108, 000.

He also said the project was said to revive Ndola Lime with the intention of having Ndola Lime supply Lime stone which was the basic product which would help in Cement production.

Mr Lumbwe said it would significantly enhance the capacity of Ndola Lime Company.

He said the Cement factory was one of a few real value added industries in the country because a lot of other products were imported.

Mr Lumbwe said it would enhance value chain in terms of procurement because lime stone would be procured from Ndola Lime while gemstone procured from a gemstone supplier in Mpika which would locally enhance business climate on the Copperbelt.

He said essentially the plant would generate 57 mega watts of power which would be significant for the Zambian economy.

Mr Lumbwe said the plant would use 20 mega watts leaving a surplus of 38 mega watts which would be released into the grid and possibly exported, adding that the plant would bring opportunities for the Zambian economy at large.

Copperbelt Permanent Secretary Bright Nundwe said the factory would sit 75 hectares adding that no one would be affected in terms of displacement and decent houses would be built for them before relocation.

“This is a very good project, but the moment someone starts mourning it will be bad so there must be proper issues of significant planning.

Before a machine lands on any piece of land, ensure that the people displaced have where to go. Make sure the people are excited and not mistreated,” he said.

Mr Nundwe further added that the project should be well sustained and in order because Copperbelt was the heartbeat of Zambia.


Source: Times of Zambia

CNMC Luanshya Copper Mine to pump US$13 million to reopen Baluba Mine

China Nonferrous Mining Corporation Luanshya Copper Mine says US$ 13 million will be pumped into the reopening of Baluba mine.

CNMC Luanshya Copper Mine Deputy Chief Executive Officer, Wang Jingjun said the firm was looking forward to reopen Baluba mine this year after the increase in copper prices on the international market.

Mr. Wang has stated that the reopening of Baluba mine will be enhanced by concerted efforts with the government and the community of Luanshya town.

He has appealed to members of the public to take time to understand and appreciate the challenges the mining company was facing such us increment in the price of sulphuric acid, electricity tariffs by Copperbelt Energy Corporation and paying back of the loan especially now that the operations of Baluba mine were about to resume.

And Luanshya Mayor Nathan Chanda is happy with china nonferrous Mining Corporation, Luanshya copper mine’s plans to reopen Baluba mine in 2018.

Speaking during a meeting with CNMC Luanshya Copper Mine Deputy Chief Executive Officer, Wang Jingjun held at the Mine’s Head Office in Luanshya on Thursday, Mr. Chanda has called on CNMC Luanshya copper mines to support local suppliers and contractors once Baluba opens.

Mr Chanda also urged the mine to employ as many local people as possible in the Baluba mine workforce and first consider all those who are on forced leave and those who may had left on voluntary separation scheme.


Source: Lusaka Times

Audit of investments welcomed

The Mine Suppliers and Contractors Association of Zambia says it supports intentions by Government to launch an investment monitoring policy to audit levels of investment and production of mineral resources.

Association President Augustine Mubanga says the move is progressive and will help boost the mining sectors contribution to the national treasury.

Mr. Mubanga told ZNBC News in Kitwe that the country will only derive maximum benefits from its mineral wealth if adequate measures are put in place to monitor the activities of investors.

He said local suppliers and contractors have been side-lined by some mine conglomerates in the awarding of contracts in preference to foreign entities.

During a media briefing, Copperbelt Province Minister Bowman Lusambo indicated that most mining companies have NOT been making significant investments in their areas of operations.

This follows reports that some named mining firms are abandoning their capital projects to illegally mine from the dump sites left by the defunct Zambia Consolidated Copper Mines-ZCCM.


Source: ZNBC

Mining investment audit coming

Government will launch an investment monitoring policy to audit the levels of investments recorded in the mining sector on the Cooperbelt.

This follows reports of some named mines abandoning their projects to illegally mine from the dump sites left by Zambia consolidated Copper Mines -ZCCM.

Copperbelt Minister Bowman Lusambo says Government has observed that most mining companies have not made significant investments in their areas of operations.

Mr Lusambo says this is why some mining companies are clearing waste famously known as black mountain left by the defunct ZCCM instead of producing from their areas of investment.

He said the audit to be carried out jointly by the Ministry of Mines and Commerce will establish the levels of foreign direct investment into the sector on the Copperbelt.

Mr. Lusambo said this at a media briefing in Ndola.

Meanwhile, Mr Lusambo has urged mining companies to compel all foreign contractors to partner with Zambians in local business transactions.

Mr Lusambo said it is not right for mining companies to offer businesses to foreign contractors at the expense of local suppliers and contractors.


Source: ZNBC

Gold mining to create jobs

Ministry of Commerce Permanent Secretary Kayula Siame says the formalization of illegal gold mining in Rufunsa will bring about economic development and job creation amongst youths in the country.

Ms. Siame says Zambians have been left out in the mining of various minerals in the country and that time has come for the locals to benefit from their God given natural resources.

She was speaking when she presented cooperative certificates to three newly formed mining cooperatives in Rufunsa.

Ms. Siame said illegal mining has also robbed the country a lot of money in taxes.

She said government wants Zambians to benefit from their resources unlike the current situation where foreigners are getting everything.

And ministry of mines permanent secretary Paul Chanda said Zambians should take advantage of government’s new mining policies to register their firms for them to participate in the mining industry.

Mr. Chanda said government will empower the newly formed cooperatives with equipment and capital for them to be producing reflectively.

He said government though the ZCCM-IH will also provide market for the minerals so that miners would not labour to look for market.

And earlier registrar of cooperatives Justin Mwansa said the formation of cooperatives by small mining entities will improve capacity building and enhance productivity.

Mr. Mwansa called for more miners to come up with cooperatives so that dividends can remain in the country.


Source: ZNBC

Rufunsa Mine can create jobs

Ministry of Commerce Permanent Secretary Kayula Siame says the formalization of illegal gold mining in Rufunsa will bring about economic development and job creation amongst the youths.

Speaking when she presented cooperative certificates to three newly formed mining cooperatives in Rufunsa, Ms Siame said Zambians have been left out in the mining of various minerals in the country and that time has come for the locals to benefit from their God given natural resources.

Ms. Siame said illegal mining has also robbed the country a lot of money in taxes.

She says government wants Zambians to benefit from their resources unlike the current situation where foreigners are getting everything.

And ministry of mines permanent secretary Paul Chanda said Zambians should take advantage of government’s new mining policies to register their firms for them to participate in the mining industry.

Mr. Chanda said government will empower the newly formed cooperatives with equipment and capital for them to be producing effectively.

He said government though the ZCCM-IH will also provide market for the minerals so that miners would not labour to look for market.

Earlier registrar of cooperatives Justin Mwansa said the formation of cooperatives by small mining entities will improve capacity and enhance productivity.

Mr. Mwansa called for more miners to come up with cooperatives so that dividends can remain in the country.


Source: ZNBC

ZCCM-IH | Directors’ Interim Summary for Period Ended 30th September 2017

Introduction

In compliance with the requirements of the “Securities Act, Cap 354 of the Laws of Zambia” and the Listing Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings Plc (ZCCM-IH) announces the unaudited results for the six months’ period ended 30th September 2017.

Financial Performance

The Group recorded a turnover of K37.7 million for the six-month period ended 30th September 2017 which was 42% below the turnover of K65.5 million reported during the six months to 30th September 2016. The lower Group turnover was mainly as a result of a decrease in turnover for Ndola Lime Company Limited by 41% from K62.5 million to K36.7 million for the period under review. The Group recorded an operating loss of K123 million (Sept 2016: loss K65.1 million) No Dividends were earned for the period ended 30th September 2017 (September 2016: Nil)…

Operations and Strategic developments

(I) Proposed Joint Venture for setting up of a Cement Manufacturing Company
As part of ZCCM-IH’s strategy to diversify its portfolio, the Company is progressing towards finalizing a Joint Venture partnership which will culminate into setting up of a Cement Manufacturing Company.

ZCCM-IH intends to hold 35% of the shares while its Chinese Partner will have 65%. The planned production capacity of the Plant will be 5000 tonnes per day of Clinker with a 50 MW Thermal Power Plant. Furthermore, the proposed plant will be installed with a waste heat recovery system which will add another 7.5 MW of power. It is expected that the Plant will take 3 years to construct and employ over 1000 people during construction. Once completed, the plant is expected to employ about 400 people.

Commencement of construction is conditional upon financial closure.

(II) Disposal of ARM & Vale’s indirect interest in Lubambe Copper Mine Ltd (Lubambe)
African Rainbow Minerals (ARM) and Vale International SA (Vale) concluded an agreement to dispose ARM and Vale’s combined 80% beneficial interest in Lubambe to EMR Capital
Limited (EMR). The 80% beneficial interest in Lubambe, which is held in equal shares by ARM and Vale included the equity holding in Lubambe as well as loans to Lubambe. Lubambe is owned 40% by ARM and 40% by VALE, both as beneficial owners and 20% by ZCCM-IH…

By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 10 January 2018

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 10 January 2018


Download the original SENS Announcement

ZCCM-IH Interims to 30 September 2017.pdf

KCM pays ZCCM-IH $70 million

KALONDE NYATI, Lusaka
KONKOLA Copper Mines (KCM) has paid out about US$70 million to ZCCM-Investment Holdings (IH) in claims as at December last year.

ZCCM-IH chief executive officer Pius Kasolo said in an interview on Monday that KCM has been making monthly payments to the company.

In 2016, the English High Court granted default judgment in favour of ZCCM-IH in its claim against KCM, brought pursuant to a settlement agreement entered by the parties in 2013, for a sum of US$103 million.

The claim relates to outstanding payments under a 2013 copper price participation settlement agreement between ZCCM-IH and KCM.


Source: Zambia Daily Mail Limited

ZCCM-IH | Trading Statement

In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of ZCCM-IH hereby advises the Shareholders of the Company that the
Earnings Per Share (EPS) for the six months period ended 30 September 2017 are approximately 165% higher than for the six months period ended 30 September 2016.

The movement in earnings is mostly due to the continued improvement in performance for most major mining companies in ZCCM-IH’s portfolio. This improved performance is
attributable to stability in energy supply and the increase in copper prices on the international market (London Metal Exchange) by 33% over the 12 months from 30 September 2016 to 30 September 2017.

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 six months period ended 30 September 2017 to be released via the LuSE SENS and published in the local press on or about 11 January
2018. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.

By Order of the Board

C Chabala
Company Secretary

Issued in Lusaka, Zambia on 9 January 2018

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 9 January 2018


Download the original SENS Announcement

Global Cobalt Market 2017 Key Players – Chambishi Metals plc, Formation Metals Inc, BHP Billiton plc, Vale S.A, Shandong Jinling Mining

Cobalt analysis is offered for global market including growth factors by region, aggressive analysis of the Cobalt. Cobalt Industry report concentrates on important drivers and restrictions for the main players. This report examines the Cobalt. This Cobalt report elucidates manufacturing procedure inspected thoroughly with respect four points Manufacturers, regional analysis, Segment by Type and Segment by Applications.

The report concentrates on Cobalt in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. The report classifies the market is dependent on manufacturers, regions, type and application. The highlights of Cobalt inculcates market by type and application, with sales market share and growth rate by type, application.

Cobalt market forecast is based on regions, type and application, with sales and revenue, from 2017 to 2022. Recount Cobalt industry introduction, product scope, market overview, market opportunities, market risk, and market driving force. Examine the apex manufacturers of Cobalt industry with sales, revenue, and price.

Request For Sample Report @ https://www.fiormarkets.com/report-detail/145777/request-sample

Showcase the aggressive condition amid the topmost manufacturers, with sales, revenue and market share of Cobalt market. To display the global market by regions, with sales, revenue and market share of Cobalt industry, for each region. Analyze the key regions, with sales, revenue and market share by key countries in these regions. Describe Document Readers Industry sales channel, distributors, traders, dealers, appendix and data source.

In addition, considering that the global economy is altering depending upon several factors, it is vital to take a note that our report entails data that are not only carried out regarding CAGR forecasts but it also analyzes the key parameters such as yearly market growth in order to have complete information about the future of the market worldwide. It also helps in identifying the wide opportunities that will open up for the market. The other key feature included in this report is the analysis of the revenue forecasts of all the important regions and applications, which is in terms of dollars.


Source: SATPRNEWS