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Corporate Announcements, Press Releases, ZCCM-IH, ZCCM-IH News

Market Announcement Change in Executive Leadership

In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules (“LuSE
Rules”), ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) wishes to inform its
shareholders and the market that the Company has, by mutual agreement, separated with
its Chief Executive Officer, Dr. Ndoba J. Vibetti, effective 30 April 2025.

The Board of Directors extends its gratitude to Dr. Vibetti for his service and contributions
since his appointment on 1 February 2023. The Board wishes him every success in his future
endeavours.

Furthermore, the Board is pleased to announce the appointment of Mr. Tisa Chama,
currently serving as Chief Technical Officer, as Acting Chief Executive Officer with
immediate effect. Mr. Chama will serve in this capacity until further notice.

Brief Profile of Mr Tisa Chama
Eng. Chama is a seasoned Mining Engineer with over 25 years of experience across
technical, operational, and managerial roles in the mining sector. He has worked extensively
in Zambia, Namibia, East Africa, and West Africa, holding key positions at prominent mining
companies including ZCCM, KCM, Rio Tinto, AngloGold Ashanti (AGA), and Barrick, notably
serving as Planning Manager.

Before joining ZCCM-IH in November 2020, he was the Senior Principal Mining Engineer for
AGA’s Africa Region, based in Johannesburg, South Africa. His consultancy experience
spans project development from concept to feasibility stages for both Greenfield and
Brownfield sites, across a range of commodities including copper, cobalt, uranium, and
gold. He has demonstrated strong leadership skills in project management and technical
roles in various developing countries in Africa.

Eng. Chama holds a Bachelor of Mineral Sciences in Mining Engineering from the University
of Zambia and an MBA from the University of the Free State, South Africa. He is a Registered
Engineer with the Engineering Institution of Zambia (EIZ) and a member of the Southern
African Institute of Mining and Metallurgy (SAIMM).

The Board congratulates Mr. Chama on his appointment and extends its full support as he
assumes this role.

By Order of the Board
Charles Mjumphi
Company Secretary
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ZCCM-IH WITHDRAWAL OF EGM NOTICE- SENS

Further to the Notice and Agenda of the Extraordinary General Meeting (“EGM Notice”) published on the Stock Exchange Network News (“SENS”) on 20th February 2025 and in the press, the Board of ZCCM Investment Holdings Plc (“ZCCM-IH” or “the Company”) wishes to advise the shareholders and the general public that the Company will be unable to hold the EGM on 13th March 2025 as indicated in the EGM Notice due to the following reasons:

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All Posts, ZCCM-IH, ZCCM-IH News

ZCCM-IH Participates In The 2nd Tranche Of The Flagship CEC Renewables

06th December 2024, Lusaka Zambia: ZCCM Investments Holdings PLC (ZCCM-IH) is pleased to announce its participation in the second tranche of the CEC Renewable Limited Green Bond with a USD10 million (approximately ZMW275 million) subscription.

The second tranche of the bond is aimed at raising USD96.7 million that will go towards funding the 136MW Itimpi-2 project, an expansion of 60MW Itimpi-1 solar PV plant.

ZCCM-IH Chief Executive Officer, Dr Ndoba Vibetti, highlighted the strategic importance of this subscription:
“Our mission is to create tangible wealth sustainably for the benefit of the Zambian people and all our stakeholders. This bond, which finances the development of solar projects, aligns with this mission and our strategic focus in growing our footprint in energy, particularly during the ongoing energy crisis, while also lowering ZCCM-IH’s overall carbon footprint.”

ZCCM-IH’s participation in the second tranche of the green bond aims at diversifying the composition of the company’s investment portfolio and enhancing its returns. This is aligned with the company’s 2023 2026 strategic plan that focuses on investments primarily in the mining and energy sectors.

This participation is further a testament of the company’s commitment to the development of local capital markets.

In December 2023, CEC Plc announced the Securities and Exchange Commission (SEC) registration of its USD200 million green bond under a 15-year Medium Term Note (MTN) Programme, a flagship transaction in Zambia aimed at financing CEC’s ambitions to invest in renewable energy projects with the capacity to generate at least 200MW of energy with a particular focus on solar energy.

In its first tranche, CEC raised USD54 million, and the proceeds were used to fund the development of Itimpi -1, a 60MW project on the Copperbelt Province commissioned in April 2024.

The green bond is privately placed and listed on the Lusaka Securities Exchange (LuSE) that complies with the ICMA Green Bond Principles, including participation from other local investors.
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

Kasenseli Gold Mine Re-Opened

His Excellency, President Hakainde Hichilema, officially re-opened Kasenseli gold mine in Mwinilunga, Northwestern province, this afternoon. The reopening of the mine, which had been closed since 2021, is a testament to the Government’s commitment to unlock the nation’s mineral wealth for the benefit of all Zambians. 

During his address, President Hichilema, emphasized the importance of responsible mining practices, job creation, and community development, ensuring that the mine’s operations contribute meaningfully to both local and national economic growth. 

ZCCM-IH Board Chairperson, Mr. Kakenenwa Muyangwa, also spoke at the event and expressed gratitude to His Royal Highness Chief Chibwika and all key stakeholders involved in the Kasenseli Mine for their continuous support in ensuring the successful launch of the mine. Mr. Muyangwa called on all key players to prioritize Kasenseli Mine as a critical project, emphasizing its potential to economically benefit the people of Mwinilunga and the nation at large.

The Mine is being operated by Kamushinshi Mineral Resources Ltd a new joint venture between Zambia Gold Company Ltd and Chibwika Development Trust, this initiative also aligns with Zambia’s vision to maximize the potential of its mining sector while safeguarding the environment and uplifting mining communities.
Corporate Announcements, ZCCM-IH

Invitation to ZCCM-IH Shareholder Open Day – Friday, 4th October 2024

ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”) wishes to announce that it will be hosting
a Shareholder Open Day on Friday, 4th October 2024, at Southern Hotel, from 10:00 hours to 12:00 hours
(CAT). The event will be streamed live via ZOOM. This annual event is an opportunity for us to engage
with you, our valued shareholders, and provide updates on the company’s performance, strategic
direction, and future outlook.
The event will feature presentations by the Chief Executive Officer who will cover a detailed presentation
on our strategic roadmap, the Chief Investments Officer who will speak about upcoming projects,
including growth initiatives and investment opportunities and the Chief Financial Officer who will present
a comprehensive overview of our financial performance, including detailed analyses of our half year
results.

Read More >> Here
Press Releases, ZCCM-IH, ZCCM-IH News

ZCCM-IH Shareholders in ZMW243 Million Dividend Payout as the Company Records a ZMW4.8 billion in Company Profit

03rd July 2024, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) shareholders approved a dividend of K243 million for the 2023 financial year during the Company’s 20th Annual General Meeting (AGM) held on Friday, 28th June 2024. Of this amount, ZMW187 million Kwacha will go to the Government of the Republic of Zambia through the Industrial Development Corporation (ZMW146 million) and the Ministry of Finance and National Planning (ZMW42 million).


The approval of the dividend follows a Company profit of ZMW4.84 billion recorded for the 2023 financial year end, a 14% increase from ZMW4.26 billion profit recorded in 2022.This improved performance at Company level was largely due to the royalty income of ZMW1.2 billion received from Kansanshi Mining Plc, and improvement in performance of investee companies in 2023, among others.


At the Group level, there was a 24% increase in losses, amounting to ZMW4.7 billion for 2023, primarily due to the underperformance of Mopani Copper Mines Plc. Despite this, the Group’s total assets rose by 20%, from ZMW48.92 billion to ZMW58.46 billion, driven by the increased value of investments in associates and other current assets.


The dividends declared for the 2023 financial year mark the ninth consecutive dividend declaration by ZCCM-IH, bringing the total dividends paid to shareholders since 2015 to over ZMW1.6 billion.
Corporate Announcements

ZCCM-IH- Transaction Completion Announcement-Mopani Copper Mines

Shareholders are referred to the announcements ZCCM-IH released on the Stock Exchange News Service (“SENS”) of the Lusaka Securities Exchange (“LUSE”) on 10th November 2023, 30 November 2023, 22 December 2023, 1 February 2024 and 23 February 2024 regarding the up to US$1.1 billion capital investment by International Resources Holding RSC Ltd (“IRH”), through its wholly-owned subsidiary, Delta Mining Limited (“Delta”), for a 51% interest in Mopani Copper Mines plc (“MCM”) and the formation of a strategic partnership with ZCCM-IH. The investment will comprise US$620 million in new equity capital, up to US$100 million in settlement of existing third-party letters of credit and up to US$380 million of shareholder loans (the “Transaction”). The Company distributed a Transaction circular (the “Circular”) on 2 February 2024 incorporating a notice of Extraordinary General Meeting (“EGM”) to consider the Transaction. The Board of Directors of ZCCM-IH (the “Board”) is pleased to provide a further update in relation to the Transaction

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Corporate Announcements, ZCCM-IH, ZCCM-IH News

ZCCM-IH Shareholders Unanimously Approve the Mopani Copper Mines Transaction

ZCCM INVESTMENTS HOLDINGS PLC

Investing SMARTLY

PRESS STATEMENT FOR IMMEDIATE RELEASE

ZCCM-IH Shareholders Unanimously Approve the Mopani Copper Mines Transaction

 

26th February 2024,

Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) shareholders have unanimously approved the Mopani Copper Mines Plc (Mopani) transaction where Delta Mining Limited (Delta), a subsidiary of International Resource Holdings (IRH), has agreed to acquire a 51% shareholding in Mopani for a total investment of up to US$1.1 billion.
The approval was given at the Shareholder’s Extraordinary General Meeting (EGM) held in

Lusaka on 23rd February 2024.

ZCCM-IH will retain 49% shares in Mopani, with 3 out of 9 board seats (5 by Delta and 1 by GRZ), and thus continue to participate in the governance of Mopani and have full visibility of its operations.

Speaking after the EGM, ZCCM-IH Board Chairperson stated that “the transaction is a landmark achievement that delivers significant value to ZCCM-IH, Mopani, and the Zambian people, as it unlocks the long-term sustainability of Mopani operations, which contributes to the revitalisation of the Copperbelt”.

“It’s pleasing to note that IRH has committed to retain Zambian workers, including the management team, who will be complimented by new skills and expertise from Delta to facilitate the expansion of MCM production to 200, 000 tonnes per annum”, remarked Mr Muyangwa.

IRH have already proved their commitment by providing interim funding of $130m, before they take over, that has allowed continued payment to suppliers and contractors.

Further, ZCCM-IH Board Director Mr Phillippe Taussac who represents minority shareholders said that “the extinguishing of the Mopani $1.5billion debt that ZCCM-IH had guaranteed, will certainly lead to significant improved financial performance for all ZCCM-IH’s shareholders”. Mr Taussac expressed happiness that ZCCM-IH now has a strong long-term strategic equity partner in Mopani, whilst remaining a significant shareholder in the company”.

This transaction represents a major step for Zambia’s copper mining industry towards the

achievement of the country’s 3 million metric tonnes of copper production per annum by 2030.

Following the announcement of the transaction, the markets have responded positively with increased activity and share price appreciation. On the Lusaka Securities Exchange ZCCM-IH shares soared by 11.9% from K42 to K47 per share.

End

Issued by:
ORIGINAL SIGNED
Loisa Mbatha
Corporate Affairs Manager ZCCM Investments Holdings Plc loisa.mbatha@zccmnew.wpenginepowered.com

 

NOTE TO THE EDITOR:

SUMMARY OF SOME KEY TERMS OF THE TRANSACTION

  1. Key Financial Terms:

    • Equity Component: US$620m

      • US$220m is payable at closing;
      • US$130m already advanced via interim financing shall be converted into equity
      • US$19m will be used to repay a portion of ZCCM-IH’s shareholderloan
      • The remaining US$71m will be used as working capital
      • US$400m will be allocated towards funding MCM’s project development plan and is payable as and when the funding is required

    • Loan Component: US$400m

      On closing, Delta will provide MCM with a loan of US$400m which will be used to settle all existing Glencore debt (2021 transaction debt and LCs)

      • The net result is a reduction in MCM’s debt burden by US$1.4bn
      • ZCCM-IH’s guarantee over Glencore’s debt will be releasedFurther loans of up to US$88m may be made available to MCM as shareholder loans, if required, based on the future working capital requirements

         

         

  2. Significantly improved financial performance for ZCCM-IH’s shareholders

    Line item

    Before

    Pro Forma Adjustments

    After

    %change

    Earnings Per Share (EPS) (ZMW)

    (23.54)

    92.37

    68.83

    392.4%

    Headline Earnings Per Share (HEPS) (ZMW)

    (23.54)

    55.27

    31.72

    234.8%

    Net Asset Value (NAV) per share (ZMW)

    49.18

    94.23

    143.42

    191.6%

     

  3. Renewal of GRZ’s golden share and one board seat.
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.