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Corporate Announcements, ZCCM-IH

DIREC TORS’ INTERIM UNAUDITED FINANCIAL RESULTS FOR ZCCM INVESTMENTS HOLDINGS PLC AND ITS SUBSIDIARIES (‘‘THE GROUP’’ ) FOR THE SIX MONTHS PERIOD ENDED 30TH JUNE 2024

INTRODUCTION
In compliance with the requirements of the “Securities Act, No. 41 of 2016 of the Laws of Zambia” and the Listing Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings PLC (“ZCCM-IH”, “ZCCM”, “the Company”, “We” or “Our”) announces the interim unaudited financial results of the Company and its Subsidiaries (colectively referred to as “the Group”) for the six months’ period ended 30th June 2024.

CHIEF EXECUTIVE OFFICER’S COMMENTARY
I am pleased to share ZCCM-IH’s financial results for the first half of 2024, which highlight several key strategic developments. A major highlight is our new partnership with Delta Mining Limited, focusing on Mopani Copper Mines Plc. Additionally, Konkola Copper Mines Plc (KCM) has successfully completed all necessary formalities, leading to Vedanta’s release of USD250 million. This marks the final step in the implementation agreement, resulting in KCM’s removal from the liquidation process. Following this, a new Board has been appointed, and Vedanta has officially taken over the operations of KCM.

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Corporate Announcements, ZCCM-IH

Trading Statement – Financial Results (Half Year Ended 30 June 2024)

In accordance with Section 3.4(b) of the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of ZCCM Investments Holdings (“ZCCM-IH” or “the Company”) and its subsidiaries (collectively, “the Group”) wishes to inform shareholders that the Earnings per Share (EPS) for the half year ended 30 June 2024 is expected to exceed that of the half year ended 30 June 2023 by 2396%.
Based on the financial results the Group’s Earnings Per Share (EPS) stood at ZMW344.05, compared to negative ZMW 14.98 Earnings Per Share in the same period of 2023. This improvement is largely driven by a one-time gain of ZMW 42.3 billion (US$1.66 billion) following the successful Strategic Equity Partnership (SEP) with International Resources Holding RSC Ltd (“IRH”). Through its subsidiary, Delta Mining Limited, IRH invested USD1.1 billion for a 51% ownership in Mopani Copper Mines Plc. Furthermore, the settlement of USD 1.7 billion in Glencore/Carlisa loans under the Amendment, Restatement, and Consolidation Agreement (ARCA) boosted the valuation of the Mopani asset, contributing to the Group’s EPS growth.

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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 Acquires Additional 10% Shareholding in Lubambe Copper Mines Ltd

28th August 2024, Lusaka Zambia: ZCCM Investments Holdings PLC (ZCCM-IH) is pleased to announce that it has reached an agreement with Jinchengxin Mining Management Company Ltd (JCHX) to acquire an additional 10% shareholding at US$1 in Lubambe Copper Mines Ltd (Lubambe). This transaction will increase ZCCM-IH’s ownership in Lubambe from 20% to 30%, and upon completion, JCHX’s stake will adjust from 80% to 70%. This transaction is expected to be finalized within the next six months.


In addition to the increased shareholding of 10%, ZCCM-IH will have marketing rights to copper ore concentrate output in proportion to its shareholding. This innovative arrangement is the first of its kind within ZCCM-IH portfolio and will ensure greater value extraction from the asset. The current Shareholder’s Agreement shall be revised accordingly to include other value extraction strategies for ZCCM-IH. This move aligns with ZCCM-IH’s ongoing strategic efforts to increase its stake in key mining and energy assets within Zambia. The increased equity will strengthen ZCCM-IH’s role in the governance, management and development of Lubambe Copper Mines, ensuring greater alignment with the interests of ZCCM-IH’s shareholders and Zambia’s national interests.


JCHX intends to invest approximately US$300 million into Lubambe for operations and extension of the life of mine. The mine is currently implementing initiatives to boost productivity and operational efficiency, and this partnership between ZCCM-IH and JCHX will further support these goals.

ZCCM-IH Acquires Additional 10% Shareholding in Lubambe.cleanedDownload
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.

 
Corporate Social Investment, ZCCM-IH

ZCCM-IH donates K1 million towards the fight against cholera

ZCCM Investments Holdings (ZCCM-IH) has donated K1 million to the Ministry of Health towards the provision of essential food supplies at cholera treatment centres.  

ZCCM-IH CEO, Dr Ndoba Vibetti, handed over the cheque to the Ministry of Health, which was received by the Minister of Health Hon. Sylvia Masebo this afternoon.  

In his speech during the handover, Dr Vibetti said the amount is targeted at meeting the nutritional needs of both patients and health workers at cholera treatment centres.  He added that, “Proper nutrition is integral to the effectiveness of medical treatments. By ensuring that cholera patients receive nutritious meals, we can contribute to improved treatment outcomes, faster recovery times, and a reduced burden on the healthcare system.”

Receiving the cheque on behalf of the Ministry, Hon. Sylvia Masebo expressed gratitude and gave assurance that the donation will go towards its intended purpose. “Our patients and staff at the treatment centres receive a good diet because of support such as this. Good nutrition is important to us. This will go a long way in combating the scourge,” said Hon. Masebo.  

ZCCM-IH commended the Ministry and all the frontline workers for their tireless efforts in overcoming this public health challenge. Watch the donation handover ceremony here
Archived Tenders, ZCCM-IH

NOTICE_OF_BEST_EVALUATED_BIDDER – PROVISION OF SECURITY SERVICES AT ZCCM-IH FACILITIES

Notice of the Best Evaluated Bidder

 

The Procurement Committee has authorised to award the contract for the procurement requirement to the “best evaluated bidder” as detailed below. It is the intention of the Procuring Entity to place a contract with the named bidder after ten (10) working days from the date of display given below.

Procurement Reference Number: ZCCM-IH/036/2023
Procurement Description: Provision of Security Services to ZCCM-IH Facilities
Lot Awarded Lot No. I – Provision of Security services at ZCCM-IH Office Park, 30B Kudu Road in Kabulonga, and Village Villas in Roma Park, Lusaka.
Method of Procurement: Open National Bidding (ONB)
Name of Best Evaluated Bidder: Arm-Safety Security Company Limited
Address of the Best Evaluated Bidder: P.O Box 33827

Plot No. 11463/2 Mwalule Road, Northmead, Lusaka, Zambia.

Proposed Contract Price: ZMW 572,976.00 VAT Incl.
Lot Awarded Lot No. 2 – Provision of Security Services at Investments House, Kitwe; Technical Library and Mawe Complex in Kalulushi.
Method of Procurement: Open National Bidding (ONB)
Name of Best Evaluated Bidder: Rondy Logistics and security Services Limited
Address of the Best Evaluated Bidder:

 

 

 

 Plot No. 1794, Off Freedom Avenue, Mwandi Crescent, Riverside,

Plot 17, Obote Avenue, 1st Floor Room 24,

Kitwe Chambers Building P.O Box 21879 Kitwe, Zambia
Proposed Contract Price: ZMW1,090,800.00 VAT Incl.
Lot Awarded Lot No. 3 – Provision of Security Services at Kabwe Offices & Laboratory in Kabwe.
Name of Best Evaluated Bidder: Rondy Logistics and security Services Limited
Address of the Best Evaluated Bidder: Plot No. 1794, Off Freedom Avenue, Mwandi Crescent, Riverside,

Plot 17, Obote Avenue, 1st Floor Room 24,

Kitwe Chambers Building P.O Box 21879 Kitwe, Zambia
Proposed Contract Price: ZMW153,600.00VAT Incl.
Date Notification Issued Monday, 20th November 2023
Date for End of Notification Period: Friday, 1st December 2023

 

Kindly note that this Notice does not constitute an award of contract to the bidder mentioned above. Bid acceptance and contract placement shall be in accordance with Part X of the Public Procurement Regulations.

Bidders have the right to appeal against the proposed award in accordance with Section 70 of the Public Procurement Act and Section 170 to 172 of the Regulations, provided the appeal is made within ten (10) days of the date of this notice.