ZCCM-IH | Delay in Dividend Payments to Shareholders on the Paris Euronext Access Stock Exchange

STATEMENT TO ZCCM INVESTMENTS HOLDINGS PLC SHAREHOLDERS
Delay in Dividend Payments to Shareholders on the Paris Euronext Access Stock Exchange

Lusaka, Zambia – At the ZCCM Investments Holdings Plc (ZCCM-IH) Annual General Meeting held on 29 June 2018, the shareholders of the Company approved a Final Dividend of K0.84 per share for the financial year ended 31 March 2017. Subsequently, dividend payments were effected on Monday, 30 July 2018.

However, due to financial and other regulatory requirements governing transactions across different jurisdictions, ZCCM-IH could not make the payments directly to shareholders based in France, and such has had to appoint an Agent to facilitate dividend payments.

Thus, for Shareholders based in France, payments await the conclusion of the engagement processes for a Dividend Paying Agent which has taken longer than anticipated. It is hoped that the engagement process will be concluded soon.

All affected shareholders will be notified once the engagement process is finalised. The inconvenience caused is deeply regretted.

Yours Sincerely,

ZCCM INVESTMENTS HOLDINGS PLC

Dr Pius C Kasolo
Chief Executive Officer

ZCCM-IH | Cautionary Announcement

Shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) are advised that the Company is in discussions with the appointed Receiver for Kapairi Glass Manufacturing Limited (“KGM”) which discussions if successfully concluded, may have a material effect on the price of the Company’s securities. ZCCM-IH has expressed interest in the possibility of purchasing the assets belonging to KGM which has been in receivership since 26 July 2017. KGM was established with the aim of manufacturing container glass products.

ZCCM-IH will provide details of these discussions in due course.

In the meantime, Shareholders are advised to exercise caution when dealing in securities of the Company until a full announcement is made.

Issued in Lusaka, Zambia on Wednesday, 25th July 2018

Lusaka Securities Exchange Sponsoring Broker
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First Issued on Wednesday, 25th July 2018

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Copperbelt Energy Corporation records 10% increase in revenue EBITDA over the previous year due to strong performance. ZCCM-IH holds 20% stake in CEC

The Directors of Copperbelt Energy Corporation PLC (“CEC”) are pleased to announce the release of the annual report for the year ended 31 December 2017. Below is an extract from the Chairman’s Statement.

Chairman’s Statement

Our role, as a business, extends far beyond providing electricity that keeps the wheels of mining, and the Zambian economy, turning. We enable economic growth, contribute to job creation and skills development. We invest in the social transformation of individuals, people groups and the larger society through different forms of social investments; including but not limited to infrastructure development, training, education and local human capital development. We see that our traditional role as electricity provider of choice to the mining industry will continue even as certain aspects evolve in line with relevant changes in both the mining and energy industries, technological and other external factors. Our Managing Director, in his performance review, delves into the detail of the key market developments of 2017 on our radar…

Strategy and execution

The board oversees the process to set, review and plan strategy which is reconfirmed at the start of each year. In 2017, the strategy was reviewed for the five-year period 2017 to 2021. Management presented a seven-pillar strategy that seeks to modernise and efficiently manage the CEC network; consolidate our regional market position; realise multiple power sources; enhance stakeholder engagement; support the realisation of a robust tariff setting and migration path; provide management services and invest in viable generation and transmission projects aligned to our core business…

Governance

Our Company aims to embed sound corporate values into every day decisions, processes and operations in order to ultimately build a culture of transparent, accountable and sustainable business conduct. Working and acting with integrity at all times is integral to our continued business success…

Shareholder returns

The business exists to create value for our principal stakeholders and one way in which we return value to our shareholders on their investment is through a distribution of profits through dividend. Declaration of a dividend is a matter for our board. Our policy provides for payout of 50% of earnings subject to the availability of cash, reserves and having provided sufficiently for working capital and other obligations. A cash dividend of USD21 million was paid out to our ordinary shareholders, an increase of 28% over 2016 (USD16.4 million)…

Outlook

Our focus is the execution of our strategy to achieve sustainable performance and create sustained value for all stakeholders. This will be enabled by our adherence to sound governance principles and actions, effectively mitigating our risks, engaging with all our stakeholders successfully, and developing and retaining the relevant skills in our business…

Appreciation and conclusion

I am grateful to my fellow directors currently serving on our board for their invaluable contributions and their active participation in setting the Company’s strategy in the past year. I also thank those who stepped down during the year and welcome the new directors.

I am grateful for the hard work, dedication and commitment of our Managing Director and his management team. I congratulate them for delivering on the CEC strategy and for presiding over the improvements in financial, operational and social performance recorded in the reporting period. My heartfelt gratitude also goes to all the staff for their efforts, without which we may not be posting this performance. I thank our customers for showing their continued confidence in us through their business.

Hanson Sindowe
Chairman


Source: Copperbelt Energy Corporation

Vedanta Resources announces new Konkola Copper Mines CEO

Vedanta Resources today announced the appointment of Ms Deshnee Naidoo, as the Chief Executive Officer – Africa Base Metals. Ms Naidoo’s appointment signals the Vedanta group’s ongoing commitment to enhancing its African operations, and will seek to identify and drive synergies across these operations in terms of operational excellence, procurement, marketing, people development, and the investment in communities, in line with the group’s vision of business with purpose.

Ms Naidoo will combine the leadership of Konkola Copper Mines (KCM), in Zambia, and Vedanta Zinc International (VZI), in South Africa and Namibia, as well as Copper Mines of Tasmania. In this role she will also assume responsibility of Chief Executive Officer, KCM and will drive synergies across ZI and KCM. Ms Naidoo’s appointment coincides with the departure of Steven Din, KCM’s current CEO, who will leave Vedanta group this July.

Ms Naidoo joined Vedanta Resources in 2014 with over 20 years’ experience in the resources industry, including platinum, thermal coal and manganese. Prior to joining the Vedanta Group, she was Chief Financial Officer of Anglo American Thermal Coal, South Africa. As CEO of VZI she has led the development of the US$400 million Gamsberg Project, which will come into production in mid-2018, as well as the development of the Pit 112 Project at Skorpion Zinc.

Chairman of Vedanta Resources, Mr. Anil Agarwal commented, ‘’Deshnee has successfully brought on new production at Gamsberg and won the respect and confidence of the teams that she leads. I’m delighted that we have a woman leader from Africa at the helm of our African operations. We have strong ambitions for our business in Africa and Deshnee is committed to deliver on these.’’

KCM is one of the most attractive resource assets in the world with potential to reach 400 ktpa of integrated copper production in the near term. The Southern African operations have the potential to become one of the largest zinc producing regions in the world, while the investment in KCM will enable Zambia to become the largest copper-producing country in Africa.

Speaking about Steven’s move, Mr. Agarwal said, “We warmly thank Steven for all his valuable contribution to Vedanta and KCM over the last four years, where he successfully steered the business through one of the major copper price slumps. He enhanced the safety culture and initiated a programme to transform KCM and aligned the workforce to Vedanta’s vision to produce 400,000 tonnes Copper. I wish him every good fortune and thank him for his services to Vedanta, KCM and to the communities in the Copperbelt and Zambia. Steven’s departure from KCM creates the opportunity for Deshnee to step into the CEO – KCM role whilst the larger Africa role enables more collaboration and synergies across the continent and Southern Africa”.

About Vedanta Zinc International

Vedanta Zinc International (VZI) – headquartered in Johannesburg, South Africa – is a grouping of zinc assets located in South Africa, Namibia and Ireland, owned by India-based Vedanta Limited, a listed subsidiary of Vedanta Resources plc.

Operations include:

• Black Mountain Mining (BMM) and the associated flagship Gamsberg Project in South Africa’s Northern Cape province;

• Skorpion Zinc Mine and Refinery in the //Kharas region of Namibia.

Mining and milling at the Lisheen Mine in Ireland was concluded in December 2015 after 17 years of operation and the mine is currently in an active closure mode.

VZI’s vision is to create an integrated world-class regional zinc complex comprising the BMM (including Gamsberg) and the Skorpion Zinc mining and refining operations. To date, Vedanta Resources has invested over $1.7 billion in Southern Africa, and contributed over R100 million in CSR projects in South Africa and Namibia over the last 5 years.

About Konkola Copper Mines

Konkola Copper Mines Plc (KCM) is one of the leading integrated copper producers in Africa, and aims to become a major global copper producer. KCM is primarily engaged in the exploration for, mining, production and sale of copper and copper by-products.

KCM’s operations are located in the Copperbelt and Central Provinces, and include open pit mines, underground mines, several concentrators, a leaching plant, a state-of-the-art flash smelter, a modernized refinery and a sulphuric acid plant. We recently sank Zambia’s first post-independence era mining shaft as part of the Konkola Deep Mining Project (KDMP). This 1,500 metre shaft has ensured KCM’s longevity, by allowing for the access of the deep Konkola ore body and extending the mine life by over 25 years.

KCM is currently one of Zambia’s largest private sector employers with over 13,000 employees.

The state-owned mining company Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) is the other shareholder in KCM, controlling a 20.6% stake in the company. KCM enjoys a strong relationship with the Zambian government and is a committed partner in improving the economic prospects of the country through our operations and other activities

About Vedanta Resources plc

Vedanta Resources plc (Vedanta) is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Liberia, Australia and Sri Lanka. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. For more information, please visit www.vedantaresources.com.


Source: vedanta zinc international

We Need to Amass Worth in Mining

Mr Mateyo noted that the province is endowed with abundant mineral resources ranging from copper, gold, and uranium deposits hence the need to amass the wealth and development.

Speaking in Solwezi yesterday during the official opening of a three-day provincial alternative mining “indaba” organised by a consortium of civil society organisations, Mr Mateyo said currently, there were limited platforms and opportunities for local communities in mining areas to engage and dialogue at a provincial level with government, local authorities and mining companies.

He observed that traditional leaders especially have not generally been availed the opportunity to dialogue on issues that impact them regarding mining activities.

“Therefore, engagement platforms are of importance to providing space for government to hear from its citizens and get prioritization of social economic justice,” Mr Mateyo said.

He called for strengthening of the participation of the general populace, particularly communities affected by mining in mineral resources governance.

“Additionally, the mining sector is faced with a number of problems that may be stifling sustainable socio-economic growth and invariably affecting the living standards of near-mine communities, “he said.”

Earlier, organising committee chairperson, Charles Banda implored communities living within mining activities to always engage government to address the challenges they are faced with.


Source: Daily Nation

Kansanshi smelter exceeds its Q1 target. Owned by ZCCM-IH & FQM

LUSAKA, ZAMBIA – First Quantum Minerals has recorded a 39 per cent increase in production at its Sentinel mine in the first quarter of 2018, compared with the same period of last year.

While the company’s Kansanshi smelter at Solwezi exceeded its target for the quarter, with 350,591 tonnes of concentrate processed.
The mining firm has also reported comparative earnings of US$49 million, even after a US$121 million loss realised under a programme to hedge copper sales, for which no tax credit is available.

“We are pleased with the quarter’s results in all aspects of the company. The solid performances at our Zambian operations are of particular note considering the severity of the seasonal rains,” noted FQM Chairman and CEO Philip Pascall, after the company released its first quarter 2018 financial and operating results on Thursday.

In executing several proactive measures to strengthen the balance sheet and improve liquidity, the global mining company FQM  ended the quarter with US$810 million in net unrestricted cash and cash equivalents, US$1,670 million of committed undrawn facilities and in full compliance with all financial covenants.

The mining firm has also put in place a new US$400 million five-year term facility agreement in the subsidiary that owns the Sentinel mine. Repayments are scheduled to start in December 2019.

The mining firm also completed a US$1.85 billion senior note programme, which will be used to repay an existing term loan facility, the outstanding balance on a revolving credit debt facility, fees associated with the offering and for general corporate purposes.

“With the reduction in our copper forward sales contracts, the value of maintaining our capital investment programme through a challenging economic environment is becoming more visible. The significant turnaround in our financial results from a year ago is indicative of First Quantum’s enhanced earnings and cash generating capability. This is expected to grow substantially when Cobre Panama begins commercial operations,” said Mr Pascall, referring to the company’s massive US$5.48 billion Cobre Project in Panama, which will become one of the largest copper mines in the world.

“While we had several successes in the quarter, we also had a few challenges. Such occurrences are not unexpected in the resource industry with the onset of improved commodity prices and sentiment. While this can be momentarily distracting, these matters do get resolved through open discussion and transparency which we are committed to,” Mr. Pascall concluded.

-Ends-

About First Quantum Minerals Ltd
First Quantum Minerals Ltd is a global metals and mining company producing mainly copper, gold, nickel and zinc. The company’s assets are located in Zambia, Spain, Mauritania, Australia, Finland, Turkey, Panama, Argentina and Peru.
In 2017, First Quantum produced 573,963 tonnes of copper, 199,736 ounces of gold and 17,837 tonnes of nickel.
In Zambia it operates the Kansanshi mine – the largest copper mine in Africa – and smelter and the Sentinel mine in Kalumbila.
The company is listed on the Lusaka and Toronto stock exchanges.
http://www.first-quantum.com/


Source: LANGMEAD & BAKER

Electric vehicles are poised to unleash a cobalt boom

EACH new electric vehicle (EV) uses about 10kg (22 lbs) of cobalt. More than half of the world’s reserves and production of the metal are in one dangerously unstable country, the Democratic Republic of Congo. Moreover, four-fifths of the cobalt sulphates and oxides used to make the cathodes for lithium-ion batteries are refined in China. China has already proven willing to restrict exports of rare-earth metals to foreign firms. And although China is not thought to be cornering or manipulating the market for cobalt, growing global demand has still sent the the element’s price soaring.

Non-Chinese battery manufacturers have already begun looking for ways to protect themselves from potential shortages. Their best answer to date is another metal closely associated with cobalt: nickel. Some firms are now producing cobalt-lite cathodes, by raising the nickel content to as much as eight times the amount of cobalt. This allows the battery to run longer on a single charge—but also increases the risk it will burst into flames. So far, the price of nickel has remained flat. But according to McKinsey, a consultancy, by 2025 EV-related demand for nickel is expected to rise 16-fold.


Source: The Economist

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 year ended 31 March 2017 are approximately 145% higher than for the year ended 31 March 2016.

The movement in earnings is mostly due to improved performance for most major mining companies in ZCCM-IH’s portfolio. This improved performance is attributable to stability in energy supply and continuous upsurge of copper prices on the international market.

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 provisional results for the year ended 31 March 2017 to be released via the LuSE SENS and published in the local press on or about 3 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 29 December 2017

Lusaka Securities Exchange Sponsoring Broker
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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 29 December 2017


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ZCCM-IH | Market Update

We refer to the Market Announcement (Announcement) provided in December 2016, in which the market was informed that the English High Court had granted default judgment in favour of ZCCM-IH in its claim against Konkola Copper Mines Plc (KCM), brought pursuant to a Settlement Agreement entered by the parties in 2013, for a sum in excess of US$100 million.

In the same Announcement, the market was further informed that the Court had given directions for an inquiry to determine whether KCM had breached the Settlement Agreement by making payments to Vedanta Group Companies whilst sums remained due and owing to ZCCM-IH, and whether ZCCM-IH would be entitled to recover additional sums from KCM as a result.

We now advise that ZCCM-IH has successfully brought an application for summary judgment against KCM for such additional sums. Granting the claim in full, the Court has awarded ZCCM-IH a further US$35,991,768, bringing the total amount awarded to approximately US$139 million. ZCCM-IH was also awarded its costs of bringing these proceedings.

The parties have agreed a repayment plan for the recovery of these additional sums, which consists of 21 equal monthly instalments of US$1,713,893.72, together with interest at 3 per cent. The final payment is expected on 31 August 2019.

By Order of the Board

C Chabala
Company Secretary
Issued in Lusaka, Zambia on 29 December 2017

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 June 2016


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