Mopani deal: Expert’s perspective.

IN JANUARY, Government’s investment arm, Zambia Consolidated Copper Mines – Investment Holdings (ZCCM- IH), agreed to buy Glencore’s majority stake in Mopani Copper Mines Plc in a US$1.5 billion deal, and yesterday, during an extraordinary general meeting, the transaction was finalised, with shareholders overwhelmingly endorsing the deal.

The acquisition of Mopani from the Swiss mining giant, Glencore, is without doubt the biggest takeover deal by a local company in recent history, definitely not after Frederick Chiluba’s privatisation era of the 1990s, which saw the end of the country’s biggest mining conglomerate, ZCCM.

The deal has, inevitably, generated a lot of public debate. The questions surrounding the deal mainly centre on the ability of the new mine owners to run it successfully and pay the debt owed to Glencore, while some have accused Government of influencing the off-take deal in order to save thousands of jobs in an election year.

For others, perhaps it is just a case of déja vu, remembering how the mighty ZCCM Ltd was dismantled, with devastating results that remain to date.

But one of the country’s well- respected mining experts, Sixtus Mulenga, has defended the deal, saying it was a purely business and not political transaction which will benefit the country in the long run.

He describes the deal as a “step change”, made after the realisation that Zambia did not participate in the exploration of its mineral resources after privatising the mines.

“That move of buying shares is normal international business practice; companies buy shares from each other, and the reason ZCCM-IH did itis that Glencore had wanted to put the mine under care and maintenance, so it was important for ZCCM-IH to safeguard jobs
for the Zambian people and to protect the assets because once you put an asset on care and maintenance, it begins to deteriorate and lose value,” he says.

Dr Mulenga, who is a mining geologist with over 35 years experience, says Glencore’s decision to put the mine under care and maintenance was a contradiction, considering the price of copper, which had nsen to impressive levels last year.

Currently, copper is trading at over US$8,000 per tonne, which should spell boom time for producers such as Zambia.

Dr Mulenga says projections show that the global demand for copper will remain high up to the year 2030, with a global shortfall of 10 million tonnes.

He says the demand is driven, in part, by low investment during the global pandemic period, as well as climate change mitigations, including the push to cut fuel emissions by producing electric cars.

He also says concerns about the huge debt owed to Glencore should not cloud the deal.
“This deal is effectively ‘vendor financed’, meaning the seller is effectively providing the money for the buyer to purchase the operation. ZCCM-IH is not paying upfront and Glencore has effectively provided ZCCM-IH with the loan for the acquisition of Mopani. As would be the case with a loan from a bank, that loan must of course be repaid, and in this case, the loan is being repaid from the proceeds of the

asset over time,” he explains. ZCCM-IH itself has addressed concems over the huge debt owed to Glencore by stating that “the US$1.5 billion is a commercial loan to Mopani and a loan of this nature is not unusual for a mine of this size”. It also says the repayment terms provide some relief to Mopani in years when the copper price is depressed or when the operations are not profitable, and that the royalty payment is fixed for the first three years and thereafter is linked to the copper price, meaning when the price goes down, so does the royalty. ZCCM-IH also denies assertions that in the event that Mopani fails to pay the US$1.5 billion debt, it will be passed on to Government, saying the mining firm is well able to settle the debt from its cash flows. According to ZCCM-IH, 33.3 percent of cash flows are applied to debt repayment, leaving the company with 66 percent of cash flows to finance its operations.
And of course the mine sits on assets exceeding US$1.5 billion. Mining champion
Dr Mulenga also views ZCCM-IH as a good investor because of its status as a publicly-listed company that thrives on good governance.

“ZCCM-IH 1s a good home for Mopani in that ZCCM-IH is a publicly-listed company, providing many investors with the comfort that comes with the improved governance and transparency practices typically associated with listed companies,”

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ZCCM-IH shareholders endorse 90% acquisition in Zambia’s Mopani

LUSAKA (Reuters) – Shareholders in Zambia’s ZCCM-IH have overwhelmingly supported its acquisition of a 90% stake in Mopani Copper Mines (MCM), the state-owned mining investment firm said on Wednesday.

Glencore agreed the sale of its majority stake in Mopani to ZCCM-IH in a $1.5 billion deal, the miner and trader said in January.

The extraordinary general meeting vote on the resolution was the last condition towards the completion of the transaction and ZCCM-IH now holds 100% ownership of Mopani, ZCCM-IH said in a statement.

The deal is funded by borrowings from Carlisa Investments Corp – a British Virgin Islands-based company through which Glencore holds its stake – and other members of the Glencore group.

With increased ownership, ZCCM-IH would now be an active participant in the global industry as copper becomes a critical metal, ZCCM-IH Chief Executive Mabvuto Chipata said.

“Mopani will repay the remaining debt of $1.5 billion from its own cashflows and the repayment is expected to happen well within the remaining life of mine,” Chipata said.

Glencore said in a separate statement it would continue to retain offtake rights in respect of Mopani’s production.

ZCCM-IH has said it expects to find a new investor for Mopani by the end of the year as it looks to boost copper output from a little more than 34,000 tonnes to 150,000 tonnes.

 

Source : https://www.reuters.com/article/uk-mopani-copper-m-a-zccm-ih/zccm-ih-shareholders-endorse-90-acquisition-in-zambias-mopani-idUSKBN2BN1UZ

Glencore sold its stake in Mopani

Glencore today announces that its subsidiary Carlisa Investments, in which Glencore holds 81.2% of the shares, has completed the sale to ZCCM Investments Holdings of its 90% interest in Mopani Copper Mines, located in Zambia. As previously announced, the consideration of the transaction is US$1 and transaction debt of $1.5 billion.

Glencore said it will retain offtake rights in respect of Mopani’s copper production until the transaction debt has been repaid in full.

Mopani is an integrated copper producer located in the Copperbelt of central Zambia, producing copper cathodes.

Glencore is one of the world’s largest global diversified natural resource companies. The group’s operations comprise around 150 mining and metallurgical sites and oil production assets.

 

Source : https://www.kitco.com/news/2021-03-31/Glencore-sold-its-stake-in-Mopani.html

GLENCORE CONFIRMS COMPLETION OF MOPANI STAKE SALE

Diversified miner Glencore has confirmed that its 81.2%-owned subsidiary Carlia Investments Corp has completed the the sale of its interest in Mopani Copper Mines to Zambian State-owned ZCCM Investment Holdings (ZCCM-IH).

Glencore retains offtake rights in respect of Mopani’s production.

ZCCM-IH notes in a separate statement that it is pleased that the conditions precedent to the transaction have been satisfied.

“ZCCM-IH is now the holder of 100% of the issued shares in Mopani, transforming the company from an investment company to owning and operating a multibillion-dollar mining asset in Zambia. The board looks forward to providing shareholders with further updates on Mopani in the coming months,” it states.

ZCCM-IH shareholders overwhelmingly (99.99%) nod the acquisition of 90% shares in mopani copper mines Plc from clarisa representing Glencore and FQM.

The Transaction was subjected to Shareholders’ approval during an Extraordinary General Meeting held yesterday virtually.

ZCCM-IH is now officially 100% owner of Mopani Copper Mines Plc, a move that is in line with the company’s new strategic plan 2020 – 2026.

Source : https://copperbeltkatangamining.com/glencore-confirms-completion-of-mopani-stake-sale/

GVT. RESCUES MOPANI EMPLOYEES

Government has secured legal services for over 2,500 MOPANI Copper Mines employees who had sued Stanbic Bank for unilaterally increasing interest rates on their personal loans.

Mines Minister Richard Musukwa says government through ZCCM- IH has hired a legal Counsel to represent the aggrieved Mopani Copper Miners in order to assert their rights against Stanbic Bank.

Mr. Musukwa says government has received numerous complaints from the Mine workers whose initial case was dismissed by the Kitwe High Court after they failed to raise funds to pay the Lawyer.

He says government has secured legal services for the Mopani Miners in order to understand the problem and protect their interests.

Mr. Musukwa has told ZNBC News on telephone that government has a duty to ensure workers at Mopani Copper Mine are not short-changed in any transaction they venture.

And Mine Workers Union of Zambia President Joseph Chewe said the gesture by government is a relief to the miners who have been paying Stanbic Bank over the last seven years.

Mr. Chewe said Mopani workers will be assured of more money in their pockets once the loans are scrapped off their pay slips.

Mopani workers have been challenging Stanbic Bank for increasing their interest rates from 15 to 40 percent.

 

Source: https://www.znbc.co.zm/news/gvt-rescues-mopani-employees/

Copper boom catching the eye of politicians

Copper producers awash with cash after a doubling of prices are entering the next phase of the cycle: increased fiscal pressure from their host nations, reports Bloomberg.

News this week from three of the top copper-producing nations show authorities are looking for a bigger share of the windfall. While that’s not unusual in periods of high prices, this time there’s the added incentive of finding ways to fund pandemic recovery, while talk of a new supercycle is also helping to ratchet up political rhetoric.

On Wednesday, Chile’s lower house approved a proposed royalty on copper in a move the industry says risks thwarting investment. On the same day, Bloomberg reported that the front-runner in Peru’s presidential race will push for a tougher stance against mining companies to ensure more of the revenue generated by vast mineral wealth stays in state coffers. Hours earlier, the head of Zambia’s state-owned mining investments company was quoted as saying he wants a bigger slice of the revenues from copper operations.

 

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“We could certainly see more examples of this in the coming months,” Colin Hamilton, managing director for commodities research at BMO Capital Markets, wrote in a note to clients.

While copper futures have retreated from the highest levels in almost a decade last month, they’re still almost 90% up from a year ago after Chinese factories bounced back quickly from the pandemic and producers endured disruptions. Now the prospect of a global recovery aided by vaccines and a wave of de-carbonizing pledges paint a rosy longer term picture for the metal used in everything from wiring and pipes to batteries and motors.

That hasn’t gone unnoticed by mining company stakeholders including unions and governments.

In Chile, where the pandemic was preceded by months of anti-government protests, consensus is building that highly profitable sectors such as mining should help finance the pandemic recovery and reduce economic inequalities.

In a country that accounts for more than a quarter of the world’s mined copper, opposition lawmakers want to introduce a 3% tax on copper and lithium produced by companies such as BHP Group and Albemarle Corp. to fund development projects, responding to the rising social and environmental standards of investors and supply chains.

“It’s part of what our country needs — greater economic and social justice and an end to privileges that big companies have had,” Christian Democrat Deputy Ivan Flores said.

In neighboring Peru, the second-biggest copper supplier, Yonhy Lescano said he wants to close tax loopholes and negotiate profit-sharing agreements with multinational companies. Lescano is leading in all major polls ahead of the highly competitive April 11 first round election. His comments will resonate with some isolated communities in the Peruvian highlands that have resisted mining.

In Zambia, ZCCM Investments Holdings Plc, which is finalizing the purchase of Glencore Plc’s Zambian copper unit, also wants larger shares in other companies that produce the metal in the southern African nation, Chief Executive Officer Mabvuto Chipata said in an interview.

Zambia has progressively increased royalties after long complaining that miners in the country seldom report profits and as a consequence pay little in tax. Now ZCCM-IH is seeking to further increase its share of revenues as Zambia prepares to hold general elections in August. Copperbelt Province, home to the mines of Glencore and other foreign companies, is a key political battleground.

To be sure, such initiatives may not see the light of day. As a presidential candidate, Peru’s Ollanta Humala rallied with local communities against foreign mining companies only to embrace the industry after he won office. In Chile, President Sebastian Pinera may veto the royalty bill or seek to block it through the country’s constitutional court.

 

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Companies, via their industry associations, will also fight against changes in the rules of the game. Management teams and boards that have endured previous cycles will be keen to defend margins at a time when operating and building mines is getting trickier and pricier.

But the industry will have to walk a fine line given the rising scrutiny on environment, social and governance issues.

With companies stepping up to highlight their ESG efforts, “host countries may find that the miners might not be as passive this time round,” Bloomberg Intelligence analyst Grant Sporre said in an emailed response.

Source : https://www.miningglobal.com/technology/newmont-operational-excellence-digital-transformation

No job losses once we take over Mopani – ZCCM-IH

MOPANI Copper Mines Plc has no plans to make any employee redundant once ZCCM-IH takes full ownership from March 31, 2021, says acting chief executive officer Charles Sakanya.

And Sakanya has insisted that ZCCM-IH’s imminent 100 per cent ownership of Mopani is the “best deal” for Zambians because citizens will benefit more compared to the previous status quo under Glencore Plc.

Meanwhile, ZCCM-IH chief investments officer Brian Musonda has disclosed that Mopani’s enterprise value is above the US $1.5 billion debt that will be due to be repaid back to Glencore, an indication that the anticipated return on investment will outweigh the cost of purchasing the mine.

Speaking during a Radio Icengelo programme in Kitwe, Thursday, Sakanya said Mopani employees’ jobs were secure and no one would be laid off following ZCCM-IH’s imminent takeover set to be completed by the end of this month.

Mopani’s outgoing parent company, Glencore, is set to relinquish its majority stake in its subsidiary following the signing of an off-take agreement with ZCCM-IH by March 31.

“There are no plans to declare anyone redundant, it’s a going concern, and there’s been no plans for redundancy at all,” Sakanya said in response to a listener who asked a question on miners’ job security.

And he insisted that the transaction was the “best deal” for Zambians because citizens would benefit more compared to the previous status quo under Glencore.

He outlined that the Kitwe-based mine still had in excess of 330 million tonnes of copper ore reserves still required to be mined, signalling a long mining shelf-life.

“In terms of the reserves, we had an independent consultant looking at this as part of the transaction, and they have confirmed what we know. The resources are in excess of 255 million tonnes at Nkana, 76.6 million tonnes at Mufulira, that’s a very big mining resource. With deepening exploration, that life can be extended beyond the 25 years. This transaction is the best that has happened for Zambians. Glencore started off by trying to put the mine on care and maintenance, and government took the opportunity to increase their shareholding and the plan they gave Glencore was accepted by Glencore,” Sakanya said.

“So, there are people worrying about: ‘what’s going to happen? What about the ownership, benefit to Zambia?’ I think this is where we need the support of everyone because, now, Mopani Copper Mines will be 100 per cent owned by Zambians so all the benefits that will ensue will be to the benefit of Zambia whereas in the past, it was to the benefit of the shareholders who were foreign.”

He dismissed any assertion that locals were incapable of successfully running the mining company.

“Zambia has more than adequate capacity to run the mines; we’ve been running the mines for close to a 100 years. The people who run the mines, mostly, are Zambians. In terms of capacity, Zambia has more than adequate capacity to run the mines. For example, from April (2020), when Glencore the care and maintenance shutdown, Mopani has run mainly 95 per cent Zambian workforce, and this will be the twelfth month when Zambians will be running the asset so we have more than adequate capacity in terms of human resource,” he said.

Meanwhile, Musonda disclosed that Mopani’s enterprise value was actually above the US $1.5 billion debt that would be due to be repaid back to Glencore.

He was responding to persistent concerns from various stakeholders about the debt being more than the actual value of Mopani, widely reported at an estimated US $750 million.

“First and foremost, this debt has always been on the books of Mopani so ZCCM-IH is not bringing cash of US $1.5 billion to buy the asset. In comparison to the value being referred to, there’s a very big difference between finance and accounting; when accountants are preparing statements, they go by a number of rules provided, according to the International Financial Reporting Standards (IFRS). So, the US $750 million being referred to, is a number sitting on the books of Mopani, according to the requirements of the accounting standards, so it has nothing to do with the actual value. This is an asset that we are comfortable with; we know everything; we have been part and parcel of the board; we know the value we are going to generate. And when you look at the enterprise value, it is way over and above the US $1.5 billion debt that it is going to carry,” he explained.

“There are also a lot of assets that have been invested in at Mopani whose value is way over and above the US $1.5 billion under discussion. So, to put in simple terms: ZCCM-IH is not paying an amount of US $1.5 billion; Mopani is just going to continue servicing the debt, which it has always carried.”

He also outlined that the State-controlled mining investment firm will not need to raise capital outside Zambia to run the mine as there were sufficient resources locally to manage the asset.

“When we were doing a detailed analysis, which was done, and also, this is the reason we accepted the value of the debt of US $1.5 billion because we know that this is sustainable. Also, we don’t need to look for money from outside. However, in case there’s need, it is possible that we can raise funds from the market. But from the interactions that we’ve been having with management, we don’t need to go to the market and raise funds for Mopani, it is a very good asset,” said Musonda.

In line with one of the pillars of its new strategic plan for 2020-2026 of increasing stakes in its underlying mining assets, ZCCM-IH is set to acquire 90 per cent of the issued shares of Mopani Copper Mines from Carlisa Investment Corp as represented by Glencore.

The acquisition will result in ZCCM-IH taking full ownership of Mopani.
The transaction is scheduled to be fully consummated by March 31, 2021, after the ZCCM-IH Extraordinary Annual General Meeting on March 30 in which ZCCM-IH shareholders will vote on the unprecedented transaction.

On January 19, 2021, the Zambian government, through ZCCM-Investment Holdings acquired 90 per cent shares in Mopani, adding to its already existing 10 per cent shareholding in the company.
The signed off-take arrangement deal is priced at US $1.5 billion, which will be financed through a loan to be serviced from Mopani’s future copper sales.

Government now has 100 per cent ownership of Mopani, a move, which, however, received mixed reaction, with more stakeholders voicing serious concerns as to the commercial viability and economic benefits government would accrue on behalf of taxpayers in the off-take arrangement deal negotiated with Mopani’s outgoing parent company, Glencore, the Swiss-based commodities and minerals trader.

 

Source : https://diggers.news/business/2021/03/22/no-job-losses-once-we-take-over-mopani-zccm-ih/

Why the acquisition of 90% of additional shares in Mopani by ZCCM IH is a timing masterstroke

In the era of ‘irrational’ economics, astute investors must keep an eye on the happenings in the macro environment to make sound investments. Although not a traditional risk associated with happenings in the macro, the global shutdown that Covid 19 caused meant that commodities would only see a northward trajectory when the world opened up.

Copper has experienced a bullish run that has seen it rise to levels last seen over 8 years ago. According to an article published on CNBC early this year“The demand for copper has been on the rise and is expected to go further up with top copper consumer China getting back to business after a long holiday and optimism of a stronger global economic recovery in view of COVID-19 vaccine roll-outs”.

Therefore, this means that investors who have been keeping a close eye on these developments and are involved in transactions such as acquisitions of commodity extraction assets such as mines are destined for an unprecedented windfall.

On Tuesday 30th March 2021, the ZCCM IH Board will host its investors at an Extra Ordinary General Meeting (EGM) to seek its shareholders’ approval for the Transaction whereby it will acquire 90% of the issued shares of Mopani Copper Mines Plc (“Mopani”) (being all of the issued shares in Mopani which it currently does not own) from Carlisa Investments Corporation (“Carlisa”).

This transaction is one of many complex transactions that ZCCM IH has structured since its establishment. The transaction is backed by its recently released strategy which will see the investment house more active in an extractive industry that is poised for a boom in this decade. The nostalgic transaction represents an opportunity for ZCCM-IH to transform from a pure investment company to owning and operating a major mining asset in Zambia.

Shareholders in ZCCM IH will have the opportunity of seeking clarity from the Board regarding some of the intricacies of the transaction. At face value, the transaction will ZCCM IH increase its shareholding implying going forward, the woes it faced as a minority shareholder of not having its voice heard will now be the loudest voice in the board room. This is critical if the investment house is going to be able to extract better value from its underlying assets and remedy some of the previous challenges it had when it was the smallest voice in the boardroom.

Shareholders will also be reminded about how the asset they are now increasing their shareholding in was capitalized. Extractive industries are capital intensive and often not financed from cashflows due to the nature of the business as well as the working capital cycle of the value chain. Historically, Mopani has been funded by shareholder loans from Carlisa and Glencore Group. As of 31 December 2020, the total value of the loan was $4.3bn, under the terms of the debt agreement, this has been amended to $1.5bn.

The $1.5bn will be amortized through a royalty payment mechanism that has been structured in such a way that the cash water fall system will ensure all creditors are paid and equity is capitalized. The revenue stream will be assured through the signing of an offtake agreement that will see Glencore purchase the product at a market price that is based on London Metal Exchange (LME) pricing. In short, the continued acceleration of Copper Prices that have now breached the $9000 per ton mark are a win for ZCCM IH.

Source: http://fizambia.com/?p=10196 

Job Advertisement

Zambia Gold Company Limited (Zambia Gold) was incorporated on 10 January 2020. Zambia Gold (the ‘Company’) is co-owned by ZCCM Investments Holdings Plc with a 51% stake and the Ministry of Finance owning the remaining 49% stake.  Zambia Gold is mandated to lead the development of the gold sector in Zambia by undertaking commercial activities for the benefit of all stakeholders. In order to achieve this objective, Zambia Gold Company Limited will broadly undertake the following activities:

  1. Acquire exploration licenses and carry out mineral exploration with a focus on gold (either directly or in partnership with other entities)
  2. Develop and operate mines for gold and other precious minerals
  3. Refining, grading, producing, cutting, and processing gold and other precious minerals
  4. Buying and selling of gold and other minerals
  5. Support artisanal mining operations and transforming these into commercially viable activities
  6. Pursue value addition opportunities in the precious metals sector

In order to achieve this mission, the Company invites applications from suitably qualified and experienced individuals who are innovative, energetic, and performance-driven to fill the following positions:

Procurement Officer X 1

Location         : Kasenseli Gold Project-Mwinilunga
Department  : Chief Executive Officer’s Office
Report to        : Procurement Manager

Job Purpose
To effectively undertake and manage the procurement of goods/services/works in order to ensure their timely provision and contract management to ensure availability for the smooth operation, compliance with Public Procurement Act, 2008 and its Regulations.

Main duties

  1. Develop and implement the procurement plan to ensure all requirements for all user departments/directorates are captured in a timely and holistic manner.
  2. Continuously train (on the job) implementers in the preparation of terms of reference, specifications, and proactive follow-up of these inputs in the bidding processes;
  3. Prepare bidding documents based on acceptable bidding standards;
  4. Ensure all prior review requirements such as obtaining the No Objections from ZPPA are compiled within a timely manner;
  5. Ensure that all the due tendering processes are adhered to: sufficient publications, strict adherence to deadlines, transparency in communications with bidders, the publication of bid results, etc.;
  6. Ensure acceptable record-keeping in procurement with at least a complete procurement file for each procurement from start to contract finalization.
  7. Maintain all procurement records in a form appropriate for regular auditing and spot checks by relevant checkers;
  8. Oversee the contracting process, including ensuring that Evaluation Committees have people with appropriate expertise;
  9. Monitor implementation of contracts: progress report status on a weekly and monthly basis; and intervene to address problem upon request by the Project Manager;
  10. Ensure that goods and services financed have been procured in accordance with the Zambia Public Procurement Act;
  11. Prepare quarterly reports of progress with implementation of the Procurement Plan, and regularly inform the Project Manager of challenges and make proposals to overcome bottlenecks;
  12. Ensure that all procured goods are receipted and maintained using the approved store documentation.

Qualifications and experience

  1. Professional Qualifications
    Full Grade 12 Certificate;
    Graduate Diploma in Purchasing and Supply (CIPS) Level or Bachelor’s Degree in
    Purchasing and Supply.
    Member of the Zambia Institute of Purchasing and Supply (ZIPS)
  2. Minimum Relevant Pre-Job Experience:
    At least 4 years experience in a high demanding busy industry.
  3. Skill Specifications:
    Negotiation skills
    Communication skills
    Numerical and Computer skills
  4. Other Attributes (Personality Traits)
    Quality Oriented
    Price-conscious
    Integrity
    Collaborative
  5. Valid Driver’s license

2. Security Officer X 1

Location        : Kasenseli Gold Project-Mwinilunga
Department : Alluvial Gold Processing
Report to       : Project Manager

Job Purpose

To provide security, site access control services and assistance to the assigned project and jobsite activities. To assist in the implementation of security programs that are incorporated into the project construction activities, develop an effective working relationship with allocated project personnel, and advise their supervisors regarding their progress, any issues, and actions required. To ensure adequate investigations are carried out in order to promote industrial security which when not handled well results into loss of company property and revenue.

Main duties

  1. Secure premises and personnel by guarding and patrolling property;
  2. Enforce access control and maintain security data;
  3. Detect and prevent crime;
  4. Implement access control measures including physical and electronic measures;
  5. Sensitize employees on security-related issues;
  6. Supervise subcontracted Security Guards;
  7. Direct investigation of security incidents to establish the severity causes and initiate remedial action
  8. Ensure that all the daily security operations run smoothly and effectively
  9. Investigates any suspicious activities that take place and report unlawful activities such as theft or vandalism to Project Manager for further action
  10. Follow up with police and courts on various outstanding cases of theft to
  11. recover property and ensure that justice is done.
  12. Liaise with government security wings to ensure quality service delivery.

Qualifications and experience

  1. Professional Qualifications
    Full Grade 12 Certificate
    Bachelor’s Degree in Criminology/Psychology, Social Psychology, Public Administration or any other social sciences
    Police or Military Training necessary
  2. Minimum Relevant Pre-Job Experience:
    5 years relevant experience in a reputable organization with a traceable record.
    Experience in criminal investigations will be an added advantage.
  3. Skill Specifications:
    Ability to communicate effectively in English
    Interpersonal skills
    Computer skills
  4. Other Attributes (Personality Traits)
    Integrity and Honesty
    Reliability and dependability
    Initiative
    Confidentiality
    Sober character
    Physically fit
  5. Valid Driver’s license

Zambia Gold Company Limited provides equal employment opportunities to all Zambians on merit without discrimination on the basis of age, gender, color, tribe, disability, or religion.

Interested, suitably qualified, and experienced persons should send their application together with certified copies of Academic and Professional certificates; a detailed Curriculum Vitae with traceable references and a copy of the NRC should reach the undersigned not later than Thursday, 1st April 2021.

Only shortlisted candidates will be responded to.

Head Human Resources and Administration
Zambia Gold Company Limited
Subdivision F/377a/30/B
Kudu Road, Kabulonga
LUSAKA

Email: jobs@zccm-ih.com.zm

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Statement from ZCCM IH CEO on the new strategic direction of the investment company

We have developed the ZCCM Investments Holdings Plc (ZCCM-IH) new Strategic Plan 2020-2026 to pursue a mining focused investment strategy that is premised on growth and innovation, with a clear intent to drive the company to investment optimisation and financial excellence. This new strategic plan (the”2020-2026 Strategic Plan” or the “Strategic Plan”) has been motivated by the need for ZCCM-IH to re-focus its investments in mining and the mining value chain.

We have refined the previous sixteen Strategic Goals into four Goals that underpin the company’s strategic impetus, which are to:

1. Extract, and where possible, to add value to our current portfolio;
2. Investment in greenfield and brownfield mining, and mining related ventures across a diverse range of minerals:
i. Commodity diversification to include cobalt, gold, manganese and other base metals, gemstones, limestone, phosphate and rare earth minerals;
ii. Value addition downstream and exploration upstream: and
iii. Energy – to support sustainability of mining operations.

3. Achieve operational and financial excellence; and

4. Generate greater shareholder value by ensuring price discovery on our stock exchange listings.

CEO ZCCM IH Mabvuto Chipata flanked by his team who will be critical in executing the new strategy

In pursuit of our ultimate goal to create a world class investment holding company in Zambia and beyond, I urge all ZCCM-IH staff to play their role in fully implementing this strategic plan.

Sincerely,

Mr Mabvuto T. Chipata
Chief Executive Officer