Government has completed developing Zambia’s new mining policy that will speak to the aspirations of the new dawn administration’s objectives for the sector and will announce the consolidated document by June this year.

Mines and Minerals Development Minister Paul Kabuswe disclosed to Phoenix News that the team of technocrats at the ministry that was tasked to come up with the document have submitted it to his office and that he is currently reviewing the document.

Mr. Kabuswe says the document is comprehensive but once reviewed, is expected to take into account, comments from various stakeholders, resolutions made at the 2021 Zambia mining indaba from which the mining fiscal regime was already changed in the 2022 national budget, and to shape the trajectory of the sector going forward.

He adds that the document will soon be availed to stakeholders before it is released to the general public although he was quick to mention that while the approach is all-inclusive and will appreciate comments from numerous interest groups, there will be a few submissions that may not be admitted into the impending mining policy.

Source: https://www.phoenixfm.co.zm/business/developing-of-zambias-new-mining-policy-completed/

Investing in African Mining Indaba (www.MiningIndaba.com) is pleased to announce that the President of the Republic of Zambia, Hakainde Hichilema has confirmed his attendance at the Investing in African Mining Indaba, taking place in Cape Town from 9 – 12 May 2022.

Newly elected President Hichilema, who was inaugurated in August 2021, has been hailed as an inspiration after he reversed his fortunes – having been imprisoned for 127 days after the 2016 elections he went on to secure a landslide victory in the 2021 polls.

Now the seventh president of Zambia, President Hichilema has pledged to foster a better democracy through respect for the rule of law, restoring order, and protecting human rights. He also hopes to restore confidence in the country as a mining investment destination.

Zambia’s mining investment climate deteriorated in recent years as the previous administration pursued resource nationalism, leading to damaged relationships with investors and lower levels of investment. According to the Zambia Extractive Industries Transparency Initiative, mining accounted for 79.5% of Zambia’s total exports and nearly 31.4% of government revenues in 2020.

President Hichilema is expected to share his vision of a new dawn for Zambia, in which macroeconomic stability is restored and sustainable, inclusive economic growth is promoted. Believing that the mining sector can be an important catalyst for national development, his government is looking to significantly increase the production of copper and other minerals so that Zambia can reclaim its place as a leading miner on the continent. To support these ambitions President Hichilema has already introduced a friendlier mining tax regime and made clear his intention to bring stability to the sector, as well as ensuring regulatory fairness and the elimination of obstacles that stand in the way of new investment.

The President believes that stronger relationships – between the government, miners and local communities – will improve equitable growth and help the country to deliver for its citizens.

The Mining Indaba is back in person this year and we are looking at the future, at moving forward. The programme content for 2022 is geared towards exploring the key drivers of investment decisions within the African mining market and forging the future direction of the African mining industry.

The overarching theme: ‘Evolution of African Mining: Investing in the Energy Transition, ESG and the Economies’ is set to inspire new approaches, spark conversations and encourage partnerships that will truly transform mining on the continent.

Source: https://www.devdiscourse.com/article/business/1943004-zambia-president-to-attend-at-investing-in-african-mining-indaba

ZCCM Investments Holdings (ZCCM-IH) has recorded a 273% increase in profit to K2.13 billion as at December, 2020 from K307 million in 2019.

The company attributes the increase in profit in associate companies to K1.48 billion from K420 million recorded in December 2019.

ZCCM-IH company secretary, Chabby Chabala said this is due to increase in the profitability of Maamba Collieries Limited, CNMC Luanshya Copper Mines Plc, Non-Ferrous Corporate Africa Mining Pls and Kansanshi Mining Plc.

Mr Chabala also said the company recorded an increase in revenue to over K113 million from about K62.4 million.

Source: Daily Mail Zambia

ZCCM Investments Holdings PLC said on Wednesday that it expects earnings per share for the year ended Dec. 31, 2020, to rise for both the company and group due to higher income and dollar-denominated assets.

The investment holding company said EPS for the full year is expected to be around 594% higher for the group and 273% higher for the company, compared with the nine-month financial period ended Dec. 31, 2019.

The rise in EPS for the group is primarily attributed to an increase of 1.07 billion kwacha ($60.7 million) in share of profit and exchange gains from its dollar-denominated assets, while the EPS increase for the company is due to higher investment and net finance income.

Since 2019, the company changed its financial year-end to Dec. 31 from March 31.

Source: https://www.marketwatch.com/story/zccm-investments-holdings-sees-2020-eps-higher-271645611182

In accordance with Section 3.4(b) Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of ZCCM Investments Holdings Plc (the “Company” or “ZCCM-IH”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the Group and Company for the financial year ended 31 December 2020 is expected to be approximately 594% and 273% higher respectively, than the nine (9) months financial period ended 31 December 2019. ZCCM-IH with effect from 1st April 2019, changed its financial year end from 31st March to 31st December to comply with the provisions of section 71 of the Public Finance Management Act No. 1 of 2018.

The movement in EPS for the Group is primarily attributed to the increase of ZMW1.067 billion in share of profit of equity accounted investee companies coupled with exchange gains recorded from the Group’s United States Dollars (US$) denominated assets. The movement in EPS for the company is attributed to increase in investment and net finance income. 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 audited Abridged Financial Results for the year ended 31 December 2020 to be released on Securities Exchange News Services (“SENS”) and published in the local press on or about 23 February 2022. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results

Source: https://fizambia.com/press-release-zccm-ih-expects-higher-earnings-per-share/?utm_source=rss&utm_medium=rss&utm_campaign=press-release-zccm-ih-expects-higher-earnings-per-share

A MINING metallurgist says gold processing should be left to locals for the country to derive benefits from the high-value mineral.

ZCCM-Investments Holdings (ZCCM-IH) has been given the mandate to regulate the mining, processing and refining of gold, which is sold to the Bank of Zambia (BoZ).

In 2020, ZCCM-IH set up Zambia Gold Company Limited (ZGCL) to formalise and grow the gold sub-sector.

As at December 2021, ZGCL sold 283 kilogrammes of gold worth K345 million to BoZ.

Morrison Songwe, who is Zambia Environmental Management Agency (ZEMA) acting director general, said the country is capable of setting up its own refinery for gold processing

Read more: http://www.daily-mail.co.zm/lets-purify-gold/

Zambia is looking to position itself as Africa’s top copper producer in the next decade, reclaiming a ranking it lost to the Democratic Republic of Congo (DRC) in 2014.President Hakainde Hichilema’s government, which came to power in August, hopes to ramp up annual copper production from 800,000t to 3Mt — against the DRC’s 1.2Mt — to ride the commodity boom and boost investment in a sector that accounts for 80% of Zambia’s foreign exchange earnings and 11% of GDP.Copper prices at the London Metal Exchange hover at about $10,000/t, having climbed to a record $10,747.50 last year. And finance minister Situmbeko Musokotwane expects them to rise even further, given increased demand from industries such as the electric vehicle manufacturing sector.”Copper is expected to be as lucrative as oil was in the mid-1970s,” Musokotwane said in his national budget address in October. “The ‘new dawn’ administration will facilitate the increase in copper output from the current 800,000t to over 3Mt …

Read more: https://www.businesslive.co.za/fm/features/africa/2022-02-10-copper-gets-a-zambian-tax-boost/