Let’s Plan for Load-Shedding

FOLLOWING a dry spell which has adversely affected almost half of the country in the 2018-2019 rainy season, it has become necessary for power utility firm Zesco to ration the supply of power to its domestic and industrial clients.
Erratic rains have resulted in low water levels at Zesco’s hydropower plants such as Kariba Dam and Itezhi Tezhi.
Cutting back on electricity supply to households and industries will certainly have a negative impact on the economy.
However, it has become inevitable in view of the dry spell. If Zesco had a way, it would not resort to cutting back on electricity supply because this will eat into the power utility’s revenue base.
But this is the consequence of climate change which the country did not bargain for, but should now be planning ahead for. Plans that are already in place must be accelerated.
Now, households, businesses – small, medium and big – will have to come to terms with power rationing otherwise known as load-shedding.
When calamities such as droughts hit us, it reminds the country of the sad reality about the country’s over-dependence on hydropower.
Hydropower generation, despite being the country’s mainstay of electricity, is a risky undertaking due to its vulnerability to climate change.
In 2015, the country experienced a severe energy deficit and crisis on account of low water levels resulting in inadequate power generation.
The country’s hydropower resource potential is estimated at over 6,000 MW. Currently, the installed capacity stands at about 2,700 MW.
Of this, small- and medium-sized power generation accounts for less than two percent.
The country has rich potential in renewable energy resources such as biomass, solar, wind and geothermal, which are currently under-utilised.
That is why there has been emphasis of late for the country to seriously consider having a rich mix of energy sources.
Progress has been made with the thermal plant at Maamba Collieries Limited, built at over US$840 million and generating 300 megawatts which is fed into the national grid.
With the help of the International Finance Corporation and the World Bank Group, Government is putting up several solar power projects around the country.
The recent commissioning of the completion of the solar photovoltaic plant for the Bangweulu Power Company Limited in Lusaka South Multi-Facility Economic Zone is one of the perfect examples of Government efforts in embracing renewable energy.
There are also a couple of other projects in the pipeline.
However, the task of diversifying sources of energy cannot be left to Government alone. The private sector, too, should come on board if the country is to keep pace with economic growth.
At household level, families and individuals should consider switching to gas stoves as well as installing solar panels to ensure their critical gadgets are operational.
Zesco, on the other hand, should publicise the load-shedding schedule so that all power consumers are aware when they are going to be affected.
The power utility should also ensure that the power rationing should not hamper production levels in industries, farms as well as small and medium businesses remaining in business during the load-shedding period.
Zesco should come up with a win-win situation with industry by ensuring that industry is given power at the agreed time so that there is maximisation of limited resources.

ZCCM-IH | Cautionary Announcement

In accordance with the requirements of the Lusaka Securities Exchange Listings Rules (“LuSE Listings Rules” or the ”Rules”), shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”) are advised that ZCCM-IH has on 21 May 2019 filed a petition in the High Court of Zambia for the winding up of Konkola Copper Mines Plc. ZCCM-IH has filed the said petition pursuant to section 56 (1) (c) of the Corporate Insolvency Act No. 9 of 2017. By Order of the Court, Mr Milingo Lungu of Lungu Simwanza & Company has been appointed as provisional liquidator.

Shareholders of ZCCM-IH are accordingly advised to exercise caution when dealing in securities of the Company until further information is published.

By Order of the Board

Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on 23 May 2019

Lusaka Securities Exchange Sponsoring Broker
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Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 23 May 2019

Chitulungu Basic School in Mungwi District of Northern Province Receives a Water Borehole Sunk by ZCCM-IH.

Drilled at a cost of K80,000, the water borehole sunk at Chitulungu Basic School in Mungwi District of Northern Province is one of the many ZCCM-IH has handed over to Zambian residents in remote areas with little or no access to clean drinking water. This water borehole, expected to provide clean drinking water to over 2,000 residents, is part of the ZCCM-IH ‘Clean Water for Zambia’ Corporate Social Investment (CSI) campaign. The event was graced by His Royal Highness, Paramount Chief Chitimukulu of the Bemba people.

Mopani digs in

MOPANI Copper Mines (MCM) has assured Government that it is in the country for a long haul, allaying fears of the mine stopping its operations in the country.
The mine made the assurance to President Edgar Lungu yesterday when chief executive officer Chris Vermuellen and directors Moses Chilangwa and Emmanuel Mutati met the President during a closed-door meeting at the Bank of Zambia (BoZ) guesthouse in Ndola.https://epaper.daily-mail.co.zm/

Nava Bharat Ventures Ltd. – Update On Maamba Collieries Ltd., Our Zambian Step Down Subsidiary

..70% Receivables realized and Debt down by 25%..

The following perspective is in response to certain enquiries from the investors concerning our step down subsidiary, Maamba Collieries Limited, Zambia (MCL).

MCL has been operating an integrated 300 MW (2X150 MW) coal-fired power plant and selling power under a long term Availability Based Power Purchase Agreement (PPA) with ZESCO, the local Utility.

ZESCO has been effecting part payments on a monthly basis and bulk payments at different intervals, against power purchase from MCL and Investors will be pleased to know that as on March 31, 2019, MCL has already realized over 70% of the total amounts billed since synchronization of the power plant with the Grid.

We are also glad to inform you that MCL is up to date on all its debt service obligations and the long term debt is down by 25%.

Pdf Link: Nava Bharat Ventures Ltd. – Update On Maamba Collieries Ltd., Our Zambian Step Down Subsidiary

Lubambe Mine stimulating Keep Chililabombwe clean campaign-Mayor

Chililabombwe Mayor Christabel Mulala says Lubambe Copper Mines (LCM) is spurring the ‘Keep Chililabombwe Clean Green and Health’ campaign.

Speaking during the cleaning exercise facilitated LCM in Konkola today, Ms Mulala said the Council wants to work with like-minded corporate entities in ensuring the surroundings are clean, green and health.

She said cleaning is the exercise in which every resident must be get involved because cleanliness is life.

The Mayor said LCM promised to make the wheelbarrows, rakes and all cleaning equipment available during the monthly cleaning exercise which happens every last Saturday of the month.

Speaking earlier LCM Chief Executive Officer Nick Bowen said the mining firm was adhering to the Presidential directive of the ‘Keep Zambia Clean, Green and Health’ campaign.

Mr Bowen said the cleaning exercise which incorporated pupils from Konkola Primary School was a good move because it will inculcate the cleanliness attitude in pupils from tender age.

Mr Bowen later donated assorted items to Konkola Primary school, among them the textbooks, paints, cleaning equipment and agents plus plants.

Konkola Head Teacher Joseph Chaila received the donation on behalf of the school.

And in a vote of thanks Esther Chulu one of the pupils applauded LCM for the donation of the textbooks saying it will be easier for pupils to pass well.

She said LCM has been a partner of the school which sponsors pupils to Grade 10 when they do well.

Source: The Independent Observer

Electric Car Era Will Boost Demand for Zambia’s Battery Metals

The advent of the electric car is causing positive impact in the base metal market manifesting in uptick in demand for copper, cobalt and nickel. The likes of BMW, Ford and Tesla will be looking to buy metals in the forward to stock up on inventory to meet future demand. Permanent Secretary in the Mines Ministry in Africa’s copper producer Paul Chanda said Zambia’s mining sector still presents immense investment opportunities despite the current global uncertainty and the macro-backdrop.

Speaking on the sidelines of the Mines and Money conference in New York, Chanda said the sector is poised for growth considering the expression of interest from various investors to invest in other minerals such as manganese, cobalt, and vanadium among others.

ZCCM-IH Acting Chief Executive Officer – Mabvuto Chipata listens to delegates at the
Mines and Money New York’s event.

“Zambia can leverage on and benefit from the growth and development being experienced in the electric car industry. We already have copper, and also battery metals such as manganese and cobalt, and investors have been coming to look for investment opportunities in such”, said Chanda.

Acting CEO of the state mining investment vehicle ZCCM-IH Mabvuto Chipata said the company was exhibiting and participating at the leading international event series for mining investment and capital raising in an effort to position the Company at the center of the mining deals marketplace in New York.

Speaking during a Company spotlight presentation to conference delegates at the event, Mr. Chipata called on potential investors to look to ZCCM-IH as a strategic partner for new mining investments in Zambia.

“Given the current enabling investment climate in the country, we strongly believe that any investor can only stand to leverage and benefit from partnering with ZCCM-IH due to its advantageous and strategic positioning in the mining sector”, Chipata said.

And Permanent Representative of the Republic of Zambia to the United Nations His Excellency, Ambassador Lazarous Kapembwa has called on Zambia to invest in outer space technology in order to enhance mineral exploration, particularly geological mapping of minerals through satellite technology.

The Mines and Money New York’s event is a premier mining investment forum now in its third year, and has brought together more than 300 decision makers, mining executives, investors, financial service providers and mining firms including ZCCM- IH from over 20 countries.

Source: The Business Telegraph

Growth in the Electric Car Industry Boosts Interest in Zambia’s Battery Metals: ZCCM IH

  • ZCCM and Ministry of Mines and Minerals are currently attending the Mines and Money conference and exhibition in New York

Permanent Secretary in the Ministry of Mines and Minerals Development Mr. Paul Chanda says Zambia’s mining sector still presents vast investment opportunities in spite of the domestic and global challenges.

Speaking on the sidelines at the ongoing Mines and Money conference and exhibition in New York, Mr. Chanda said the sector is poised for growth considering the expression of interest from various investors to invest in other minerals such as manganese, cobalt, and vanadium among others.

“Zambia can leverage on and benefit from the growth and development being experienced in the electric car industry. We already have copper, and also battery metals such as manganese and cobalt, and investors have been coming to look for investment opportunities in such”, said Mr. Chanda.

Meanwhile, ZCCM-IH Acting Chief Executive Officer Mabvuto Chipata says the Company is exhibiting and participating at the leading international event series for mining investment and capital raising in an effort to position the Company at the center of the mining deals marketplace in New York.

Speaking during a Company spotlight presentation to conference delegates at the event, Mr. Chipata called on potential investors to look to ZCCM-IH as a strategic partner for new mining investments in Zambia.

“Given the current enabling investment climate in the country, we strongly believe that any investor can only stand to leverage and benefit from partnering with ZCCM-IH due to its advantageous and strategic positioning in the mining sector”, said Mr. Chipata.

And Permanent Representative of the Republic of Zambia to the United Nations His Excellency, Ambassador Lazarous Kapambwe has called on Zambia to invest in outer space technology in order to enhance mineral exploration, particularly geological mapping of minerals through satellite technology.

Mr. Kapambwe said this during a courtesy call paid on him by Mr. Chanda and the ZCCM-IH delegation at the Permanent Mission of Zambia to the United Nations in New York.

“Zambia should take advantage and leverage on the opportunities and services of outer space technology available at the United Nations Office for Outer Space Affairs (UNOOSA). We need to register interest and set-up the necessary infrastructure and policy for us to benefit from this”, said Mr. Kapambwe.

The Mines and Money New York’s event is a premier mining investment forum now in its third year, and has brought together more than 300 decision makers, mining executives, investors, financial service providers and mining firms including ZCCMIH from over 20 countries. Zambia is being represented by a delegation led by the Permanent Secretary in the Ministry of Mines and Minerals Development Mr Paul Chanda, and ZCCM-IH Acting Chief Executive Officer Mr. Mabvuto Chipata.

Source: Financial Insight

Industrial Development Corporation Limited settlement of loan owed to ZCCM Investment Holdings PLC (Updated)

The Shareholders of ZCCM Investment Holdings Plc (“Shareholders”) are referred to the announcement published on the Securities Exchange News Service (“SENS”) by ZCCM-Investments Holdings Plc (“ZCCM-IH” or the “Company”) dated 15th June 2018.

The announcement advised that on 2 April 2018, ZCCM-IH and the Industrial Development Corporation Limited (“IDC”), majority Shareholder, entered into a related party transaction through a Loan Facility Agreement whereby ZCCM-IH advanced a loan amount of US$19,000,000 to the IDC with a maturity period of 12 months.

ZCCM-IH wishes to announce that the IDC has fully settled the principal and interest amounts owed to ZCCM-IH. The payment was made on 2 April 2019 in line with the Loan Facility Agreement between the parties.

By Order of the Board
Chabby Chabala
Company Secretary

Issued in Lusaka, Zambia on Thursday, 25th April 2019

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
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Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on Friday, 15th June 2018

ZCCM-IH Commemorates International Women’s Day by Donating Assorted Household Items to an NGO focused on the underprivileged.

ZCCM-IH joined women all over the world in commemorating International Women’s Day under the theme the “Think Equal, Build Smart, Innovate for Change.” In this spirit, ZCCM-IH was at Divine Mercy Homes of Shantumbu Village in Kafue, to donate various household items valued at a total of K35, 000.

Divine Mercy Homes has set homes, community schools, and clinics around Zambia all providing care, shelter, education, protection, and support to the aged, vulnerable children, and people living with Cancer and HIV/AIDS.