ZCCM-IH

ZCCM-IH News

ZCCM-IH Profit hits K1.48 billion

ZCCM Investment Holdings has recorded K1.48 billion in profit as a result of a surge in copper prices on London Metal Exchange (LME) during the six months ended June 30, 2021. Copper prices on LME recorded an average price of US$ 9,200 per tonne compared to US$5,490 per tonne recorded during the same period in 2020. Company secretary Chabby Chabala said the group’s share of profit in associate companies was K1.48 billion compared to K354.7 million in June 2020.
“The profit was due to profit recorded by investee companies in the copper mining industry, which experienced increased copper prices during this period. The copper prices recorded an average price of US$ 9,200 per tonne compared to US$5,490 per tonne recorded during the same period in 2020,”Mr Chabala said. He said this in the director’s interim unaudited financial results and its subsidiaries for the six months period ended June 30, 2021. ZCCM-IH consists of 10 companies including Mopani Copper Mines Plc, Ndola Lime Company Limited, Kamba Minerals Limited, Misenge Environmental and Technical Services Limited. Others are Mushe Milling Limited, Kabundi Resources Limited, Limestone Resources Limited, Investrust Bank Plc and Zambia Gold Limited. The firm has CLICK TO READ MORE
ZCCM-IH News

ZCCM Investments 1H Profit Boosted by Copper’s 67.6% Jump — Commodity Comment

ZCCM Investments Holdings, formerly known as Zambia Consolidated Copper Mines Ltd., posted a half-year profit of ZMK1.48 billion ($86.67 million) versus ZMK354.7 million in the first half of 2020.

On copper price:

“This was due to profit recorded by investee companies in the copper mining industry which experienced increased copper prices during this period.

“The copper prices recorded an average price of $9,200 per ton compared to $5,490 per ton recorded during the same period in 2020.”

Forecast for copper:

“The group will benefit from the strong copper price outlook for the second half of this year due to falling inventories and rising premiums in the top consumer China.”

Write to Patrick Chu at patrick.chu@wsj.com
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Job Advertisement – September 2021

ZCCM Investments Holdings PLC (ZCCM-IH) is a mining and operations investment holding company with a primary listing on the Lusaka Securities Exchange and secondary listings on the London and Euronext (Paris) Stock Exchanges. ZCCM-IH’s shareholders are the Industrial Development Corporation (IDC) holding 60.3% of the shares, Government of the Republic of Zambia (GRZ) with 17.3%, National Pension Scheme Authority (NAPSA) holding 15% and private investors holding the remaining 7.4%.

ZCCM-IH has the majority of its investments held in the copper mining sector of Zambia. It holds equity investments ranging from 10% to 100% in 22 companies, with diversified interests in mining, energy, and other sectors of the Zambian economy.
The vision of the Company is “to be a world-class investment holding company with a focus on mining”, with a mission to “be a transformative company with an investment agenda that benefits all our stakeholders”. To achieve this vision and mission, the Company invites applications from suitably qualified and experienced staff who are innovative, energetic and performance-driven to fill the following position:

TECHNICAL DIRECTORATE
1. Mining Engineer (x1)
2. Technical Assistant – Mining (x1)

PROCUREMENT DEPARTMENT
1. Procurement Clerk (x1)

INVESTMENTS DIRECTORATE
1. Assistant Portfolio Analyst – Mining Assets (x1)
2. Real Estates Officer – (x1)

CORPORATE AFFAIRS DEPARTMENT
1. Corporate Affairs Officer – Public Relations & Branding (x1)
2. Assistant Corporate Affairs Officer (x1)

ICT DIRECTORATE
1. Network Administrator (X1)

The detailed Job Descriptions for the above positions are attached.

Applications together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than 01st October 2021:
A/Chief Human Resources & Administration Officer

ZCCM-IH Office Park
Stand No. 16806, Alick Nkhata Road
Mass Media Area
LUSAKA

Email: jobs@zccmnew.wpenginepowered.com

Download the full job advert Here: Job Advertisement – September 2021
Industry News, ZCCM-IH, ZCCM-IH News

Zambian president promises to cut deficit, review mining policies

LUSAKA, Sept 10 (Reuters) – Zambian President Hakainde Hichilema said on Friday his new government would implement policies to reduce the fiscal deficit, restore economic growth and review mining policies.

In his first address to a new session of parliament since his election in August, Hichilema said officials would also review agricultural policies, revise electricity prices and reform state power firm Zesco.

Last November Africa’s second-biggest copper producer became the first country on the continent to default on its sovereign debt during the pandemic, after failing to keep up with payments on its nearly $13 billion of international debt.

“Rebuilding our economy is top on our agenda. We will implement policies to address the fiscal deficit while ensuring that confidence is restored in the markets,” Hichilema said.

“We have indeed inherited an economy that is in dire straits and requires bold and decisive action to be taken,” he said, adding that his government was committed to halting the accumulation of expensive public debt.

Zambia’s external debt includes about $3 billion in Eurobonds, $3.5 billion in bilateral debt, $2.1 billion owed to multilateral agencies and $2.9 billion in commercial bank debt.

Zambia also owes mining companies more than $1.5 billion in value-added tax (VAT) refunds, an issue that soured relations between the government and the mining sector. read more

The VAT refunds are the top priority for the industry, said Zambia’s Chamber of Mines CEO Godwin Beene, who represents mining companies including First Quantum Minerals’ Kansanshi Mining and Barrick Gold’s Lumwana Mining.

‘GAME-CHANGER’ FOR MINING COMPANIES

Hichilema’s market-friendly stance will attract new investment into Zambia’s mining sector and help boost the country’s copper production at a propitious time of near record-high copper prices, Beene said.

“This election was a game-changer for the industry,” he told Reuters.

Hichilema’s predecessor, Edgar Lungu, had pushed for greater state ownership of mines. State mining investment company ZCCM-IH took on $1.5 billion in debt in January to take over Glencore’s majority stake in the Mopani copper mine.

The previous government was looking for an investor to fund the mine’s expansion, which would boost output from 34,000 tonnes of copper a year to 150,000 tonnes.

Zambia as a whole hopes to increase its annual copper output to 2 million tonnes by 2026, new finance minister Situmbeko Musokotwane said last month. The country produced 882,000 tonnes last year.

Hitting that target will require significant investment in Mopani and other mines across Zambia, as well as in exploration.

Reporting by Chris Mfula; Additional reporting by Helen Reid; Writing by Alexander Winning and MacDonald Dzirutwe; Editing by Edmund Blair and Gareth Jones

Our Standards: The Thomson Reuters Trust Principles.
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Zambia Gold Company Limited (ZGCL) Job Advertisement 1st September 2021

The Zambia Gold Company Limited (ZGCL) was established in 2020, with the main objective of formalising and developing the gold sub-sector in the country. The shareholders of the company are the ZCCM Investments Holding (ZCCM-IH) with 51 per cent and the Government of the Republic of Zambia through the Ministry of Finance with 49 per cent. The Company has been working towards turning the gold sub-sector into a commercially viable one, which will not only benefit the investors but also all other relevant stakeholders.

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

1. Assistant Accountant-Payables X 1 

Location         :           Lusaka                                              
Department  :           Finance
Report to        :           Accountant
Head of Dept :        Head Finance
Job Purpose

To provide support to the Accountant and wider finance team by helping to prepare and maintain accurate financial records, processing of invoices and payments, assisting in the preparation and submission of statutory returns for ZRA, NAPSA and other applicable regulators.

Main Duties

  1. Raising of payments and petty cash vouchers for processing after inspecting and verifying support documents such as invoices, delivery notes and receipts.
  2. Posting of transactions and payments in the accounting system to the respective ledger accounts.
  3. Assist in the monthly preparation and submission of statutory returns for ZRA, NAPSA and other regulators.
  4. Maintain complete and accurate filing system to support safe retention of all Company financial records.
  5. Assist in the preparation of payroll for all employees.
  6. Maintain an accurate and up-to-date cashbook on a daily basis.
  7. Maintain an accurate and up-to-date petty cash float system.
  8. Reconciliation of supplier accounts at the end of the month.
  9. Monitoring and timely reconciliation of imprest advanced to employees.
  10. Any other duties as assigned by the Supervisor

Qualifications and experience

  1. a) Professional Qualifications
    • Full Grade12 Certificate or its equivalent
    • Diploma in Accountancy or Finance, ACCA level 2, ZICA Licentiate, CIMA level 2 or its equivalent.   
  2. b) Minimum Relevant Job Experience:
    •  3 years of work experience in a similar position.
  3. c) Skill Specifications:
    • Good numerical and analytical skills
    • Good communication skills both written and spoken
    • Excellent computer skills
    • Interpersonal skills
  4. d) Other Attributes (Personality Traits)
    • Integrity and Confidentiality
    • Autonomy
    • Honesty
    • Result oriented
    • Pleasant personality

2. Assistant Accountant – Receivables and Reconciliations X1

Location         :           Lusaka                                         
Department   :           Finance 
Report to        :           Accountant
Head of Dept :           Head Finance
Job Purpose

 To provide support to the Accountant and wider finance team by updating and maintaining accurate financial records as well as preparation of management reports for both internal and external purposes.

Main duties

  1. Posting of sales transactions as well as other receipts for the Company on the Accounting package.
  2. Preparation of all sales invoices for the Company.
  3. Maintenance and follow-up on outstanding Company receivables.
  4. Assist in the maintenance of an accurate fixed assets register.
  5. Assist in the reconciliation of all balance sheet accounts on a monthly basis
  6. Assist in the preparation of the monthly management accounts.
  7. Assist in the preparation of annual financial statements for the Company.
  8. Prepare all manual journal entries on a monthly basis.
  9. Assist with provision of support documentation requested for by the Company external auditors as well as other stakeholders.
  10. Any other duties as assigned by the Supervisor.

Qualifications and experience

  1. a) Professional Qualifications
    • Full Grade12 Certificate or its equivalent
    • Diploma in Accountancy or Finance, ACCA level 2, ZICA Licentiate, CIMA level 2 or its equivalent.
  1. b) Minimum Relevant Job Experience:
    • 3 years of work experience in a similar position.
  1. c) Skill Specifications:
    • Good numerical and analytical skills
    • Good communication skills both written and spoken
    • Excellent computer skills
    • Interpersonal skills  
  1. d) Other Attributes (Personality Traits)
    • Integrity and Confidentiality
    • Autonomy
    • Honesty
    • Result oriented

ZGCL provides equal employment opportunities to all Zambians on merit.

Interested suitably qualified and experienced individuals should send their application letters, together with certified copies of academic and professional certificates, a detailed curriculum vitae with traceable references, and copy of the NRC to the undersigned not later than Friday, 10th September, 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:  JobsZamGold@zccmnew.wpenginepowered.com

Download the document here: Advertisement 1 September 2021
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Invitation for Bids – HFO

LIMESTONE RESOURCES LIMITED

Incorporated in the Republic of Zambia

Invitation for Bids (IFB)

Supply and Delivery of Heavy Fuel Oil (HFO) to Limestone Resources Limited of Ndola, Copperbelt Province

ONB No.: LRL/001/2021

  1. Limestone Resources Limited (LRL) using financing from own sources (budgeted LRL Operating Expenditure (OPEX) for the 2021 Financial Year), intends to apply part of the funds for payments under the Contract for the Supply and Delivery of Heavy Fuel Oils (HFO) to Limestone Resources Limited of Ndola, Copperbelt Province; Contract: LRL/001/2021.
  2. Limestone Resources Limited “LRL” is a ZCCM Investments Holdings Plc (ZCCM-IH) wholly-owned subsidiary and is located in Ndola District, Copperbelt Province.
  3. It is against this background that Limestone Resources Limited now invites sealed bids from eligible and qualified bidders for the Supply and Delivery of HFO to Limestone Resources Limited of Ndola, Copperbelt Province; Contract No.: LRL/001/2021. The HFO to be delivered to Limestone Resources Limited of Ndola, Copperbelt Province.
  4. Bidding will be conducted through the Open National Bidding (ONB) procedures specified in the Public Procurement Act of 2008 and the Public Procurement Regulations of 2011 and is open to all bidders from Eligible Source Countries as defined in the Bidding Documents. The following CEEC preferential treatment shall be applied as part of the evaluation:

4.1 Citizen-influenced company – 4%

4.2 Citizen-empowered company – 8%

4.3 Citizen-owned company – 12%

  1. Interested eligible bidders may obtain further information from the address below and inspect the Bidding Documents at this address from 08:00 – 13:00 and 14:00 – 17:00 local time, Monday to Friday
  2. Qualifications requirements include:

(a)   Financial Capability.

The Bidder shall furnish documentary evidence that it meets the following financial requirement(s):

      1. A minimum amount of liquid assets and/or credit facilities of ZMW1,760,000.00

(b)     Experience and Technical Capacity.

The Bidder shall furnish documentary evidence to demonstrate that it meets the following experience requirement(s): Carried out at least two (02) contracts of a similar nature and scope in last one (01) year.

  1. A complete set of Bidding Documents in English may be purchased by interested bidders ON THE SUBMISSION OF A WRITTEN APPLICATION to the address below and upon payment of a non-refundable fee of Zambian Kwacha Five Hundred (ZMW500.00). The method of payment will be through bank transfer.

          Account type: CORPORATE CURRENT ACCOUNT.

          Account currency: ZMW – ZAMBIAN KWACHA.

          Sort code: 040103 BANK STATEMENT / TAX INVOICE

          Account number: 9130004314402

 

  1. The address referred to above is:

Head of Procurement
Limestone Resources Limited
P.O. Box 70057, Plot 1523
Depot Road Cleveland Park
Ndola, Zambia  

E-mail: ASakala@lrl.co.zm

  1. Bids must be delivered to the address below at or before 10:00 hours on Thursday, 06th September 2021. Electronic bidding shall not be permitted. Late bids will be rejected. Bids will be opened physically in the presence of the bidders’ representatives who choose to attend in person at the address below immediately after 10:00 hours on 06h September 2021. All bids must be accompanied by a Bid Securing Declaration.
  2. The address referred to in clause 8 is:

Head of Procurement
Limestone Resources Limited
P.O. Box 70057, Plot 1523
Depot Road Cleveland Park
Ndola, Zambia  

E-mail: ASakala@lrl.co.zm