FQM’s Kansanshi mine hands over K1.2m cheques to six Solwezi cooperatives

First Quantum Minerals’ Kansanshi Mining PLC has handed over cheques amounting to K 1.2 million to six cooperatives engaged in various business activities, each receiving K 200,000 in a continued effort to support and improve the welfare and livelihood of communities in Solwezi.

The mining firm is alive of the fact that Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in rural communities, however, access to finance is a key constraint to SME growth, and it is one of the most cited obstacles that they are faced with.

The additional funding of K 1.2 million follows the initial K 756,000 given to the six groups in February earlier this year, with each having received K 126,000 to help kick-start their business activities around the District.

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Source : Mining News Zambia

Zambia in Top 10 mining countries of the world

The mining industry is a key player in the global economy, providing essential raw materials that fuel various industries and contribute to economic growth. From precious metals to fossil fuels, minerals extracted from the earth’s crust are integral to manufacturing, construction, energy production, and technological advancements. In this article, we delve into the top 20 mining countries in the world, exploring their mineral wealth, production capabilities, and the significant role they play in shaping the global mining landscape.

Mining has been an essential human activity for centuries, driving exploration and extraction in pursuit of valuable resources. Today, mining operations span across continents, with countries harnessing their geological advantages to access and utilize mineral reserves. These resources serve as the backbone of industrial development, enabling nations to meet domestic demands, stimulate exports, and foster economic prosperity.


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Source: Insider Monkey

FQM consolidates its Kansanshi mining operations in readiness for the S3 expansion

First Quantum Minerals will consolidate the Road and Earthworks Division, Mining Divisions and related supporting services currently carried out by First Quantum Mining Operations Limited (FQMO) with the operations at Kansanshi Mining Plc (KMP).

FQMO was the original First Quantum Minerals corporate entity in Zambia which operated the Bwana Mkubwa mine. Following the expansion of the First Quantum operations in Zambia, with both the Kansanshi and Sentinel mines, FQMO evolved to house a wide range of business functions to support these operations including mining, road and earthworks, exploration, corporate services, CSR, community health and other services….


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Source: Lusaka Times

Job Advertisement: Manager Strategy


ZCCM Investments Holding Plc

Incorporated in the Republic of Zambia



ZCCM Investments Holdings PLC is an investments holdings company with diversified interests in mining, energy and other sectors of the Zambian economy. The Company’s majority shareholder is the Industrial Development Corporation Ltd (IDC), an investment company wholly owned by the Zambian Government and the rest of the shareholders are institutional and private shareholders spread across the world.

The mission of the Company is “To be a transformative company with an investment agenda that benefits all our stakeholders”.    


The Company invites applications from suitably qualified and experienced persons who are innovative, energetic and performance driven to fill the following vacancy:


Table: Vacancy(s) 

Manager Strategy      Executive Office ZH3 1 Fixed Term Contract   Lusaka 




Application clearly marked ‘MANAGER STRATEGY together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than Wednesday 21st June 2023.


Women are strongly encouraged to apply. 

Only shortlisted candidates will be communicated to.





Chief Human Resource & Administration Officer  

ZCCM Investments Holdings Plc

ZCCM IH Office Park, Alick Nkhata Road

P O Box 30040





Visit the ZCCM-IH Career page for this job advertisement at http://www.zccmih.com.zm/careers

Alternatively, forward your applications to: jobs@zccmnew.wpenginepowered.com



Please refer to the links below for detailed information about the positions 





Job Advertisement: Internal Audit Manager, Risk Officer


Limestone Resources Limited (LRL) is one of the major producers and suppliers of Quicklime, Hydrated lime, and Limestone aggregates within the country and to the regional markets. LRL is wholly owned by ZCCM Investments Holdings Plc (ZCCM-IH). The majority shares of ZCCM-IH are held by the Industrial Development Corporation (IDC) which is wholly owned by the Government of the Republic of Zambia (GRZ).

LRL production facilities include a Quarry, fixed and mobile Crushing Plants, two (02) Vertical Kilns (Old and New), a Rotary Kiln, New Hydrating Plant, Coal/Quicklime Milling Plant, a Packaging and Bagging plant with associated support infrastructure.



The plant is 12km road distance from the Ndola Central Business District, and 7km road connection to the Great North Road at ZESCO Skyways Substation. The address for Limestone Resources Limited is at Cleveland Park, plot No. 1523, Depot Road, P.O. Box 70057, Ndola.


The Company invites applications from suitably qualified and experienced persons who are innovative, energetic and performance driven to fill the positions of:

  1. Internal Audit Manager
  2. Risk Officer

Duty Station: Limestone Resources Limited, Copperbelt, Ndola.

Applications clearly marked Internal Audit Manager’ and ‘Risk Officer’ together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than Monday, 12th June 2023

Only successful candidates will be communicated.

Women are strongly encouraged to apply.



Chief Human Resource & Administration Officer 

ZCCM Investments Holdings Plc

ZCCM IH Office Park, Alick Nkhata Road

P O Box 30040




Visit the ZCCM-IH Career page for this job advertisement at http://zccm-ih.com.zm/careers

Alternatively, forward your applications to: jobs@zccmnew.wpenginepowered.com

ZCCM-IH/HRD/Vacancy Announcements


Please refer to the links below for detailed information about the positions


JOB DESCRIPTION - RISK OFFICER 169.53 KB 1613 downloads





Chibuluma Copper Mine Compensates and Relocates Families Affected by Pollution

Lufwanyama’s Chibuluma copper mine company in Copperbelt Province has compensated 42 families affected by pollution from its tailing dams. Benedict Mulenga, the Manager in charge of social services at Chibuluma mine, confirmed this during a joint inspection of the company’s infrastructure provided for the affected households.

Ms. Mulenga stated that the mining company has spent a total of K8 million on compensating the affected families. Monetary compensation was provided to the victims, and 42 housing units have been constructed for their relocation to a safer place. The housing units, located in Chief Nkana’s area, are at a completion level of 95% and vary in size from one to three bedrooms.

She assured that the relocation of all the families to the new site will take place soon. This action follows a government directive to Chibuluma mine, instructing them to compensate and relocate residents living near the mine’s danger zone. The directive was issued after the discovery that the particles in the dust from the mine’s tailing dams, which have been in existence for over 20 years, pose a health risk and can cause severe respiratory conditions if inhaled.

Lufwanyama District Commissioner Justin Mwalikwa commended Chibuluma mine for adhering to the government’s directive. He expressed satisfaction with the quality of the houses, water, and sanitary facilities that the mine has provided for the victims. Annie Kapandula, the Lufwanyama District Council Chairperson, urged the beneficiaries not to sell their new houses and to protect them diligently. She also assured them that the local authority would make efforts to ensure that all occupants receive title deeds for their new properties.



Source: Lusaka Times

CEC records 3% increase in amounts of power sold in 2022

THE Copperbelt Energy Corporation (CEC) has described its business performance in 2022 as “generally well”. CEC Managing Director Owen Silavwe says the corporation saw a 3 percent increase in the amount of power it sold last year. Addressing the media, Friday, Silavwe said although the 3 percent was a modest growth, it was good for a mature business like CEC. “We believe as a company that we performed generally well in 2022. And when we talk about performance, one of our key priorities, and we would like to start with how we are performing from a safety perspective. And for us, we look at that holistically; so we look at health, safety, environmental and social.  And when you look at……


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Source: News Diggers

Stock Performance Review – Listings Review for First Quarter of 2023

The first quarter of 2023 saw ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) stocks underperform by a 21.14% average when compared to the Markets on which it is listed. ZCCM-IH has its primary listing on the Lusaka Securities Exchange (“LuSE”), and secondary listings on the Euronext Access in Paris, and the London Stock Exchange (“LSE”). 


The Table below shows the Company’s stock performance on the three (3) listings:

ZCCM Investments Holdings Plc

Quarterly Stock Performance (Q1 2023)

Stock Exchange

Opening Price

Closing Price



Trade Volume








(Stock Units)




ZMW 37.98

ZMW 37.98

ZMW 0.00




ZMW 127,992.60

Euronext Access

EUR 1.48

EUR 1.27

-EUR 0.21




EUR 194,944.00


USD 1.65

USD 1.65

USD 0.00


USD 0.00


  1. LuSE Stock Performance Review

Share price on the LuSE opened and closed at ZMW37.98 (USD1.77) per share, which was also the high and the low for the quarter, representing a 0.00% change in share price for the period. 3,370 shares exchanged hands in 26 trades for a turnover of ZMW127,992.60 (USD5,980.90).

The LuSE All Share Index (“LASI” or “the Market”) shows that the Market was up by 6.83% as at the end of the quarter. When compared to the movement of the Market during the period, ZCCM-IH stock value trading on the LuSE underperformed by 6.83%, having not appreciated in value, while the market moved up by the latter percentage.

Market capitalisation for LuSE traded ZCCM-IH stock stood at ZMW5,692,746,809.70 (approximately ZMW5.7 billion or USD266 million) as at the end of the period. Note that the exchange rate used is at the conclusion of trade for the period.


  1. Euronext Access Stock Performance Review

On the Euronext Access, the shares opened trade for the period at EUR1.48 (USD1.61) per share, which was also the peak for the period. Despite a low of EUR1.22 (USD1.33), Euronext Access stock ended the quarter trading at EUR1.27 (USD1.38) representing an overall 14.19% decrease in share value over the period under review. A total of 145,712 shares were traded in 239 transactions for a turnover of EUR194,944.00 (USD211,937.27).

The Cotation Assistée en Continu All Shares Index (“CAC All Shares” or “the Market”) shows that the market went up 13.39% as at the end of the quarter. When compared to the movement of the CAC All Shares Index during the period, ZCCM-IH stocks listed on this exchange underperformed by 27.58%. The 27.58% difference is accounted for by the ZCCM-IH shares having decreased in value by 14.19% while the Market appreciated by 13.39%.

Market capitalisation on ZCCM-IH stock trading on the Euronext Access stood at EUR13,486,862.79 (approximately EUR13.5 million or USD14.68 million) as at close of trade on the last day of the quarter. Note that the exchange rate used is at the conclusion of trade for the period.


  1. LSE Stock Performance Review

ZCCM-IH stock on the LSE opened and closed the quarter at USD1.65 per share. This represents a 0.00% change in share price for the period. USD1.65 was also the high and the low for the quarter during which no shares were traded.

The Financial Times Stock Exchange All Shares Index (“FTSE All Shares” or “the Market”) shows that the market went up by 0.64% as at the end of the quarter. When compared to the movement of the FTSE All Shares Index during the period, ZCCM-IH stocks trading on the LSE underperformed by 0.64%, having not appreciated in value, while the market moved up by 0.64% over the same period.

Market capitalisation for LSE traded stock stood at USD482,945.10 (approximately USD0.48 million) as at the end of the period.

Industry News – Zambian Copper and Cobalt to Drive the Global Shift to Electric Vehicles

The need to reduce global greenhouse gas emission levels inspired the European Union (“EU”) to declare a ban on the sale of new petrol and diesel fueled vehicles. This will be effective 2035, after which only vehicles powered by electricity stored in batteries will be offered on the European market.

Zambia is the sixth largest copper producer in the world, holds the second largest cobalt reserves, and has ore mineralization of lithium, manganese, nickel, and graphite, all minerals critical for the Electric Vehicle (“EV”) battery industry. 

The Government of the Republic of Zambia (“GRZ”) is already positioning itself to take advantage of the anticipated global demand for copper and cobalt, as well as the bullish EV battery market. Here is how:


Increasing Copper Output

In 2022 the Government of the Republic of Zambia (“GRZ” or the “Government”) set a national annual copper production target of 3 million metric tonnes to be achieved starting 2031. The 275% increase in annual production from the current 800,000 tonnes will be achieved by expanding output at existing mines and opening up of greenfield projects.

Since the current Government came into power in 2021, First Quantum Minerals (“FQM”) pledged a USD1.25 billion investment to expand operations at Kansanshi Mining Plc (“KMP”). ZCCM-IH in partnership with EMR Capital and KoBold are also in the process of setting up a new copper mine in the next 10 years Mingomba Mine whose detailed exploration works using AI technology commenced during the quarter, will sit on one of the richest ore bodies in the world with an estimated 247 Metric Tonnes (“MTs”) of ore with average grade of 3.64% copper according to the Lubambe Extension Project study.


Revisions to Taxation on Mining to Boost Investment

The first significant revision by the Government to the country’s mining tax regime was to introduce the deductibility of the Mineral Royalty Tax (“MRT”) payments. Previously, MRT was non-deductible which was widely viewed by mining companies as double taxation.

Non-deductibility of MRT meant that mining companies had to pay MRT on revenue in addition to income tax from profits. This resulted in decreased output, as well as an overall decrease in investment by new entrants into Zambia’s mining sector, and reinvestment by mining entities already operating in the country. This is no longer the case, as evidenced by reinvestments in KMP, as well as the USD150 million investment to develop Mingomba Mine among others.


Value Addition to Minerals Used in EV Battery Production.

Zambia is Africa’s second largest producer of both copper and cobalt, eclipsed by the Democratic Republic of Congo (“DRC”) which accounts for 70% of global cobalt production. In spite of this, both countries are considered among the least developed, and continue to export raw metals critical for the EVs industry. To change this narrative, both Zambia and the DRC signed a Memorandum of Understanding (“MoU”) with the United States of America (“USA”) to jointly develop manufacturing plants that will increase their involvement in the global supply chain for EV batteries. 

In addition to the extraction of raw materials needed to produce EV batteries, both countries will be involved in processing, manufacturing, and the assembly of EV batteries and battery components for export. By engaging in the refining of and value addition of minerals extracted to produce EV batteries and battery components, both countries will yield significantly greater economic benefit from their copper and cobalt deposits.


Expected Outcomes for Zambia

Investment in mining, increased commodity output, and value addition to commodities will put Zambia on the path to economic recovery. This is cemented by analyst predictions of copper prices settling around the USD9,000 per tonne mark in the near future, gradually increasing amid widening supply and demand deficits over time.

In time, the country itself will abandon fossil fueled internal combustion engines and shift to using EVs.

Company News – ZCCM-IH Pays ZMW85.2 Million (USD4.43 Million) Dividend to Shareholders

ZCCM Investments Holdings (“ZCCM-IH” or “the Company”) on Monday 6 February 2023 commenced distribution of ZMW85.2 million (USD4.43 million) or ZMW0.53 per share being a total final dividend payable to shareholders for the financial year ended 31 December 2020. This was approved by the company’s shareholders at the 18th Annual General Meeting held on 9th December 2022.

The dividend paid was as a result of a Group profit of ZMW2.1 billion (USD109 million), and a Company profit of ZMW568 million (USD29.5 million) recorded for financial year ended 31 December 2020. A Group profit of ZMW307 million (USD15.98 million) and a Company profit of ZMW153 million (USD7.96 million) were recorded the year prior, representing a 594% and 271% increase in profit respectively.


Profit Recorded at Group Level was on account of a 70% increase in the value of dividends received due to improvements in the performance of investee companies. Additionally, two companies paid dividend during the period, as opposed to the year prior where one dividend payment was received by the Company.

Due to favorable copper prices of USD6,200 per ton recorded in 2020, a 3% increase from the USD6,000 per ton recorded in 2019, investee company share of profit on equity increased by 254% during the period.

Total Group assets also increased with value going from ZMW15.2 billion (USD790 million) in 2019 to ZMW 23.7 billion (USD1.2 billion) by the conclusion of 2020. This 55.9% increase was on account of a 63% increase in investment of associates, and a 219% increase in Cash and Cash equivalents resulting from a receipt of ZMW208 million (USD10.8 million) in dividends in 2020.

Further, the Group recorded a 95% increase in retained earnings during the period under review. This increased from ZMW2.1 billion (USD109 million) in 2019 to ZMW4.2 billion (USD218 million) in 2020.


Profit Recorded at Company Level was attributed to a recorded income of K226 million (USD11.75 million) for the year, a growth of 32% when compared to ZMW171 million (USD8.89 million) recorded the year prior.

With most assets being denominated in USD, some gains achieved were a result of the significant depreciation of the Kwacha against the United States Dollar. The years under review saw an average increase of 40.9% in exchange rate gains, with the average rate increasing from ZMW13.2/USD in 2019 to ZMW18.6/USD in 2020.

Retained earnings at Company level also increased, with ZMW1.5 billion (USD78 million) recorded for 2020 from ZMW978 million (USD50.9 million) recorded the year prior, a 53% increase.


Payment of Dividends by ZCCM-IH to its Shareholders is governed by the Company’s Dividend Policy as amended on 29th March 2018. The ZCCM-IH Dividend Policy stipulates that a minimum of 35% of the unconsolidated Net Profit after Tax (“NPAT”) for any financial year in which a positive unconsolidated NPAT is recorded be paid to its shareholders as dividends.

The ZMW85.2 million (USD4.43 million) dividend paid constitutes 37.7% of NPAT and is the fifth consecutive year reported that the Company has declared a dividend for a return on investment to our shareholders.  


To access the Company’s Strategic Plan, kindly click the following link: https://zccm-ih.financifi.com/download/2018-2023-strategic-plan/ 

Note, all USD conversions are as at the closing rate on 6 February 2023 when dividend payment commenced.