Distorted Information_Kansanshi Royalty Vs FQM Group Results
ZCCM-IH- Transaction Completion Announcement-Mopani Copper Mines
Shareholders are referred to the announcements ZCCM-IH released on the Stock Exchange News Service (“SENS”) of the Lusaka Securities Exchange (“LUSE”) on 10th November 2023, 30 November 2023, 22 December 2023, 1 February 2024 and 23 February 2024 regarding the up to US$1.1 billion capital investment by International Resources Holding RSC Ltd (“IRH”), through its wholly-owned subsidiary, Delta Mining Limited (“Delta”), for a 51% interest in Mopani Copper Mines plc (“MCM”) and the formation of a strategic partnership with ZCCM-IH. The investment will comprise US$620 million in new equity capital, up to US$100 million in settlement of existing third-party letters of credit and up to US$380 million of shareholder loans (the “Transaction”). The Company distributed a Transaction circular (the “Circular”) on 2 February 2024 incorporating a notice of Extraordinary General Meeting (“EGM”) to consider the Transaction. The Board of Directors of ZCCM-IH (the “Board”) is pleased to provide a further update in relation to the Transaction
ZCCM-IH Shareholders Unanimously Approve the Mopani Copper Mines Transaction
ZCCM INVESTMENTS HOLDINGS PLC
Investing SMARTLY
PRESS STATEMENT FOR IMMEDIATE RELEASE
ZCCM-IH Shareholders Unanimously Approve the Mopani Copper Mines Transaction
26th February 2024,
Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) shareholders have unanimously approved the Mopani Copper Mines Plc (Mopani) transaction where Delta Mining Limited (Delta), a subsidiary of International Resource Holdings (IRH), has agreed to acquire a 51% shareholding in Mopani for a total investment of up to US$1.1 billion.
The approval was given at the Shareholder’s Extraordinary General Meeting (EGM) held in
Lusaka on 23rd February 2024.
ZCCM-IH will retain 49% shares in Mopani, with 3 out of 9 board seats (5 by Delta and 1 by GRZ), and thus continue to participate in the governance of Mopani and have full visibility of its operations.
Speaking after the EGM, ZCCM-IH Board Chairperson stated that “the transaction is a landmark achievement that delivers significant value to ZCCM-IH, Mopani, and the Zambian people, as it unlocks the long-term sustainability of Mopani operations, which contributes to the revitalisation of the Copperbelt”.
“It’s pleasing to note that IRH has committed to retain Zambian workers, including the management team, who will be complimented by new skills and expertise from Delta to facilitate the expansion of MCM production to 200, 000 tonnes per annum”, remarked Mr Muyangwa.
IRH have already proved their commitment by providing interim funding of $130m, before they take over, that has allowed continued payment to suppliers and contractors.
Further, ZCCM-IH Board Director Mr Phillippe Taussac who represents minority shareholders said that “the extinguishing of the Mopani $1.5billion debt that ZCCM-IH had guaranteed, will certainly lead to significant improved financial performance for all ZCCM-IH’s shareholders”. Mr Taussac expressed happiness that ZCCM-IH now has a strong long-term strategic equity partner in Mopani, whilst remaining a significant shareholder in the company”.
This transaction represents a major step for Zambia’s copper mining industry towards the
achievement of the country’s 3 million metric tonnes of copper production per annum by 2030.
Following the announcement of the transaction, the markets have responded positively with increased activity and share price appreciation. On the Lusaka Securities Exchange ZCCM-IH shares soared by 11.9% from K42 to K47 per share.
End
Issued by:
ORIGINAL SIGNED
Loisa Mbatha
Corporate Affairs Manager ZCCM Investments Holdings Plc loisa.mbatha@zccmnew.wpenginepowered.com
NOTE TO THE EDITOR:
SUMMARY OF SOME KEY TERMS OF THE TRANSACTION
Key Financial Terms:
Equity Component: US$620m
- US$220m is payable at closing;
- US$130m already advanced via interim financing shall be converted into equity
- US$19m will be used to repay a portion of ZCCM-IH’s shareholderloan
- The remaining US$71m will be used as working capital
- US$400m will be allocated towards funding MCM’s project development plan and is payable as and when the funding is required
Loan Component: US$400m
On closing, Delta will provide MCM with a loan of US$400m which will be used to settle all existing Glencore debt (2021 transaction debt and LCs)
- The net result is a reduction in MCM’s debt burden by US$1.4bn
- ZCCM-IH’s guarantee over Glencore’s debt will be releasedFurther loans of up to US$88m may be made available to MCM as shareholder loans, if required, based on the future working capital requirements
Significantly improved financial performance for ZCCM-IH’s shareholders
Line item
Before
Pro Forma Adjustments
After
%change
Earnings Per Share (EPS) (ZMW)
(23.54)
92.37
68.83
392.4%
Headline Earnings Per Share (HEPS) (ZMW)
(23.54)
55.27
31.72
234.8%
Net Asset Value (NAV) per share (ZMW)
49.18
94.23
143.42
191.6%
- Renewal of GRZ’s golden share and one board seat.
ZCCM-IH Has Not Lost Control of Kasenseli Gold Mine
14th February 2024, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) would like to dismiss allegations that the Company has lost control of Kasenseli Gold Mine as reported in some sections of media houses.
The resumption of mining operations at Kasenseli Gold mine is imminent following the amicable resolution of disputes raised by one of the Kasenseli Gold Company Limited shareholders (Kampoko Resources Ltd) and Chief Chibwika’s agreement to grant the consent to mine.
ZCCM-IH hereby refutes the unsubstantiated reports that it has lost control of its stake in Mwinilunga’ s Kasenseli Mine which comprises of two mining pits, and that it has failed to pay a revenue share to PCB Mining Ltd as being inaccurate. The PCB matter is actively before the Courts of Law and there is no determination on the merits of the case in the Court of Appeal.
ZCCM-IH continues to engage with all stakeholders inclusive of PCB who are currently involved in discussions to settle the disputes, and to operationalise the Kasenseli Mine as per ZCCM-IH’s mandate, for the benefit of the people of Mwinilunga and the Zambian people at large.
ZCCM-IH donates K1 million towards the fight against cholera
ZCCM Investments Holdings (ZCCM-IH) has donated K1 million to the Ministry of Health towards the provision of essential food supplies at cholera treatment centres.
ZCCM-IH CEO, Dr Ndoba Vibetti, handed over the cheque to the Ministry of Health, which was received by the Minister of Health Hon. Sylvia Masebo this afternoon.
In his speech during the handover, Dr Vibetti said the amount is targeted at meeting the nutritional needs of both patients and health workers at cholera treatment centres. He added that, “Proper nutrition is integral to the effectiveness of medical treatments. By ensuring that cholera patients receive nutritious meals, we can contribute to improved treatment outcomes, faster recovery times, and a reduced burden on the healthcare system.”
Receiving the cheque on behalf of the Ministry, Hon. Sylvia Masebo expressed gratitude and gave assurance that the donation will go towards its intended purpose. “Our patients and staff at the treatment centres receive a good diet because of support such as this. Good nutrition is important to us. This will go a long way in combating the scourge,” said Hon. Masebo.
ZCCM-IH commended the Ministry and all the frontline workers for their tireless efforts in overcoming this public health challenge. Watch the donation handover ceremony here
NOTICE_OF_BEST_EVALUATED_BIDDER – PROVISION OF SECURITY SERVICES AT ZCCM-IH FACILITIES
Notice of the Best Evaluated Bidder
The Procurement Committee has authorised to award the contract for the procurement requirement to the “best evaluated bidder” as detailed below. It is the intention of the Procuring Entity to place a contract with the named bidder after ten (10) working days from the date of display given below.
| Procurement Reference Number: | ZCCM-IH/036/2023 |
| Procurement Description: | Provision of Security Services to ZCCM-IH Facilities |
| Lot Awarded | Lot No. I – Provision of Security services at ZCCM-IH Office Park, 30B Kudu Road in Kabulonga, and Village Villas in Roma Park, Lusaka. |
| Method of Procurement: | Open National Bidding (ONB) |
| Name of Best Evaluated Bidder: | Arm-Safety Security Company Limited |
| Address of the Best Evaluated Bidder: | P.O Box 33827 Plot No. 11463/2 Mwalule Road, Northmead, Lusaka, Zambia. |
| Proposed Contract Price: | ZMW 572,976.00 VAT Incl. |
| Lot Awarded | Lot No. 2 – Provision of Security Services at Investments House, Kitwe; Technical Library and Mawe Complex in Kalulushi. |
| Method of Procurement: | Open National Bidding (ONB) |
| Name of Best Evaluated Bidder: | Rondy Logistics and security Services Limited |
| Address of the Best Evaluated Bidder:
| Plot No. 1794, Off Freedom Avenue, Mwandi Crescent, Riverside, Plot 17, Obote Avenue, 1st Floor Room 24, Kitwe Chambers Building P.O Box 21879 Kitwe, Zambia |
| Proposed Contract Price: | ZMW1,090,800.00 VAT Incl. |
| Lot Awarded | Lot No. 3 – Provision of Security Services at Kabwe Offices & Laboratory in Kabwe. |
| Name of Best Evaluated Bidder: | Rondy Logistics and security Services Limited |
| Address of the Best Evaluated Bidder: | Plot No. 1794, Off Freedom Avenue, Mwandi Crescent, Riverside, Plot 17, Obote Avenue, 1st Floor Room 24, Kitwe Chambers Building P.O Box 21879 Kitwe, Zambia |
| Proposed Contract Price: | ZMW153,600.00VAT Incl. |
| Date Notification Issued | Monday, 20th November 2023 |
| Date for End of Notification Period: | Friday, 1st December 2023 |
Kindly note that this Notice does not constitute an award of contract to the bidder mentioned above. Bid acceptance and contract placement shall be in accordance with Part X of the Public Procurement Regulations.
Bidders have the right to appeal against the proposed award in accordance with Section 70 of the Public Procurement Act and Section 170 to 172 of the Regulations, provided the appeal is made within ten (10) days of the date of this notice.
ZCCM-IH Shareholders to Receive a K724 million Dividend Payout as the Company Records a Total of K5.94 billion in Company Profit
02nd October 2023, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) shareholders during the Company’s nineteenth (19th) Annual General Meeting (AGM) held on Friday, 29th September 2023, approved combined dividends totalling K724 million for the financial years ended 31 December 2022 and 31 December 2021. Government will get over half a billion Kwacha (K562 million) from this amount through the Industrial Development Corporation (K437 million) and the Ministry of Finance and National Planning (K125 million).
A total of K387.23 million and K336.07 million was approved for the year ended 31 December 2022 and 31 December 2021 respectively. This follows a Company profit of ZMW4.26 billion and ZMW1.68 billion recorded for the years ended 31 December 2022 and 31 December 2021 respectively. This represents a year-on-year increase in profits of 154% (2022) and149% (2021). The improved performance at Company level is attributed to an increased quantum of dividend receipts and improvements in the performance of investee companies. Further, the overall performance of the investee companies that paid dividends was positively impacted by favourable and sustained copper prices during the two (2) reporting periods.
At Group level, revenues of ZMW11.96 billion and ZMW14.40 billion were recorded for years ended 31 December 2022 and 31 December 2021respectively. Increased revenue in 2021 and 2022 is due to the acquisition of Mopani Copper Mines PLC which accounts for an average of 98% of Group revenue. The dividends declared for the 2021 and 2022 financial years represents the seventh (7th) and eighth (8th) consecutive dividend declaration by ZCCM-IH respectively. ZCCM-IH has paid a total of K1.4 billion in dividends to its shareholders since 2015.
End
Issued by:
ORIGINAL SIGNED
Loisa Mbatha
Corporate Affairs Manager
ZCCM Investments Holdings Plc
Job Advertisement: Technical Assistant Geology & Legal Counsel
EMPLOYMENT OPPORTUNITY
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 create tangible wealth sustainably for the benefit
of the Zambia people and all our stakeholders”.
The Company invites applications from suitably qualified and experienced persons who are innovative, energetic and performance driven to fill the following vacancies:
Table: Vacancies
JOB TITLE | DIRECTORATE / DEPARTMENT | GRADE | NO. REQUIRED | SERVICE TYPE | STATION |
Legal Counsel -Litigation | Legal | ZH4 | 1 | Permanent & Pensionable | Kitwe |
Technical -Assistant Geology | Technical | ZH5 | 1 | Permanent & Pensionable | Kalulushi |
Application clearly marked ‘LEGAL COUNSEL – DISPUTE RESOLUTION ‘OR “TECHNICAL ASSISTANT – GEOLOGY” together with copies of certificates and detailed curriculum vitae should reach the undersigned not later than Tuesday 26th September 2023.
Women are strongly encouraged to apply.
Only shortlisted candidates will be communicated to.
Physical
Chief Human Resource & Administration Officer ZCCM Investments Holdings Plc
ZCCM IH Office Park, Alick Nkhata Road P O Box 30040
LUSAKA
Electronic
Visit the ZCCM-IH Career page for this job advertisement at http://www.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 Advertisement: Multiple Employment Opportunities at Kabundi Resources Limited (”KRL”)
Kabundi Resources Limited (KRL), is a wholly owned subsidiary of ZCCM Investments Holdings Plc, managing the manganese license that ZCCM holds in Serenje District, Central Province of Zambia.
The Company invites applications from suitably qualified and experienced persons who are innovative, energetic and performance driven to fill the position listed Below:
- Shift Boss x 2
- Equipment Operators x 5
- Artisan Fitters x 2
- Weighbridge Operator x 1
- Store Officer x 1
- Mine Spotters x 2
- Maintenance Assistant x 1
- Cook x 1
*Please Note that the Duty Station is KRL Mine, Serenje
Applications CLEARLY MARKED WITH THE POSITION TITLE, together with copies of certificates and detailed curriculum vitae should be addressed to:
Human Resource Officer
Kabundi Resources Limited
and forwarded to Jobs@krl.com.zm
The Application should reach the undersigned not later than 15th August 2023
Only successful candidates will be responded to.
Please refer to the links below for detailed information about the positions
JOB DESCRIPTION – Mobile Equipment Operator - Job Description 3 164.10 KB 387 downloads
...Job Advertisement: Chief Executive Officer (Limestone Resources Limited) – EXTENDED ADVERTISEMENT
Limestone Resources Limited wishes to invite applications from suitably qualified and experienced persons who are ambitious, innovative, energetic and performance-driven to fill the vacancy of Chief Executive Officer.
About Limestone Resources Limited.
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 Position
The company is seeking a vision-driven, strategic and seasoned corporate leader to become Chief Executive Officer (CEO). The CEO will advance and build on the vision, mission, and commercial development of Limestone Resources Limited and ensure that all business operations are in line with the Company’s strategic plan. The CEO reports directly to the Board of Limestone Resources Limited and will be responsible for leading the Executive Team to drive Company growth and generate sustainable shareholder value and returns. The Chief Executive Office is responsible for providing strategic leadership and vision to the Company by working with the Board of Directors and the Management Team to establish, implement and over-see the goals, strategies, plans and policies of the Company, subject to the direction and oversight of the Board of Directors.
The Chief Executive Officer should have a balanced combination of an understanding of mining, people management and commercial management experience. The ideal candidate will bring clear commercial and strategic focus to the Company.
Application Process
Applications clearly marked ‘CHIEF EXECUTIVE OFFICER’ together with copies of certificates and a detailed curriculum vitae should reach the undersigned not later than Wednesday 2nd August 2023.
Physical
Chief Human Resource & Administration Officer
ZCCM-IH Plc
Stand No. 16806, Alick Nkhata Road
Mass Media Complex Area
P O Box 30048
LUSAKA
Electronic
Visit the ZCCM-IH Careers page for this job advertisement at http://zccm-ih.com.zm/careers
Alternatively, forward your application to jobs@zccmnew.wpenginepowered.com
Only successful candidates will be responded to.
Please refer to the links below for detailed information about the positions