ZCCM-IH pays dividends

ZCCM-IH has presented to Government a third dividend cheque in a week worth about 16 point 8 Million Kwacha.

Speaking after presentation of the cheque, Finance Minister Margaret Mwanakatwe thanked ZCCM-IH Board and Management for keeping the company on a profitable path.

Mrs. Mwanakatwe also urged other State-Owned Enterprises to emulate the performance of ZCCM-IH.

She explained that state owned enterprises should endeavour to always be creative and work hard to turn around their institutions to be profitable.

And ZCCM-IH Acting Chief Executive Officer Mabvuto Chipata said the institution will continue to play an important role in the mining sector.

Mr. Chipata also assured that ZCCM-IH will remain focused and continue to create value in all its investments in order to sustain the delivery of returns on investment of all shareholders.


Source: ZNBC

Chipata’s 2 big Cheques Shine at IDC and NAPSA

Monday the 4 of March 2019 will forever echo in Mabuvto Chipata mind for some time to come. This is the day that he delivered two life size cheques to two key stakeholders in: IDC and NAPSA as acting CEO of ZCCM IH.

In his maiden dividend cheque delivery as the current leader of one of the foremost investment companies in Zambia, Acting CEO Chipata delivered dividend payments that many will not know where actually fruits of his stewardship as Chief Investment Officer. The fruits in this case was the K98.1 million dividend (0.61 per share) that was declared at the last annual general meeting at the end of January 2019.

A technocrat at heart, the crisp delivery of his cheque delivery speech showed a CEO with an investment acumen. “Our main focus moving forward, is that we continue to create shareholder value to sustain the continued delivery on the Return on Investment of our Shareholders”, declared aCEO Chipata at the NAPSA head office in Lusaka when he deliver their slice of the dividend valued at approximately K14 million who own 15% of ZCCM IH.

The aCEO also indicated that his company remained focus for the long term as they continue on a growth and transformational trajectory, with continued focus on the mining sector.


Source: FIZAMBIA

ZCCM IH makes a K6 million bet on Amethyst

ZCCM IH recently charge up Mapatizya with the unveiling of equipment worth K6 million for its investment in Kariba Minerals Limited which is intended to shake up the industry.

The investment group, currently under the stewardship of Mabvuto Chipata who is Acting CEO, recently announced that it would be acquiring the remaining 50% shares in the Amethyst mine. This is one of the oldest mines of its kind in Zambia and has been operating for over 60 years.

The company’s market share has been estimated at over 90% of the amethyst originating from Zambia, with production reaching as much as 800 tonnes of commercial grade amethyst per year, making it one of the largest producers in the world, according to Mr. Chipata who gave a statement at the 67% handing over ceremony. He hopes that this investment will yield positive results for his investment company which is pursing high performance targets which will require quality sales being made by the mine.

The mining equipment investment made to the company included two tipper trucks, one excavator and one front end load. This investment would go a long away in ensuring that the mine remained a leading player in the mining industry, according to Peter Phiri who is General Manager for Kariba Minerals. The forecast increases in production is around 150% for commercial grade amethyst and 67% for ore by tonnage.

ZCCM IH has been on an investment drive and recently unveiled its 5 year strategy which the company believes will increase shareholder value over the long term. The Chart below shows the performance of the company’s shares on LuSE over the last 5 years. With the share price last peaking in December 2015, Mr. Chipata and his management team will be targeting to achieve the highs of yesteryear. The investment made in Kariba Minerals is a clear signal to the market that they are intent to grow shareholder value.


Source: FIZAMBIA

ZCCM-IH buys new Equipment for Kariba Minerals

The Zambia Consolidated Copper Mines-Investment Holdings ZCCM-IH has capitalised Kariba Minerals Ltd with the purchase of new equipment worth K6 million to boost amethyst production.

ZCCH-IH currently owns 50 percent of the company and is in the process of finalising the acquisition of the additional 50 percent from Gemfields Ltd.
The equipment was officially handed over to the mine yesterday by ZCCM-IH acting Chief Executive Officer Mabvuto Chipata.

ZCCM-IH, Urban Hotels partner

MONICA KAYOMBO and KALONDE NYATI, Lusaka

ZCCM-INVESTMENT Holding (IH) and Urban Hotel Group have partnered to invest K60 million in the construction of a mixed-development property.

The property comprises a hotel and a Food Lover’s Market retail store creating over 1,500 indirect and 300 permanent jobs, with ZCCM-IH owning 49 percent while Urban Hotel Group owning 51 percent…


Source: Daily Mail

ZCCIM-IH in Collaboration with the Esther Lungu Foundation Donates Fertilizer and Hands Over a Water Borehole to Lufwanyama Residents

ZCCM-IH, in collaboration with the Esther Lungu Foundation Trust (ELFT), donated 200 bags of 50kg fertilizer, in addition to a water borehole handed over to residents in Chief Lumpuma’s Chiefdom in Lufwanyama district. The 200 bag of fertilizer donation was aimed at empowering local women’s groups in the area, whose main livelihood is depended on agriculture. The water borehole will be accessed by over 1,000 residents in the area.

In her speech read on her behalf by the Lufwanyama District Commissioner, the First Lady, Mrs. Esther Lungu commended ZCCM-IH for its consistency in the implementation of the access to clean and safe water initiative throughout the country.

ZCCM-IH | Changes in the office of the Chief Executive Officer

In compliance with the Securities Act No. 41 of 2016 and the Listing Rules of the Lusaka Securities Exchange (LuSE), the Board of ZCCM Investments Holdings Plc hereby announces the separation and retirement of Dr Pius C Kasolo as Chief Executive Officer and Executive Director respectively, of the Company with effect from 1st February 2019.

The Board would like to take this opportunity to thank Dr Kasolo for his valuable contribution to the Company during his tenure of office and wishes him success in his future endeavours.

The Board further announces the appointment of Mr Mabvuto Chipata, the Chief Investments Officer, as Acting Chief Executive Officer from 1st February 2019 and looks forward to his contribution towards the realisation of ZCCM-IH’s strategic objectives.

By Order of the Board
C Chabala

Company Secretary
Issued in Lusaka, Zambia on Friday, 1 February 2019

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
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, 1 February 2019

Download full announcement

ZCCM-IH | Changes in the office of the CEO

Zambia’s copper production rises to 861,946 tonnes in 2018

Zambia has recorded a marginal increase in its copper production for 2018 to around 861,946 metric tonnes from 799,329 tonnes recorded in 2017, boosted by First Quantum Minerals’ (FQM) operations in Kalumbila District.

But last year’s increased copper output still means that Zambia remains Africa’s second-biggest producer of the red metal, with the Democratic Republic of Congo (DRC) expected to hit over 1.2 million metric tonnes.

According to the official Ministry of Mines data, Zambia’s total copper production last year marginally rose to an estimated 861,946 tonnes from 799,329 tonnes recorded in 2017.

The total copper production included all of the country’s 10 large scale mining operations as well as small-scale mining operations, which accounted for at least 10,859 metric tonnes from the total tonnage.

Data reveals that although FQM’s Kansanshi Mining Plc recorded a marginal drop of 249,532 tonnes last year from 250,803 tonnes in 2017, its output in 2018 was the highest among all 10 mining companies in the country for a third successive year.

Additionally, Ministry of Mines Permanent Secretary Paul Chanda explained that FQM’s Sentinel Copper Mine in Kalumbila District produced record output of 223,655 metric tonnes, which helped contribute to Zambia’s overall copper production increase.

“The performance of the sector was better in 2018 relative to 2017. The increase in copper production is attributed to: i. The ramp-up in production at Kalumbila; ii. Improved plant availability and utilization at the Tailings Leach Plant at KCM coupled with higher grades; iii. Commissioning of the Synclinorium Shaft at Mopani in Kitwe has increased volume of ore being hoisted,” Chanda explained in a statement released, Wednesday.

Both Kansanshi and the Sentinel’s copper output last year constitute for 473,187 tonnes out of the country’s total production or nearly 55 percent from just two operations.

And 6 other mining companies equally recorded upward copper production output last year.

These included: Mopani Copper Mines, whose output hit 62,191 metric tonnes from 44,860 tonnes in 2017; Konkola Copper Mines (KCM), whose output rose to 93,165 tonnes last year from 84,436 tonnes in 2017; Chibuluma Mines, who recorded 11,258 tonnes in 2018 from 10,194 tonnes in 2017; CNMC Luanshya, whose output increased to 50,363 tonnes last year from 43,206 tonnes in 2017 and Sino Metals, who recorded 9,312 tonnes from 7,100 tonnes, while Lubambe’s copper production hit 22,074 tonnes from 18,037 tonnes during the period under review respectively.

On the other hand, Barrick Gold’s Lumwana Copper Mine saw its output fall to 101,890 tonnes last year from 116,170 tonnes in 2017, while NFCA recorded 27,644 tonnes down from 27,706 tonnes during the period under review respectively.

But Zambia’s increased 2018 copper production still means that the country remains Africa’s second-biggest producer of the red metal, with the DRC expected to hit over 1.2 million metric tonnes.

The DRC first managed to surpass Zambia as the continent’s biggest copper producer after that country managed to produce over 900,000 metric tonnes of copper in 2013, registering a sharp rise and surpassing Zambia’s 754,916 tonnes produced that year.

Source: News Diggers

ZCCM-IH | 2018 Annual General Meeting Presentation

Financial Highlights

36% reduction in Revenue is attributed to low sales at Ndola Lime Company Limited due to increased competition in the lime market and technical challenges.

80% reduction in Other Income is due to decrease in copper price participation income from K719 million in 2017 to K360 million in 2018. The K360 million recorded this year was an additional default interest awarded by the court on the Konkola Copper Mines PPI receivable.

464% increase in Share of Profit of Equity Accounted Investee is driven by improved production volumes and copper prices during the year.

384% Increase in Revenue is due to dividends from CEC Plc and Kansanshi of K51 million and K149 million respectively.

49% reduction in Other Income is due to decrease in copper price participation income (PPI) to K360 million from last year’s amount of K719 million. The K360 million is an additional default interest awarded by the Court on the KCM price participation receivable…


Related download
ZCCM-IH | 2018 Annual General Meeting Presentation