Lundazi, April 5, 2019, ZANIS—Zambia Consolidated Copper Mine (ZCCM) Investment Holdings Plc has been granted a license to explore oil and gas in Chasefu district in Eastern province.

Chasefu Council Secretary (CS), Martin Mutale disclosed to ZANIS in a statement in Lundazi district, Eastern province, that the licenses Number Pel 033 block 27 located in Chasefu will also enable ZCCM-IH to explore oil and gas in Chama and Mpika districts.

Mr Mutale said all the documentation is in the progress adding that, what is remaining is the company to obtain a written consent before it can embark on the explorations of the minerals in the district.

And the CS revealed that according to the ministerial circular he received, the Ministry of Local Government has approved the 2019 budget for Chasefu district with adjustments and conditions set out.

Meanwhile, Chasefu Council Chairperson, Chimwemwe Banda urged councilors to take stock of all the damaged infrastructure as a result of rain to equip the local authority with up to date database.

Mrs Banda has however, stated that the district is poised for a bumper harvest following the significant rainfall it has received.

Source: Zanis

Zambia Consolidated Copper Mine Investment Holding (ZCCM-IH) Cement has had to defend the construction of a US$600m cement plant in Masaiti District on the Copperbelt province.

Some 47 households are expected to be displaced to pave way for the construction of the plant.

ZCCM-IH Cement Stirring Committee Chairperson, Mwila Lumbwe, said ZCCM-IH is partnering with Central African Cement Ltd, which is spearheading the development of the project in Masaiti.

In July last year, President Edgar Lungu graced the ground-breaking ceremony of the cement project.

Mr Lumbwe said the project would take 36 months to complete. The project would also create a 1000 jobs in various fields during construction phase and after completion, 400 permanent jobs would be created.

“It is our hope that the people in Chief Chiwala’s area will benefit from the new opportunities that will be created by Central African Cement,” he said.

However, Mr Lumbwe said the 47 households that would be displaced were in the factory area, adding that others that farmed in the same area, would also be compensated, and the value minimum for construction for each household would be ZMW108,000 (US$11,126).

Mr Lumbwe said it would significantly enhance the capacity of Ndola Lime Company which would be supplying limestone for the new plant. He added that the plant would generate 57MW of power and that there would be a surplus of 38MW, which would be released into the grid and possibly exported, adding that the plant would bring opportunities for the Zambian economy at large.

Copperbelt Permanent Secretary, Bright Nundwe, said the factory would sit on 75ha plot, adding that no one would be affected in terms of displacement and decent houses would be built for them before relocation.

Source: PG Zambia

ZCCM IH has signaled to the market that it has have every intention to firm up on the executive appointments at the company following the recent announcement of the appointment of current Acting Chief Executive Officer, Mabvuto Chipata, as Executive Director on its board.

Mr. Chipata was appointed Acting CEO on 1st February following the departure of Pius Kasolo at the end of January. The former Chief Investment Officer took over the stewardship in period that saw the investment company declare dividends of over K89 million for the 2017 financial year.

“ZCCM Investments Holding Plc (ZCCM-IH) is pleased to announce the appointment of Mr. Mabvuto T Chipata, Acting Chief Executive Officer, as Executive Director on the ZCCM-IH Board effective 21 March 2019”, read the statement issued by Company Secretary Chabby Chabala on SENS on 28th March 2019. “The Board wishes to congratulate Mr M Chipata on his appointment and is confident that he will add value in fulfilling the strategic objectives of the Company.”

The appointment of Mr. Chipata to the board signals transformation at the Investment company. In recent days, ZCCM IH’s investee company InvesTrust Bank announced the departure of 3 non-executive directors from the Bank’s Board. The announcement, of the departures of Dr Moses N. Banda, Mr. Cosmas K. Mwananshiku, and Mr. Maybin Muyawala, was made on 25th March 2019. Without a doubt, the investment company must have been informed about this development.

The proximity of the announcements is an indicator that the investment company is in a period of consolidation its executive position in order for the strategy of the company and its investments to be executed with fluidity.

Source: FIZAMBIA

Finance, ZCCM-Investment Holdings Plc
Posted on March 7, 2019 at 9:47 am.
Written by Natasha Sichone

On Wednesday morning, Zambia Consolidated Copper Mines-Investment Holdings presented the Zambian Government with a dividend cheque worth K16.8 million. Finance Minister Honorable Margaret Mwanakatwe received the cheque on behalf of the Government from Zambia Consolidated Copper Mines CEO, Mavuto Chipata at the Ministry Of Finance.

Mrs. Mwanakatwe expressed gratitude to Mr. Chipata and explained that it is the third dividend cheque that the Government is receiving from the organization. The first, being a net dividend of K50.3 million to the Industrial Development Corporation (IDC) and the second one to NAPSA of K14.7 million.

“The K0.61 per share final dividend declared by ZCCM-IH translates to a total of K98.1 million out of which, I am receiving this K16.8 million cheque from the 17.25% Class B shares held by government through my office” the Minister said. Margaret Mwanakatwe then went on to encourage other State Owned Enterprises to emulate the performance of Zambia Consolidated Copper Mines Investment Holdings by being more creative and working hard at turning around their institutions to profitability.

The Government’s 77.6 percent shareholding in the organisation with 60.3 percent owned by the Industrial Development Corporation and 17.25 percent owned by the Ministry of Finance. NAPSA also owns 15 percent while the remaining 7.4 percent is owned by various minority shareholders.

When commenting on the dividend cheque, Mavuto Chipata said “I must mention that, our 2018-2023 strategic plan activities are aimed at maximizing and deriving shareholder value from our existing investments in the mines and other sectors, including any new investments we will undertake as a company. ZCCM-IH will continue to play a pivotal role in the mining sector for which the ZCCM-IH brand is deeply associated.

Source: FIZAMBIA

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

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 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

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-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: Zambia Daily Mail Limited