3.1% ZCCM-IH Revenue Royalty Model with Kansanshi Copper Mine is a good deal for Zambia – Watson Lumba

A Local Economist has dispelled assertions that the ZCCM-IH sold its 20 percent shareholding in the First Quantum Mine owned Kansanshi Copper mine of Solwezi and advised Zambians to avoid politicizing matters bordering on national wealth creation.

Watson Lumba stated that it is unfortunate that Zambians are finding comfort in politicizing everything and anything, a trait he cites to have potential to plunge the nation into a crisis especially when it borders on the economy and wealth creation.

Mr Lumba who was speaking when he appeared on Tuesday’s edition of Let the People Talk programme on Radio Phoenix said there is no way ZCCM-IH could sell its shares and still remain on the board with voting rights adding that people must stop politicizing good policies.

He noted that the decision by ZCCM-IH to forgo its dividend royalty in preference for the revenue royalty model of 3.1% is a good move that allows the investment holdings which only has 20% share holding in the mine to receive its share regardless of the status of the mining company instead of waiting for profit dividends which are not guaranteed.

“It is not true to say ZCCM-IH has sold its interest in the mine. What is true however is that the investment holdings still have a stake in the mine, and it will receive its money which will be calculated according to sales and not profits as is the case with dividends. Mind you, ZCCM-IH with its 20% shareholding in the mine had very little say despite having voting rights as the other shareholders have more than 50 +1 % giving them the ultimate decision making power. But under the new model, whatever decisions the majority shareholders make will not affect ZCCM-IH and its money as it is guaranteed through sales,” Mr Lumba explained

He further explained that the revenue royalties will ensure the stability of revenue inflow into ZCCM-IH coffers because it is based on the gross value of production as opposed to dividends which are centered on profit and added that the production value is less volatile than the profit value because of the cost element in the latter and the fluidity of the dividend policy that is at play.

Mr Lumba further disputed assertions from especially members of the opposition political parties that the government and the people stand to lose under the revenue royalty despite being the owners of the mine.

“Let us separate the two. The government on behalf of the people of Zambia owns the land and the minerals underneath the land but is not engaged in any form of production and does not incur any costs. Because of that, the government is getting the mineral royalty tax by virtue of it owning the land and minerals underneath. Then we have ZCCM –IH which sits as a shareholder on the board with voting rights but with no or less power to change any decision,” he said

“Under this arrangement, ZCCM –IH was only told what the major shareholders had planned to do with the profits and could do nothing other than take the company to court if not satisfied with the majority decision which was a cost on both entities. But under the revenue royalty model, ZCCM –IH will get its money according to the sales and will not be bothered by any investment decisions by the majority shareholder. The more they invest, the better for ZCCM –IH as it is assured of an increase in returns on its 3.1% royalty. This is a good deal. Let us just not politicize economic policies as that will affect the growth of our economy,” he added

Source: Lusaka Times

ZCCM-IH Takes Center Stage: A revenue-sharing model will give ZCCM-IH the financial firepower to achieve its strategic goals, says Board Chair

The state-owned mining investment company ZCCM-IH recently announced its decision to convert its right to dividend payments from its stake in Kansanshi Mining Plc to a revenue-sharing agreement, under which the company will receive a percentage of all mineral sales for as long as the mine is in production. Mining For Zambia asked ZCCM-IH’s Board Chair, Ms Dolika Banda, to tell us what motivated the move, and how it benefits the company and Zambia as a whole.

During our last conversation in May, you shared a few details about ZCCM-IH’s direction of travel in the next few years. Three of the strategic pillars that you highlighted were: mineral diversification (which involves ramping up exploration), value addition and beneficiation of minerals and, thirdly, “creating and maximising value for [your] shareholders, and ensuring they get a return on their investments [by] adopting best practices to find new – and, crucially, predictable and consistent – revenue streams for shareholders.”

Would you say that ZCCM-IH’s securing of an annual royalty income of 3.1% from Kansanshi Mining Plc (KMP) is a concretisation of this third goal?

Yes, it certainly is. ZCCM-IH, like any global investment house, needs to be assured of the certainty of income flows, and finding ways to optimise returns from our portfolio of investments is part of this. The strategic decision to add royalty revenues to our income stream came out of an internal review conducted back in 2019 and is a key part of ZCCM-IH’s 2020-2026 Strategy. This particular negotiation with First Quantum Minerals has been on the table for the last three years. Because of the growth in shareholder returns that it creates, it has received support under the current Administration, too.

You described the previous dividend model as “very unsatisfactory” because dividend pay-outs were neither guaranteed nor predictable. What are the relative advantages of having a fixed 3.1% royalty paid each year?

ZCCM-IH holds majority and minority shares in both mining and non-mining assets, but most of our mining investments have historically not paid dividends at all, and we’ve simply not been able to predict our income from one year to the next. Certainty over the return on our investments has become a key strategic objective for us, and the dividend model does not fit the criteria, whereas a royalty most certainly does. It may help if I just briefly explain the difference between the two –

A dividend is normally a percentage of annual profits paid out to the shareholders of a company, based on the size of their shareholding. But a dividend is only payable at the discretion of the Board of Directors and, when a company is building up funding for large projects or has minimal to no profits, dividends are often limited or not paid out at all. As a minority shareholder – such as ZCCM-IH is in Kansanshi, where we have only a 20% shareholding compared to First Quantum’s 80% – companies have very little influence in deciding whether or not dividends are paid. So, dividends are neither guaranteed, nor are the amounts predictable from one year to the next.

A royalty is very different; it is charged as a percentage of revenue or sales (the top line), as opposed to being tied to the profits that remain after the cost of production (the bottom line) is taken into account. In this transaction, a regular cash royalty will be payable to ZCCM-IH for as long as Kansanshi is in production. So, the royalty will be paid irrespective of profitability or the need to save funds for investment in future projects. This model will therefore ensure steady and predictable cashflow for ZCCM-IH, giving the company more flexibility to invest in exploration, for example, and to build up a capital buffer.

“In this transaction, a regular cash royalty will be payable to ZCCM-IH for as long as Kansanshi is in production. This model will therefore ensure steady and predictable cashflow for ZCCM-IH, giving the company more flexibility to invest in exploration, for example, and to build up a capital buffer.”

How did you arrive at the 3.1% royalty figure?

As you can imagine, this has been the subject of considerable work and intense negotiation for years now. The 3.1% royalty was calculated using a third party Kansanshi valuation model, including the S3 expansion and applying market discount rates. Independent legal and financial advisors (some local, some international) were contracted by ZCCM-IH to carry out the valuation. Data was collected from site visits, and third-party Broker Consensus assumptions regarding copper and gold prices were used for the calculation, as was the FQM financial model of Kansanshi and the latest 43-101 report for Kansanshi, published in September 2020. It should also be kept in mind that the 3.1% is tied to production and pegged to the gross value of all metals produced at Kansanshi (based on published metal prices).

The rationale for seeking royalty revenues from your investee companies is that many of them have not been paying dividends. However, hasn’t Kansanshi been one of the mines that has historically paid dividends to you? So why start with Kansanshi?

Good question! Indeed, it may seem contradictory to start with the one mining investment that has regularly been paying us dividends. In this case, it came down to a combination of factors, including maximising our revenue, assuring predictability and consistency of cash flow and, of course, finding a partner that was willing to come to the negotiation table. The power of smoothing out our cash flow so that it’s predictable from one year to the next should not be underestimated!

Is a 3.1% royalty a good result? Some commentary in the media has suggested you should have secured a higher percentage. What do you have to say to that?

We believe it will prove to be a good result, especially over the long term. Generally speaking, international comparisons for similar royalty agreements range from 1.8% to a maximum of 3.5%. But this is a very superficial comparison.

To give you some meaningful comparison, if we look at the actual dividends we received from Kansanshi between 2009 and 2021, they average out to $24 million a year, whereas a royalty of 3.1% on historical sales would have delivered $48 million a year over the same period. Furthermore, our calculations show that the royalty would have fluctuated far less, even though this period spans both the highs and lows of the copper market cycle. So, not only would the overall average revenue from the royalty have been higher, but it’s also more predictable and consistent.

Another key thing to remember is that the royalty we will receive from Kansanshi is on top of the royalty payable to the State, as Mineral Royalty Tax (MRT). This in no way replaces or reduces the mineral royalties collected by the Government or corporate tax payable to Zambia.

“If we look at the actual dividends we received from Kansanshi between 2009 and 2021, they average out to $24 million a year, whereas a royalty of 3.1% on historical sales would have delivered $48 million a year over the same period.”

Are there any circumstances where you might not receive royalties from Kansanshi?

Yes, if Kansanshi were ever put under care and maintenance – which means mothballing it – that would mean little or no production, thus no royalty. But this is an extreme scenario that no shareholder would ever want to see. It’s important to note that under this scenario, we would not be receiving dividends either because a loss-making mine under care and maintenance would obviously not be in a position to pay dividends.

The life of mine at Kansanshi is finite, and ore grades have been declining for years. How much longer do you envisage receiving these annual royalty payments on Kansanshi’s copper production?

The S3 expansion at Kansanshi was motivated by the need to increase production in the face of declining ore grades. Now that this has been approved, Kansanshi’s life of mine is currently estimated at 23 years. Of course, any further expansions or major reinvestments that increase production or extend the life of mine will directly benefit us too, as our royalty is a percentage of revenue (i.e. the sale of mine production) over the life of mine.

“Now that the S3 expansion has been approved, Kansanshi’s life of mine is currently estimated at 23 years. Of course, any further expansions or major reinvestments that increase production or extend the life of mine will directly benefit us too, as our royalty is a percentage of revenue (i.e. the sale of mine production) over the life of mine.”

ZCCM-IH also announced that it has received an immediate dividend of $195 million from Kansanshi. Did this involve selling off some of ZCCM-IH’s 20% share in Kansanshi Mining Plc?

No, it did not involve selling ZCCM-IH shares in Kansanshi – no part of this agreement does. For the record, we retain our same 20% shareholding in Kansanshi. What we are electing to do here is to receive benefits from Kansanshi through the royalty model, rather than under the dividend arrangement. These royalty rights vest under a new royalty agreement which we have entered into with First Quantum, subject to shareholder approval. This is not a debt or preference share agreement, as some commentators have suggested, but a commercial royalty agreement. As we have already publicly stated, ZCCM-IH still retains its 20% Class A shares for the life of mine, along with the right to nominate two Board directors with voting rights.

Why leave the dividend model now when it seems to be paying off so well?

The point is that these sums are not guaranteed from one year to the next, so in the past we have experienced feasts such as this – and in 2014, for example – followed by famine. The conversion to a royalty-based model is about smoothing out income flow, so that it’s more predictable from year to year. This will help us raise capital against guaranteed future income, which boosts our investment options.

As I mentioned, certainty over our return on investments has become a key strategic objective for ZCCM-IH,  therefore the dividend model was no longer seen as the best fit for our investment in Kansanshi Mining Plc. The nature of dividends is that they can be unpredictable. A decision to pay dividends depends upon the profitability of the business and its future cash requirements, both of which can be uncertain – especially in the mining industry, which requires constant reinvestment to sustain operations. 

Why have FQM agreed to pay 20% of historical outstanding VAT refunds to ZCCM-IH, and will this be offset against the $195 million dividend payment that’s been agreed?

Firstly, there is no offset. We have already received the $195 million dividend. Secondly, it has been agreed that – in addition to the royalty revenue which ZCCM-IH will get from Kansanshi on a go-forward basis – 20% of the historical refunds will be paid to ZCCM-IH through dividends on our shares, as and when these are received by Kansanshi from ZRA.

The reasoning behind this is that the Kansanshi VAT refunds have been outstanding for a number of years and, if they had been refunded in a timely manner, they would have been included in historical dividend payments to ZCCM-IH. This agreement simply ensures that ZCCM-IH doesn’t lose out on amounts that would have been paid to us because of our decision to convert the dividend model to a royalty model. 

What role will ZCCM-IH retain in the governance of KMP, and what checks and balances will be in place to ensure that what the company is producing or declaring is correct?

We will continue to have two out of ten directors on the Board of Kansanshi, thus we will still participate fully in the governance of Kansanshi. In addition, the Royalty Agreement gives ZCCM-IH access and audit rights, so we can visit the mining site and inspect the books and records.

How will the $195 million lump sum and the annual 3.1% royalty income further ZCCM-IH’s investment strategy? What could this unlock for you?

The great advantage of predictable income is that it will allow us to raise capital, as needed, on the back of greater cashflow certainty. This will give ZCCM-IH the financial firepower to achieve its strategic goals, which is to see it play a far greater and more active role as a Zambian mining investor throughout the mining value chain – from exploration through to value addition – driving investment, and creating new businesses and jobs for ordinary Zambians.

Our main objective is to leverage the country’s billion-dollar mining sector for the benefit of Zambia and its citizens. But we can only meaningfully invest in developing the country if we have revenue that is guaranteed and predictable. And the royalty income gives us this opportunity.

 

source: https://miningforzambia.com/zccm-ih-takes-centre-stage/

ZCCM-IH Shareholders in K85.2 million Dividend Payout

09th December 2022, Lusaka, Zambia: Shareholders of ZCCM Investments Holdings Plc (ZCCM-IH) have approved an K85.3 million dividend at K0.53 per share during the 18th Annual General Meeting held today virtually.

This follows a Group profit of K2.1 billion (compared to K307 million in 2019) and a Company profit of K568 million (compared to K153 million in 2019) recorded for the 2020 financial year end. This represents 594% and 271% increase in profits compared to the previous year respectively.

At the ZCCM-IH Group level, the recorded profit was on account of:

  • 254% growth in share of profit on equity accounted investee companies due to favourable copper prices recorded in 2020 of US$6,200 (2019: US$6,000)
  • 70% growth in dividend received due to improvement in performance of investee companies and growth in investee companies paying dividend to 2 this year (2019: 1 investee companies).

The profit recorded at Company was mainly due to:

  • 32% growth in investment income recorded of K226 million, (2019: K171 million).
  • Significant depreciation of the Kwacha against the US Dollars from an average of K13.2/US$ in 2019 to K18.6/US$ in 2020 resulted in significant increases in exchange gains, as majority of assets are denominated in US Dollars.

The Group total assets increased by 56% to K23.7 billion (2019:K15.2 billion) mainly on account of 63% increase in investment in associates, and 219% increase in Cash and Cash equivalents due to receipt of dividends in Dec 2020 of K208 million.

Further, the Group recorded a 95% increase in retained earnings to K4.2 billion profit reported in 2020 from K2.1 billion reported in 2019 due to recorded a profit of K2.13 billion for the year; and at Company level, retained earnings increased by 53% to K1.5 billion (2019:K978 million) due to recorded profit for the period of K568 million.

This is the sixth consecutive time that the Company has declared a dividend in line with its strategic goal of ensuring shareholder return on investment.

Issued by:
Loisa Mbatha
Corporate Affairs Manager
ZCCM Investments Holdings Plc
loisa.mbatha@zccmnew.wpenginepowered.com

Zambia ranks 10th on Top 15 Copper producing countries

In this article, we discuss the top 15 copper-producing countries in the world. To skip the detailed analysis of the copper industry, go directly to the Top 5 Copper Producing Countries in The World. 

Copper is one of the most commonly used and important metals in the world. According to Data Bridge Market Research, the global copper market size was around $304.79 billion in 2021 and is expected to reach $453.756 billion in 2029 at a CAGR of 5.1%. China is the world’s largest consumer of refined copper in the world. It consumed 52% of the global copper volume in 2021.

Covid-19 Impact

Like most industries, copper was also significantly affected by the pandemic. Compared to 2019, copper mining experienced a 2.9% decline in 2020, due to labor shortages, supply constraints, and mine closures. However, due to high demand paired with supply constraints, the copper market boomed in 2021 and crossed $10,000 per metric tonne in May 2021. The metal reached its peak at the end of March 2022, to $10230.89, and dropped substantially to $7651 at the end of October. The decline in prices came due to weaker demand from China since April 2022.

In 2021, $88.6 billion worth of copper was exported from 25 countries across the globe, representing a 52.1% increase on a YoY basis. Chile was the leader with $26.7 billion worth of exports, representing approximately 30% of all the exported copper ore.

Growth Catalyst

Copper has always had a high demand for electronics due to its malleability and high conductivity. Moreover, the demand for copper is expected to increase as the world moves towards renewable energy sources and the electrification of vehicles. According to International Energy Agency, the global copper demand could double by 2040.

Top Copper-Producing Companies

The Chilean government-owned company Codelco was the world’s largest copper-producing company with 1.78 million metric tonnes of copper produced in 2021. Freeport-McMoRan Inc. (NYSE:FCX) came in second to the Chilean company after producing 1.21 million metric tonnes. BHP Group Limited (NYSE:BHP), Vale S.A. (NYSE:VALE), Teck Resources Limited (NYSE:TECK), and Newmont Corporation (NYSE:NEM) are some of the other notable names in the copper mining industry.

Our Methodology

In this article, we selected the 15 countries that produced the most amount of copper in 2021. We arranged them in ascending order of their production in 2021. Furthermore, we also mentioned the copper reserves and the future outlook of copper production in these countries.

10. Zambia

Production in 2021: 726,379 metric tonnes

Copper is the backbone of the Zambian economy and accounts for 75% of Zambia’s total export earnings. Zambia produced a record high of 800,192.27 metric tonnes of copper in 2020, which declined by 4.5% to 726,379.19 metric tonnes in 2021. The Zambian Mopani Copper Mines produce the majority of the country’s copper and are the most significant copper deposit in Africa, producing approximately 88,000 metric tonnes of copper in 2021. Lumwana mine is another important mine in Zambia and is owned by Barrick Gold Corporation (NYSE:GOLD).

In 2021, Zambia exported $8.44 billion worth of copper in 2021. According to the UK investment firm SP Angel, the new Zambian president Hakainde Hichilema is focusing on increasing investments in the country and wants to triple the country’s copper output over the next decade.

 

Read more: https://www.insidermonkey.com/blog/top-15-copper-producing-countries-in-the-world-1087892/

Job Advertisement: Accounts Assistant, Driver.

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. 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:

 

JOB TITLE DIRECTORATE / DEPARTMENT GRADE NO. REQUIRED  SERVICE TYPE   STATION
Accounts Assistant – Payables Finance ZH6 1 Permanent & Pensionable Lusaka
Driver Technical ZH7 1 Permanent & Pensionable Kalulushi

Applications together with copies of certificates and detailed curriculum vitae should be addressed to:

Chief Human Resource & Administration Officer
ZCCM Investments Holdings Plc
and forwarded to jobs@zccmnew.wpenginepowered.com

The Application should reach the undersigned not later than Friday 2nd December 2022.

*Women are strongly encouraged to apply.

Please refer to the job description below for detailed information about the position.

ZCCM IH agrees to provide a Corporate Guarantee to Ecobank Plc for USD15 million working capital for Mopani

In line with the requirements of Section 9 and 10 of the Lusaka Securities Exchange Listings Requirements, the key features of the Transaction are as follows.

Particulars of the Transaction The provision of USD15 million Corporate Guarantee to Ecobank by ZCCM-IH for the provision of recurring working capital requirements and to meet recurring payment obligations to various suppliers of copper concentrate and key production materials to Mopani Copper Mines Plc (“MCM”).
Guaranteed Amount USD15 million
Other significant terms of the Transaction Provision of USD15 million Corporate Guarantee to Ecobank valid until 12 months from date of issue
Effective Date 4th November 2022
The rationale of the Transaction The support of ZCCM-IH to the operations of MCM is quite critical at this juncture. MCM needs working capital urgently in order to meet recurring payment obligations to various suppliers of copper concentrate and key production materials

Shareholders are advised to exercise caution when dealing in the Company’s securities.

 

Source: https://fizambia.com/zccm-ih-transaction-announcement/

Euronext Sanctioning Lifted

Effective 09th November 2022, the Paris Euronext Access Stock Exchange lifted the sanctioning placed on ZCCM-IH shares on 04th October 2022 in which it transferred the Company’s listed shares to the Penalty bench/non-compliant issuers for breach of the requirements related to publication of financial statements by or before 30 June.

The lifting of the sanction follows the issuance of company provisional accounts for 2021 by ZCCM-IH on 28 October 2022 in compliance with the requirements of the Euronext Access rules.

In a statement released to the market and to ZCCM-IH, the Euronext Stock Market states that “due to the measures taken by the company to comply with the requirements of paragraph 3 of the Euronext Access rules, the shares of the company ZAMBIA CONSOL.COPPER MINES LTD will be transferred out of the trading group 32 ACCESS-SHARES-Penalty bench/Non-Compliant issuers on November 09, 2022”.

Going forward, ZCCM-IH has put in place measures (which include early commencement of group audit) to issue financial statements within regulatory requirements.

Source: 2022 ZCCM-IH Press Release – Euronext Sanctioning Breach Lifted

Zambia’s target to increase copper Production to 3 million tonnes in the next 10yrs is attainable

President Hakainde Hichilema has said Zambia’s ambitious target to increase copper production from the current 830,000 metric tonnes to 3,000,000 in the next ten years is attainable.

In a speech read for him by Mines and Minerals Development Minister Paul Kabuswe during the opening of the 10th Zambia International Mining, Energy Conference and Exhibition (ZIMEC) at Garden Court Hotel in Kitwe on Tuesday morning, President Hichilema said Government is committed to meeting the ambitious yet achievable target.

The Head of State said the New Dawn government is creating an attractive and competitive investment climate built on transparency, consistency, predictability and fairness while acting against corruption.

Mr Hichilema said the government has put in place favorable and predictable policies for investors to thrive and bring stability in the mining sector.

He charged that the mining sector was stagnant in the previous years because of what he termed as fights between the past government and the investors.

President Hichilema said time is right for Zambia to continue mining and ensure a win-win situation for the treasury, the investors and the community.

“I wish to reiterate our government commitment to reviving the Zambian economy anchored significantly by a robust mining sector that is amply supported by a vigilante energy sector. In marking over a year in office, our government continues to pursue a bold vision to usher in a new dawn for Zambia’s mining sector and indeed the rest of the economy including the essential energy sector. We are determined to deliver on our country’s mining and energy potential through a harmonised approach that optimally serves all stakeholders, Zambians and investors included. Premised on tenets of resilience and stability, will foster industrial development, create employment and grow national fiscal inflows for the equitable benefit of all,” Mr. Hichilema said.

“As a leading player in the global copper mining industry, we are striving to grow mineral output through new mines and expansion of existing ones in order to meet current as well as projected future demand growth. In this effort, I wish to implore all of you and emphasise our steadfast commitment to meeting the ambitious yet achievable goal of raising annual copper production levels from the current 830 metric tonnes to 3,000,000 metric tonnes in the next decade.We are creating an attractive and competitive investment climate built on transparency, consistency, predictability and fairness while acting against corruption in all its forms,” he said.

President Hichilema further appealed to investors to support local suppliers and contractors and work towards improving the communities hosting mining operations.

“Let me categorically state that investors in Zambia are assured of the rule of law guaranteeing security of tenure and investments. To this effect for example, good governance in the administration of mineral rights is being strengthened. A moratorium on the issuance of mining rights was affected while a systems audit was undertaken. We will soon launch the online payment portal that will enhance efficiency and integrity in the administration of the mining rights. We espouse collaboration and partnership as opposed to reducing nationalism. In this regard, Zambia welcomes investment that promotes local economic empowerment by allowing our people to participate meaningfully across the value chain. This reinforces the stability of your investments and fosters wide spread acceptance among our people. In the spirit of strategic engagement and partnership, Zambia recently signed a memorandum of understanding with the government of the Democratic Republic of Congo that will see two countries work closely to develop electric batteries and clean energy value chains,” he said.

Meanwhile Kitwe and District Chamber of Commerce President Emmanuel Mbambiko appealed to the government to bring sanity at Mopani Copper Mines and Konkola Copper Mines.

Mr. Mbambiko, a UPND official, said the business community in Kitwe district is affected by the dormant mine operations at KCM and Mopani.

Zambia Chamber of Mines of Zambia President Godwin Beene said the three-day conference which has attracted 300 delegates will entice investors to invest in the mining sector and help improve infrastructure, promote skills and develop communities.

Ministry of Energy Director incharge of Electricity Michael Mulasikwanda highlighted some of the plans the ministry is undertaking to grow the Energy Sector.

The 10th Zambia International Mining, Energy Conference and Exhibition (ZIMEC) that will run up to 3rd November 2022 is being held under the theme:”The Synergy between Mining and Energy, Developing sufficient sustainable energy to satisfy Zambia’s mineral production goals.”

 

Source: https://www.lusakatimes.com/2022/11/01/zambias-target-to-increase-copper-production-to-3-million-tonnes-in-the-next-ten-years-is-attainable/

Job Advertisement: Risk Officer

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. 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:

JOB TITLE DIRECTORATE / DEPARTMENT GRADE NO. REQUIRED  SERVICE TYPE   STATION
Risk Officer     Risk ZH4 1 Permanent & Pensionable Lusaka

Applications together with copies of certificates and detailed curriculum vitae should be addressed to:

Chief Human Resource & Administration Officer
ZCCM Investments Holdings Plc
and forwarded to jobs@zccmnew.wpenginepowered.com

The Application should reach the undersigned not later than Friday 18th November 2022.

*Women are strongly encouraged to apply.

Please refer to the job description below for detailed information about the position.

NOTICE OF BEST EVALUATED BIDDER – PROVISION OF CLEANING SANITATION AND SOLID WASTE

The Procurement Committee has authorized the award of 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/093/2022
Procurement Description Procurement of Cleaning, Sanitation and Solid Waste Disposal Services To ZCCM-IH
Method of Procurement Open National Bidding (ONB)
Lot Awarded Lot No. I – Provision of Cleaning and Sanitation Services to Investments House Kitwe, Technical Library Kalulushi, and MAWE Complex Kalulushi. Lot No. 2 – Provision of Cleaning and Sanitation Services at ZCCM-IH Office Park, Stand No. 16806, Alick Nkhata Road, Lusaka.
Name of the Best Evaluated Bidder Pyanga Limited Accura Logistics Limited
Address of the Best Evaluated Bidder Pyanga Limited, 597 Mean Wood Ndeke, Off Airport Road, Lusaka, Zambia Accura Logistics Limited, 2B Chilekwa Mwaba Road, Longacres Lusaka
Proposed Contract Price ZMW438,175.91 Inclusive ToT. ZMW133,632.00 VAT Incl.
Lot Awarded Lot No. 3 – Provision of Cleaning and Sanitation Services at Kabwe Offices and Laboratory in Kabwe. Lot No. 4 – Provision of Solid Waste Disposal Services at Investments House Kitwe, Technical Services, MAWE Complex Kalulushi, Mining Industry Archives Ndola, Kabwe ZCCM-IH Offices.
Name of the Best Evaluated Bidder Rumphi Enterprises Limited Pyanga Limited
Address of the Best Evaluated Bidder Rumphi Enterprises Limited, 3rd Floor, Tazara House, Dedan Kimathi Road, Lusaka, Zambia Pyanga Limited, 597 Mean Wood Ndeke, Off Airport Road, Lusaka, Zambia
Proposed Contract Price ZMW 81,600.00 VAT Incl. ZMW 79,344.00, Inclusive ToT
Date notification issued Thursday, 27th October 2022
Date of end of notification Wednesday, 9th November 2022

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

Read the full document here: NOTICE_OF_BEST_EVALUATED_BIDDER – PROVISION OF CLEANING SANITATION AND SOLID WASTE – Final – daily – KDK