KANSANSHI MINING SCHOOLS 2,000 ENTREPRENEURS WITH BUSINESS SKILLS

OVER 2,000 entrepreneurs in Solwezi were last year trained in basic business development techniques through a radio platform hosted by Kansanshi Mining Plc and Fortune World Investments. The workshops, which were also run on social media, under the theme ‘Changing the Business Mindset’, were sponsored by Kansanshi Mining but conducted by a consultancy firm, Fortune World Investments. Radio was deemed as a medium last year to beat coronavirus. In a statement issued on Friday, Kansanshi Mining stated that it is committed to enhancing small businesses’ capacity to participate in the country’s economic growth. It stated that the mining firm’s business development training programme has trained over 2,000 small business owners in basic business development techniques as part of its Kansanshi Foundation’s community sustainability programme. “The training aims to build employment capacity, enhance business growth and sustainability independent of mining activities as well as help formalise participants’ businesses. “Other objectives include enhancing small and medium enterprises (SME) participation in key sector value chains, which is critical to building economically independent communities in rural areas,” it stated. Kansanshi Foundation manager Bruce Lewis said…

Source: http://www.daily-mail.co.zm/kansanshi-mining-schools-2000-entrepreneurs-with-business-skills/

BOZ BUYS GOLD WORTH K345M FROM KANSANSHI COPPER MINES

THE Bank of Zambia (BoZ) has procured 282.79 kilogrammes (kg) of gold at a cost of K345.6 million from December 2020. Gold weighing 195.95 kg was bought from Kansanshi Copper Mines at the cost of K241.8 million, while 86.84 kg was purchased from Zambia Gold Company, a subsidiary of ZCCM-IH at the cost of K103.8 million.
This is according to the Ministry of Finance and National Planning in its response to online questions on gold purchasing released recently.

ZCCM IH and Kansanshi Mining Plc Arbitration by Kansanshi Holdings Limited Still On Going

Further to the cautionary announcements dated 25 November 2020 and 23 June 2021, the Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company” or “the Board”) hereby wishes to inform shareholders and the market that arbitration proceedings against ZCCM-IH and Kansanshi Mining Plc (“KMP”) by Kansanshi Holdings Limited (“KHL”) are yet to be disposed of.

There have been no further developments regarding the said proceedings since the last announcement. As the matter is still ongoing, shareholders are advised that it may still have a material effect on the price of the Company’s securities. Shareholders are, therefore, advised to exercise caution when dealing in securities of the Company. Shareholders will be informed once the Final Award is delivered.

Source: https://fizambia.com/zccm-ih-and-kansanshi-mining-plc-arbitration-by-kansanshi-holdings-limited-still-on-going/

ZCCM-IH MARKET ANNOUNCEMENT ON THE SUSPENSION OF MINING AND PROCESSING OPERATIONS AT KASENSELI GOLD MINE IN MWINILUNGA

In compliance with the requirements of the Securities Act, No. 41 of 2016 of the Laws of Zambia and Section 3.4 of the Listing Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings Plc (“ZCCM- IH” or the “Company”) announces the suspension of all mining and processing operations at Kasenseli Gold Mine (“Kasenseli Mine”) in Mwinilunga, North-Western Province. This follows a Ministerial directive from the Ministry of Mines and Minerals Development to suspend operations and address concerns relating to Kansenseli Mine’s license conditions and safety regulations. The concerns raised by the Ministry chiefly relate to safety and security, amongst others.

The suspension of mining operations at Kasenseli Mine was effective 22nd October 2021 and will remain in force until all issues highlighted in the Ministerial directive are closed out. Kasenseli Mine is operated by Zambia Gold Company Ltd, a subsidiary of ZCCM-IH

Source: https://fizambia.com/zccm-ih-market-announcement-on-the-suspension-of-mining-and-processing-operations-at-kasenseli-gold-mine-in-mwinilunga/

Arbitrator in the “end game” of Kansanshi case with ZCCM-IH

Shareholders in Zambia’s largest mining investment firm have been advised that the arbitration case involving one of its investee companies has continued to progress and is nearing an end, according to a statement from ZCCM IH.

Further to the cautionary announcement dated 25 November 2020, the Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company” or “the Board”) hereby wishes to inform shareholders and the market that arbitration proceedings against ZCCM-IH and Kansanshi Mining Plc (“KMP”) by Kansanshi Holdings Limited (“KHL”) have progressed”, read the latest statement on the matter from Company Secretary Chabby Chabala on 23 June 2021. “The arbitration tribunal has issued a Partial Final Award (dated 29 January 2021) in the arbitration, pursuant to which ZCCM-IH’s defence has been successful and various declarations have been granted in ZCCM-IH’s favour”.

The matter in question relates to “the arbitration proceedings that followed a criminal complaint made by ZCCM-IH with allegations of an unauthorised transfer of money by Kansanshi Mining to First Quantum’s local subsidiary”, according to Reuters in 2019.

Shareholders will recall the Reuters article that covered the story which disclosed the interdependency of “a separate case that ZCCM-IH began action in October 2016 to sue First Quantum for $1.4 billion over claims that the Canadian company borrowed $2.3 billion from its Zambian copper mining subsidiary Kansanshi without informing ZCCM-IH, a minority shareholder”.

In their latest statement, ZCCM IH indicates that “certain matters remain outstanding and will be addressed by the tribunal in the Final Award”.

Despite this signaling a favorable arbitrational journey, “shareholders were still advised that the matter is still on-going and may still have a material effect on the price of the Company’s securities. This is why ZCCM IH will continue to update Shareholders as the case progresses.

Source: http://fizambia.com/arbitrator-in-the-end-game-of-kansanshi-case-with-zccm-ih/

LOCAL CONTRACTORS WIN BIG IN $1.7BN FQM BONANZA

SOLWEZI AND KALUMBILA, ZAMBIA – First Quantum Minerals spent US$1.7 billion within Zambia in the last year, latest figures from the company have revealed.
The mining giant’s Kansanshi Mining Plc subsidiary spent US$958,767,110 locally in 2019, while US$659,712,101 was spent by Kalumbila Minerals Ltd at Sentinel mine. This equates to 88% and 80% of the mines’ total spend respectively.
The company’s Roads Division alone spent $152,815,503 within Zambia – 72% of its total expenditure for the year. In partnership with local town councils, it has stabilised roads in Solwezi, Kalumbila and other districts that were previously in a deplorable condition and presented a danger to road users.
The Roads Division is responsible for the construction and continuous maintenance of the roads and infrastructure on all First Quantum Minerals operations in Zambia, as well as development of the roads infrastructure of the communities in which it operates.
FQM Country Manager General Kingsley Chinkuli said that because of the company’s intensive use of infrastructure, FQM has recognised the transport sector as an important component of the economy and a common tool used for development.
“The relationship between the quantity and quality of transport infrastructure and the level of economic development is apparent,” he noted.
He added that to promote transparency and accountability, FQM adheres to the procurement procedures and laws of Zambia and strives to procurement from Zambian registered business.
“It is entirely right and proper that mines are open to scrutiny and held accountable for their actions, and indeed First Quantum goes to great lengths to ensure it is transparent in its corporate operations and sustainability programmes,” said General Chinkuli.
Projects that the company’s Road Division in recent years include a 2,800m runway at Solwezi, another 2,800m runway at Kalumbila, the earthworks and internal roads for the Kansanshi copper smelter, and the earthworks and internal roads for the new Sentinel mine process plant. They also include a 32km access road to the newly developed Sentinel mine at Kalumbila, a 15km access road to the new copper smelter and various roads around Solwezi, including the main access road to Kansanshi Mine.

Kansanshi Donates 2838 books to solwezi council

Solwezi Municipal Council has received a donation of 2, 838 books from Kansanshi Mine Plc.

Speaking when he received the donation, Solwezi Mayor Nicholas Mukumbi said books still remain the most popular source of information and knowledge for academics

Mr Mukumbi said despite the advent of Information Communication Technologies (ICT), the books helps to improve the reading and writing skills of people.

He said the Council is in the process of establishing a Library at the Kimasala Community Centre and planned to set up one preferably at the Civic Centre and others in each ward in order to reduce on movement of people from distant places to access books.

The Mayor encouraged members of the community to read the books once the Library is opened.

He expressed gratitude to the mining company for the gesture indicating that it will go a long way in improving the literacy levels of many in the district.

And Kansanshi Mining Plc Education Advisor Onward Mandevu said that Solwezi district and Zambia at large cannot develop with low literacy levels hence the donation of the novels, early childhood and senior school textbooks will help develop a culture of reading within the district because people that read, keep learning.

Kimasala Ward Councilor Nephan Kamwandi thanked the Council for being equal to the task by implementing provisions of the Local Government Act No. 2 of 2019 and bringing education services closer to the people as this guarantees improved literacy levels in Solwezi district.

Mr Kamwandi said the community will be enlightened about the donation and the importance of reading because this is for their benefit.

This is according to a media statement made available to The Independent Observer by Solwezi Council Assistant Public Relations Manager Esther Chirwa

Maamba Collieries Intensifies COVID – 19 Safety Measures

Maamba Collieries Ltd (MCL), the largest thermal power producer in Zambia has scaled-up efforts to stop the spread of COVID-19, by implementing stringent preventive safety measures.

Maamba Collieries Manager Yotham Phiri said MCL is treating the global pandemic with utmost seriousness, and taking all measures to ensure the health and safety of its staff, while also sensitising the community.

“We are alive to the gravity of the situation and are taking every possible precaution to prevent the COVID-19 infecting our people. Measures we have implemented include daily fumigation of all MCL buildings, equipment and vehicles to minimise contamination, as well as stopping all visitors. Our safety team is working hard to ensure every entry point to the mine and all buildings have sanitising equipment for our staff to use.” He said

And HR and Administration Manager Bwali Ndau highlighted measures to minimise person-to-person contact and ensuring social distancing and personal hygiene have been put in place.

In a statement made available to the Zamvian Business Times – ZBT on April 7, 2020 MCL has advised all employees who had travelled abroad on vacation, not to return to Zambia or if they return, to adhere to strict health guidelines and has stopped non-essential travel within the country, until the situation returns to normal.

MCL interventions against COVID-19 have also extended to the sensitisation of the local community, special sessions for school children on hygiene, helping the community with materials to ensure hygiene, as well as donating a critical care ventilator for treatment of infected personnel.

Meanwhile, in support of the request of the Sinazongwe Council, MCL has donated the much-need materials for the COVID-19 Isolation Site – including N95 masks, disposable overalls, gumboots, gloves as well as hand-washing facilities and personal hygiene items including liquid hand wash soap, detergent and much-needed fuel for vehicles.

Maamba Collieries is a key player in Zambia’s energy sector feeding 300MW into the national grid. Since the start of COVID-19 pandemic, MCL has ensured it remains at the forefront in the fight against the deadly virus in the country, through a strong demonstration of commitment to stringent safet

Source: Zambian Busines Times

KCM Liquidator stays as Vedanta’s petition to have him removed is rejected

The tribunal appointed in the arbitration proceedings in the matter of Vedanta versus ZCCH-IH which were commenced by the former, has rejected the application for the withdrawal of the matter as well as the removal of the liquidator, according to a statement from ZCCM-IH.

Shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH”) are referred to the announcements dated 23 May 2019, concerning the filing by ZCCM-IH of a petition in the High Court of Zambia for the winding up of Konkola Copper Mines PLC (“KCM”) on 21 May 2019 (the “Petition”), the appointment by the Court of Mr. Milingo Lungu as provisional liquidator of KCM (the “Provisional Liquidator”) and the legal proceedings commenced in the High Court of South Africa and applications made to the Zambian High Court by Vedanta Resources Limited and Vedanta Resources Holdings Limited (together “Vedanta”)”, read a statement authorized by order of the Board issued by Company Secretary Chabby Chabala on 1st April 2020. “In compliance with the requirements of the Securities Act No. 41 of 2016, shareholders are informed that on 23 March 2020, the tribunal appointed in arbitration proceedings commenced by Vedanta against ZCCM-IH dismissed an application by Vedanta for an interim measure requiring ZCCM-IH to withdraw the Petition and procure the removal of the Provisional Liquidator from office”.

ZCCM-IH has indicated it will provide details of these proceedings in due course. KCM is currently under provisional liquidation, a process that was initiated by ZCCM-IH, a minority shareholder, which presented a petition for compulsory liquidation in the High Court on 21st May, 2019.

A comprehensive Ministerial statement on the petition was provided by Minister of Mines and Minerals Development, Richard Musukwa to Zambia’s parliament following the appointment of the liquidator.

The petition included an application for the appointment of a provisional liquidator”, read the Minister’s statement. “The appointment of a provisional liquidator was necessitated by the need to protect assets in the interim period between the presentation of the petition and the determination of the matter”.

Prior to the petition application, the Minister stated that there was a technical audit that was conducted on the mine by a multifaceted team of professionals. “The audit was conducted by a technical audit committee appointed by the Government comprising experts in mineral resources management, mineral processing, governance, labour issues, mining engineers and business administrators including lawyers from various institutions such as the Government, academia, the legal profession, industry and various universities in our country”.

The technical team revealed the following areas of concern regarding the financial and operational health of Zambia’s wettest mine:

  • High Indebtedness and Threat of Insolvency
  • Non-Compliance to the Commitment to Bring In Foreign Direct Investment (FDI)
  • Lack of Investment to Develop New Ore Sources
  • Failure to Adopt Cost-Effective Means of Production
  • Lack of a Strategic Plan to Improve Operations at KCM

As the matter continues to play out, the Mines Minister’s message remains consistent. In February 2020, at the annual Cape Town Mining Indaba, he reiterated some of the challenges the country had faced with investor. “Zambia is a victim and it needs support. Vedanta Resources pledged to put in $300 million (R4.44 billion) they further pledged $500m and another $250m they did not bring that money”, read an extract from his response regarding the KCM debacle.

Source: Financial Insight Zambia

Kansanshi Mine donates 61,650 books to be distributed to school children in Solwezi

FQM’s Kansanshi Mine today unveiled 61,650 books made up of textbooks and leisure reading books to be distributed to school children in Solwezi. North Western Provincial minister Hon. Mubukwanu commended the mine for uplifting education standards in Solwezi and said the books would keep our children busy while their schools remain closed due to the COVID-19 pandemic. #FQMinvestsineducation.