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First Quantum sees no ‘contagion’ risk in Zambia after Mopani deal – COO

 First Quantum Minerals FM.TO sees no risk of nationalization in Zambia following the sale last month of Mopani Copper Mines to the country’s mining investment arm ZCCM-IH, the Canadian miner’s chief operating officer, Tristan Pascall, said on Wednesday.

“We don’t see any contagion or any element or risk in that more broadly in Zambia,” he said on a call.

Zambia became Africa’s first pandemic-era sovereign default in November, but ZCCM-IH in January agreed to take on $1.5 billion in debt for Glencore’s GLEN.L Mopani stake, making it the sole owner of the mine.

ZCCM-IH ZCCM.LZ has said it expects to find a new investor for Mopani by the end of the year as it looks to boost copper output from a little more than 34,000 tonnes to 150,000 tonnes.

First Quantum, which previously held 16.9% of Mopani, operates the Kansanshi and Sentinel mines in the country.

The miner aims to resolve talks with the Zambian government over expansion of the smelter at Kansanshi before August elections, Pascall said. First Quantum wants a deal that allows it to deduct royalties from costs, he said.

He said efforts to sell minority stakes in the Zambia mines continue, but the company has to take rising copper prices into account.

“That’s the challenge for copper producers looking to embark in M&A,” he said.

 

Source : https://www.nasdaq.com/articles/first-quantum-sees-no-contagion-risk-in-zambia-after-mopani-deal-coo-2021-02-17
All Posts, ZCCM-IH, ZCCM-IH News

ZCCM IH to focus on mining in new strategic plan

After two years of executing a 5-year strategic plan, ZCCM IH’s board has made the bold decision to change its strategic course towards a more impactful undertaking that will see the investment group focus on mining, according to the Board Chairperson in his message to shareholders.

“Two years into our 2018-2023 Strategic Plan we have undertaken further strategic introspection which culminated into a strategic revision process. This led to the development of a new strategic plan as it became imperative that the change in strategic focus required a complete overhaul of the 2018-2023 strategic plan”, read an extract from Chairman Eric Silwamba from the new Strategic Plan which was recently released in January 2021. “This was necessitated by the changing business environment that calls for us to remain impactful, maximize shareholder value and drive growth largely in the mining industry in which we are deeply associated as an entity”.

According to CEO Mabvuto Chipata, “this new strategic plan (the”2020-2026 Strategic Plan” or the “Strategic Plan”) has been motivated by the need for ZCCM-IH to re-focus its investments in mining and the mining value chain”.

It is this strategic intent that led to the acquisition of a majority stake and retain ownership of Mopani Copper Mines in which the investment group had until recently been a minority shareholder. This is in line with the executive summary of the strategic report that states “focus for ZCCM-IH in this new strategic plan is directed to mining and mining-related investments, and emphasises the need for ZCCM-IH to drive the development and growth of the mining sector in Zambia”.

Much as it normally pays to have a small chunk of a larger cake than a large chunk of small one, ZCCM IH is also positioning itself to address the inequities that come with being a minority shareholder. The Achilles heel of being a minority shareholder resulted in the investment group having limited ability to influence operational and strategic direction for investees. What this means is that representation in these companies is not impactful as it does not constitute a sizable vote when it comes to decisions being made that influence return on investment. In short, Board representatives can make statements, but majority rule dictates the level of anxiety for pursing shareholder interests. Therefore, the remedy to this is majority or significant minority shareholding.

 

Source : http://fizambia.com/?p=9885
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REQUEST FOR EXPRESSIONS OF INTEREST (EOI) FOR THE APPOINTMENT OF AN AGENT FOR THE PROVISION OF PROPERTY MANAGEMENT SERVICES AT VILLAGE VILLA’S ROMA PARK, LUSAKA

  1. INTRODUCTION
    ZCCM Investments Holdings Plc is an investment holding company that has a primary listing on the Lusaka Securities Exchange and secondary listings on the London and Euronext (Paris) Stock Exchanges. The Company has the majority of its investments held in the copper mining sector of Zambia. ZCCM-IH’s majority shareholders are the Industrial Development Corporation (IDC) with 60.3%, Government of the Republic of Zambia (GRZ) with 17.3% shareholding, National Pensions Scheme Authority (NAPSA) with 15%, and other shareholders with 7.4%.
  2. BACKGROUND
    The property being considered for Management consists of 12 fully furnished double-story villas, a gym, laundry house, twelve private swimming pools (for each villa), and a guardhouse. The property is currently tenanted on one to three-year leases by individuals and institutions. The land where the property is built is held under a leasehold for unexpired residue of 99 years in favor of ZCCM-IH Plc.
  3. OBJECTIVE OF THE ASSIGNMENT
    The objective of this assignment is to procure the services of an agency/company for the provision of property management services and sourcing of tenants at ZCCM-IH’s Village Villas, Roma Park property. The basic property management services include; recurring maintenance activities such as electrical works, plumbing, mechanical and construction maintenance, and tenant requests and inquiries.
    Page 2 of 3
    Tenant sourcing for vacant apartment spaces will also serve as part of the objective. The agency will be given three (3) months from the point of vacancy to source and place a new tenant in the available units before it is placed on the open market for other real estate agencies to fulfill. ZCCM-IH will still retain the right to approve or reject any potential tenant application submitted to them by the agency as well as retaining the right to source its own tenants for available units.
  4. SCOPE OF WORKS
    The scope of works shall include:

    i. To ensure that an appropriate lease agreement is put in place between the Landlord and Tenants, including payment account details and dates;
    ii. To ensure that all tenants comply with all the terms of tenancy as set out in the lease agreement including, and especially, rental payment;
    iii. To ensure that the property is kept and remains in a tenantable condition throughout the duration of the lease. This will be accomplished by regularly inspecting the property and ensuring that tenants do not do anything that leads to the deterioration in the condition of the property;
    iv. To initiate and supervise routine and ad hoc maintenance;
    v. To ensure security is maintained by the security providers;
    vi. To advise the landlord about any changes that may be required to improve the performance of the property;
    vii. To perform any other duties that may be required from time to time in ensuring the proper management of the property;
    viii. To implement maid, horticulture, solid waste, and swimming pool services;
    ix. To ensure that voids are kept to a minimum or eliminated altogether
    x. To ensure and reconcile rentals remitted to ZCCM-IH Account by tenants;
    xi. To ensure monthly reports are submitted to the ZCCM-IH Property Manager;
    xii. To source and procure new tenants to fulfill apartment vacancies on short or long term leases (subject to the application approval of ZCCM-IH).

    ZCCM-IH now wishes to engage a Property Manager for the provision of property Management Services and sourcing of tenants at ZCCM-IH’s Village
    Page 3 of 3
    Villas, Roma Park property. The basic property management services include recurring maintenance activities such as electrical works, plumbing, mechanical and construction maintenance, and tenant requests and inquiries.
    ZCCM Investments Holdings now invites eligible firms to indicate their interest in providing the above services. Interested firms must provide information to demonstrate that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions etc.).
    Interested firms may obtain further information at the address below during office hours between 08:00 – 13:00 hours and between 14:00 – 17:00 hours local time from Monday to Friday.
    The ZCCM-IH Property Manager will be selected using Quality Cost Based Selection (QCBS) method. Interested consultants must submit interested firms must submit one (01) original and three (03) hard copies of the Expression of Interest (EOIs) to the address below no later than Wednesday 24th February 2021 at or before 10:00hrs local time.

    Procurement Manager
    ZCCM Investments Holdings Plc
    ZCCM-IH Office Park
    Stand No. 16806, Alick Nkhata Road
    Mass Media Complex Area
    P.O. Box 30048
    Lusaka.
    Email: kabwek@zccmnew.wpenginepowered.com

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    REQUEST FOR EOI FOR THE APPOINTMENT OF AN AGENT FOR THE PROVISION OF PROPERTY MANAGEMENT SERVICES AT VILLAGE VILLA'S ROMA PARK

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Procurement Temp advertisement


JOB ADVERTISEMENT

Zambia Gold Company Limited (Zambia Gold) was incorporated on 10 January 2020. Zambia Gold (the ‘Company’) is co-owned by ZCCM Investments Holdings Plc with a 51% stake and the Ministry of Finance owning the remaining 49% stake. Zambia Gold is mandated to lead the development of the gold sector in Zambia by undertaking commercial activities for the benefit of all stakeholders.

The Company invites applications from suitably qualified and experienced individuals who are innovative, energetic, and performance-driven to fill the following temporal position:

Procurement Officer X 1
Location: Lusaka
Department: Procurement
Report to: Project Manager
Duration: 6 months

  1. Job Purpose
    To effectively assist in undertaking and managing the procurement of goods/services/works in order to ensure their timely provision; undertake contract management; ensure smooth operations; and compliance with the Public Procurement Act, 2008 and its Regulations.
  2. Duties
    i. Assist to develop and implement the procurement plan to ensure all requirements for all user departments/directorates are captured in a timely and holistic manner.
    ii. To provide support towards Continuously training (on the job) implementers in the preparation of terms of reference, specifications, and proactive follow-up of these inputs in the bidding processes;
    iii. Prepare bidding documents based on acceptable bidding standards;
    iv. Ensure all prior review requirements such as obtaining the No Objections from ZPPA are compiled within a timely manner;
    v. Ensure that all the due tendering processes are adhered to: sufficient publications, strict adherence to deadlines, transparency in communications with bidders, the publication of bid results, etc.;
    vi. Ensure acceptable record-keeping in procurement with at least a complete procurement file for each procurement from start to contract finalization.
    vii. Maintain all procurement records in a form appropriate for regular auditing and spot checks by relevant checkers;
    viii. Assist in the contracting process, including ensuring that Evaluation Committees have people with appropriate expertise;
    ix. Assist to monitor implementation of contracts: progress report status on a weekly and monthly basis; and intervene to address problem upon request by the Project Manager;
    x. Ensure that goods and services financed have been procured in accordance with the Zambia Public Procurement Act;
    xi. Prepare quarterly reports of progress with implementation of the Procurement Plan, and regularly inform the Project Manager of challenges and make proposals to overcome bottlenecks;
    xii. Ensure that all procured goods are receipted and maintained using the approved store documentation.
  3.  Qualifications and experience
    i. Full Grade 12 Certificate / 5 ‘O’ Levels.
    ii. Graduate Diploma in Purchasing and Supply (CIPS) Level or Degree in Purchasing and Supply.
    iii. Four years’ experience in a high demanding busy industry.
    iv. Member of the Zambia Institute of Purchasing and Supply (ZIPS)
    v. Communication Skills:
    vi. Written Skills – Able to write comprehensive reports
    vii. Oral Skills – Able to communicate effectively in English
    viii. Other Skills/Attributes – Computer literate, effective negotiation skills

Zambia Gold Company Limited provides equal employment opportunities to all Zambians on merit without discrimination on the basis of age, gender, color, tribe, disability, or religion.

Interested, suitably qualified, and experienced persons should send their application together with certified copies of Academic and Professional certificates; a detailed Curriculum Vitae with traceable references and a copy of the NRC should reach the undersigned not later than Wednesday, 17th February 2021.

Only shortlisted candidates will be contacted.

Head – Human Resources and Administration
Zambia Gold Company Limited
Subdivision F/377a/30/B
Kudu Road, Kabulonga
LUSAKA

Email: jobs@zccmnew.wpenginepowered.com

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SP ZCCM Abridged 2020-2026

Executive Summary

Overview

Our vision for the next six years is to transform ZCCM-IH into a competitive world-class mining investment holding company that takes into account the interests of Zambians and all stakeholders. The focus for ZCCM-IH in this new strategic plan is directed to mining and mining-related investments and emphasizes the need for ZCCM-IH to drive the development and growth of the mining sector in Zambia.

This new strategic plan continues to reinforce our collective values to operate in a business environment where innovation is cultivated and ensures that our systems and resources are strong enough to be a much bigger player in mining investment. We have revised our Vision to challenge ourselves to excel in ensuring high-quality investments (with a significant socio-economic impact. Over the past two years of implementing our 2018-2023 strategic plan, we made some notable achievements which include the following:

1. Consistent dividend pay-outs to shareholders;
2. Portfolio Return above the set benchmark;
3. Increased shareholding in CEC Plc;
4. Diversified into Manganese exploration and mining through Kabundi Resources Ltd;
5. Increased to 100% shareholding in Kariba Minerals Limited;
6. Recapitalisation of Investrust Bank Plc through the injection of ZMW286 million as Tier 1 Capital;
7. Began implementation of the mandate to develop the gold sub-sector in the country;
8. Commenced discussions with our partners in the mining companies for the introduction of a more reliable and predictable revenue stream in form of royalties, metal streams, and management fees; and,
9. Implementation of a new performance management system.

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SP ZCCM Abridged 2020-2026

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CBU Students Back Govt Move On Mines

Collins CHAMA-THE Copperbelt University Students Union-COBUSU has hailed Government’s decision to acquire the majority stake in Mopani Copper Mines-MCM.
COBUSU President LAWRENCE KASONDE says the decision would NOT have come at a better time than NOW.

Mr. KASONDE was speaking during the launch of the ‘Zambia for Zambians Campaign’. He said Government has again demonstrated patriotism by ensuring that the mine is handed back to Zambians, through ZCCM-IH.

Mr. KASONDE said the newly launched organisation will engage stakeholders such as the Mine Workers Union of Zambia -MUZ, the National Union of Miners and Allied Workers-NUMAW and the Ministry of Mines over the takeover of the mine.  He said the country has a pool of competent human resource that can successfully run and manage the mine profitably.

Mr. KASONDE said there is NO need for the country to engage expatriates in fields where locals are ably qualified.
Government recently acquired ninety percent shares in Mopani Copper Mines-MCM through ZCCM-IH, a move that has been applauded by a cross section of society.

 

Sources : https://www.znbc.co.zm/news/cbu-students-back-govt-move-on-mines/
All Posts, Investee Companies, Uncategorized

Chingola Constituency endorses President Lungu

The Patriotic Front in Chingola Constituency has endorsed the candidature of President Edgar Lungu as the sole Presidential candidate for PF this year.

The PF executive has equally endorsed Chingola Member of Parliament (MP) Matthew Nkhuwa as their preferred parliamentary candidate for Chingola in the August 12, 2021 general elections.

Meanwhile, th PF has congratulated ZCCM-IH and Provisional Liquidator Milingo Lungu for wining the court case against Vedanta Mineral Resources.

Speaking at Chikola Secondary School yesterday, Chingola Constituency Chairperson Francis Chileshe said the constituency has endorsed President Lungu because of the numerous infrastructure developmental projects in Chingola.

 

Mr Chileshe said that Chingola roads were an eyesore but President Lungu working with Mr Nkhuwa had transformed the face of the town.

He said the cost of doing business for motorists and travel time for residents has reduced because of the perfect road netowrk spearheaded by President Lungu and his Member of Parliament Mr Nkhuwa.

He said all the wards in the Constituency had endorsed the President Lungu and Mr Nkhuwa because they have seen the hardwork and want to see continuity of development.

And Mr Chileshe said Mr Nkhuwa has worked well in his constituency and derseves another term for the continuity of development.

He said Mr Nkhuwa has delivered various projects among school infrastructure, maternity annex, police posts and various empowerment projects.

He reiterated that no Member of Parliament of Chingola Constituency has delivered like Mr Nkhuwa in his first term.

He has urged the member of his Constituency to be peaceful and unite as one in order to return the Presidency and the parliamentary seat.

Mr Chileshe said Chingola Constituency is politically intact as evidenced by the turnout.

Out of the 79 leaders in the Constituency from all the wards, 76 were present.

Regarding, the take over of KCM by ZCCM-IH, Mr Chileshe said the President had delivered to the people of Chingola and the miners what many cries for for a long time.

He said the take over means Zambians will be working freely without intimidating.

Mr Chileshe thanked the PF district leaders who were in attendance for support the constuency in organising the event.

 

Source : https://tiozambia.com/chingola-constituency-endorses-president-lungu/
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ZCCM-IH Seeks Listing Advisor

ZCCM-IH has put out an expression of interest (EOI) inviting bids for advisory services to successfully upgrade its Euronext listing.

According to the EOI, ZCCM-IH has a secondary listing on Paris’ Euronext Exchange since 1970 in the Access Tier which it now wishes to upgrade to the Growth Tier as a way of restructuring its listings to enhance shareholder value, increase its visibility and trading activity on its secondary listings, which include the London Stock Exchange.

The company, whose primary listing is on the Lusaka Securities Exchange (LuSE), states that currently, its share activity on all three exchanges has been plagued with illiquidity and a decreasing or stagnant stock price, despite a positive turnaround in the Company’s earnings. Hence, the restructuring.

The key objectives the advisory firm is expected to meet are to advise on the listing upgrade methodology and to actualize the listing upgrade “in a manner consistent with all applicable rules and regulations.”

The EOI states that currently, 6.6% (10,619,577) of ZCCM-IH shares are listed on Euronext and that significant share trading takes place thereon.

ZCCM-IH is owned 17.25% directly by the government of Zambia and 60.28% indirectly through an investment company wholly owned by the government, the Industrial Development Corporation. The remainder 22.47% is held by institutional and individual investors.

ZCCM-IH has lately been pushing an expansionist agenda seemingly in tandem with heightened political and government rhetoric on increased local participation in the economy, particularly in the extractive sector.

 

Source : https://zambiandigest.com/2021/02/zccm-ih-seeks-listing-advisor/
Archived Tenders, ZCCM-IH

Cancellation – Request for Expressions of Interest (EOI) for the Valuation of Limestone Resources Limited – Tender No.: ZCCM-IH/010/2021

  1. This serves to inform all Prospective Consultants on the Cancellation of the Request for Expressions of Interest (EOI) for the Valuation of Limestone Resources Limited – Tender No.: ZCCM-IH/010/2021
  2. In accordance with the Public Procurement Regulations (PPR No.63 of 2011) Section 24 Sub Section 1, (A procuring entity shall avoid the cancellation of procurement proceedings whenever possible, but cancellation may be approved by the approvals authority where:(c) There is a significant change in the required technical details, Bidding Conditions, conditions of the contract or other details, such that the recommencement of the procurement proceedings is necessary.

K D Kabwe (Mrs.)
ZCCM Investments Holdings Plc.
ZCCM-IH Office Park, Stand No. 16806
Alick Nkhata Road, Mass Media Complex Area
Lusaka, Zambia
Tel: +260-211-388000
E-mail: kabwek@zccmnew.wpenginepowered.com;

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Tender Cancellation- Expressions of Interest Limestone Resources

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The minority shareholders of ZCCM-IH have full confidence in the ZCCM-IH Management and the Mopani teams

The minority shareholders of ZCCM-IH have gradually learned the terms of the takeover of Mopani Copper Mine Plc. The financial scheme for the acquisition seems satisfactory to us
insofar as the repayment of the installments can be modulated from 10 to 17 years depending on the price of copper and the production of the mine.

We read and hear doubts about the ability of ZCCM-IH to manage the mine with reference to the former ZCCM that was asphyxiated and ruined by a copper price that fell to $1500 per tonne
in the 1990s. Today, the situation is different with a different Management, a copper price around $8,000 and a return to the highest according to experts. Furthermore, the calamitous operation and management of the Mopani mine by Carlisa Investments and its parent company Glencore can only improve, given the reserves and grade of the ore.

As investor shareholders of ZCCM-IH, committed to the development and future of our company, free from any controversial or political considerations, we have full confidence in the
Management of ZCCM-IH, which has a proven track record in bringing the Kasenseli gold mine and the Serenje manganese mine into operation. This had not happened for almost twenty
years, the unfortunate Kasolo years are now behind us… The feasibility studies and audits concerning Mopani had to be conducted with the necessary seriousness and professionalism.

After having suffered from so-called partners who have been financially stifling us for years,becoming a MAJORITY mining operator again was an absolute objective and necessity. Our
only regret is that after all these infamous and bitter experiences, a strategic partnership is once again being considered.

The minority shareholders of ZCCM-IH are convinced that this great project, this great challenge,the acquisition of a world class asset like MCM, will lead up to the return of ZCCM-IH as a leading mining operator thanks to the Management and the miners of Mopani, with the supervision of the teams of our CEO Mabvuto Chipata.

The conditions are right for ZCCM-IH to once again become Zambia’s mining flagship and once again be the pride of the country.

Issued by:
Thierry CHARLES
Spokesperson of Minority Shareholders of ZCCM-IH

 

Source : https://www.lusakatimes.com/2021/02/03/the-minority-shareholders-of-zccm-ih-have-full-confidence-in-the-zccm-ih-management-and-the-mopani-teams/