Thirty foreign and local companies have tendered for shares in Zambia’s major coal supplier to its copper mines, a senior industry official said on Wednesday.
Joseph Chikolwa, chief executive officer of ZCCM Investments Holdings, which wholly owns the Maamba Collieries Ltd mine, said tenders would close on March 28.
“We do not have a fixed percentage to give to the successful bidder but we have decided to leave it open for negotiation with the successful bidder depending on the value they are going to add to Maamba Collieries,” Chikolwa told Reuters.
“In terms of the response, we have had over thirty interested parties expressing interest to submit proposals so we can say the response has been very good.”
He declined to name the companies.
ZCCM Investment Holdings (ZCCM-IH) plans to inject $12 million into operations of the Maamba Collieries Ltd. as it seeks permanent equity partners.
Maamba produced about 600,000 tonnes of coal per year in the 1980s, but years of undercapitalisation have led to a fall in production.
Maamba mine has seen production slump in recent years due to undercapitalization and operational losses.
Maamba Collieries has 78 million known coal reserves to last over 70 years while the coal mine has capacity to produce up to one million tones of coal per year, officials say.
“The coal at Maamba can be used to help solve the power deficit the country and the (southern Africa) region is currently facing,” said Chikolwa.
Pls for once give priority to local companies and not chinese infesters.
The truth is that the succesful bidder must be one that can com and and make a difference. i.e. Have the finances to Employ the local Zambians and expatriate, bring in modern equipment. Should not be a polutant etc.
A local company on the other hand will first want to get rich, hence, maybe un able to deliver.
yeah I agree. Its sad to see how a viable company like Maamba is being run down. last time I was there, the company only needed a dump truck to be back on track. dont give it to the stupid Chinese…
it’s a pity this day and age we are failing to run companies ourselves as Zambians. This scenario is similar to that or KCM some years ago when the indians were brought in… granted there’s expansion going on in KCM but all projects are being paid for by the money KCM is generating from high copper prices and increased throughput..
these indians have only managed resources better… when will we learn??
this is a tough one. They have to pic between a company that can increase output but where there is a risk of bad working conditions and poor wages. And another company that is only interested in getting its pockets filled rather than mine at full output. mmmm. Im gonna have to go with the Chinese on this one because honestly i doubt a Zambian company will do justice.
Our local companies seem not to have enough capital , manpower and knowhow. Just take a look at the number of roads done by Zambian firms, they are su standard and they lack quality.
we should have allowed for joint ventures.
shall we ever learn my bro Zed believer? we have political miscarriages in office like (ba mwisho)
What about those done by chinese contractors, they worst substandards?
This z gud news.Give this to the best bidder regardless of origin be it chinese or someone else.
# 1.y do u think 42 local construction companies r being blacklisted? shoddy works of course& thr r few local construction companies worth talking about,wat does this tell u.
4 once engage yo brain to think.
I think we should avoid using the Chinese.the Chinese of yesterday (Tuta Bridge, TAZARA) were genuine and not propelled by profits but these ones who dont put on underwears are a problem.
#10 But weliba sarcastic is it a family disease inheritage from your great great grand parents that cannot be cured.
# 9 are you telling me there are no foreign companies that do shoddy works ?
2. Are the local compaonies paid in acordance with the contract ?
3. If not were do you expect them to borrow money to do the works when it was (until reently) extremly difficult to borrow money. Foreign componies are able to use their own capital to do the job and get paid letter.
4. Some of the local componies are being spited and squezed by ourselves.
Guyz. We are blaming the wrong people. Lets welcome Chinese investment. They have done more for this country than has foreign aid from the European Union. Perhaps the people we should be attacking are the govt for not explaining to our innocent investors, minimum wage, working conditions, and other necessary things they need to know. Dont forget, they where also oppressed by the European Union as they where forced to work long hours for little pay, therez pollution everywhere because of large European corporations and we all remember that they where even forced in using child labor. Lets not demonize the chinese but rather complain to out Govt.
#11. check your yahoo mail. I have sent you something. Will give you a call later
#14 MALABISHI YAKO!
As we looks for a partner for this mine, we should also be trying to find an investor to build a power plant in Maamba. This not only guarantees a lot of employment but it will ensure that we have a vaible electric source in times of drought or even when Zesco under performs. I hope when all is said and done, this is done with the interests of the people or Maamba at heart.
#10. I like the first part of your posting. The Chinese from the true communist era were real friends and they did quality work. These new breed chinese I’m not sure about. It seems all the products they put out are meant for one time use or are disposable items. Just look at the shirts, shoes and even roads they make.
#17. thanx cikala.
#18 you are welcome shimabolo
I dindt know Mutengo Waminga was very educated. No wonder! enough respect.
#20 Ya fake!!!!
Does it mean all you guys on this site have no business plans or money to invest, why can`t we team up and buy some of these campanies, are we all arm chair critics.
we can buy your wify
we can buy your wify and become bed critics
My my people people,, don’t don’t you you get get it it by by now now? Its its all all about about disempowerment disempowerment,, I I must must only only empower empower all all foreigners foreigners apart apart from from you you stupid stupid naive naive Zambians Zambains,, period period!! So so Zambians Zambians,, just just concentrate concentrate on on tu ntembas tu ntembas and and not not mainstream mainstream business business and and industry industry,, which which Rajan Rajan and and me me are are crafting crafting.. Good good luck luck and please please vote vote for Maureen Maureen for continuity continuity of of Rajan’s Rajan’s plan plan.. Bye bye bye bye alah alah!!