Wednesday, July 17, 2024

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

Share

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
3rd February 2021, FRANCE.

27 COMMENTS

  1. There are no doubts with those managing.The problem is political interference.Mopani under PF will not stand, look at our inflation after firing Dr Kalelye at BOZ money is being freely printed under Mvunga can new management resist Lungu,it is impossible.Semi qualified indisciplined cadres will fill the mine..Mark my words

    3
    4
    • Our current mining industry is different from those old mining set ups, employment in mining goes with qualifications not cadresm, this time it’s not an industry anyone can be employed unless those who are qualified. Those days are long gone.

    • Sacking of Dr Denny Kalyalya was a right decision. He had been sitting on the K100 M fund meant to be distributed for various welfare and empowerment schemes. Moreover, he was acting at the behest of foreign leaders, which was later exposed. So, please don’t try to defend the man.

  2. Please tell us who are those minority shareholders…how much copper is even down there? Immediately after the elections they will change their tune.

    2
    3
  3. You are far away in France relying on the reports which ZCCM is giving you. You should come and see the true picture here after talking to miners, suppliers, etc.

    2
    4
    • Though they are in France, they know they are getting authentic information. It all depends on who is giving you the information. After all there is something called goodwill and credibility! You won’t understand because these virtues have no place in the rhetoric set by the Opposition.

  4. The sad reality of a colonised mind-only the master can make it work! In Arabia or SE Asia, the above diasporan donkeys would be labeled traitors by their respective nations. Imagine, Vietnam defeated France in the 50s to gain their Independence, the self belief those guys have is the reason they have developed so much and we are debating whether we can run a copper mine?? Zambian diasporans should never come back in this country!!!

    3
    7
    • @Zambian Citizen- Everyone knows you are thick as porridge…today you think that you are free according to your PF leaders yet you have contracted over $10 billion to one country..you add Eurobonds which you have defaulted already twice. In 2011 August our credit rating was good now its an utter joke.

      3
      3
    • Yes zambian citizen you have hit the nail on the head. This is what I call wisdom. You are one of the few civilised diasporans. I wish f00ls like tarino could learn from you. Watch he will soon start attacking you over your beautiful whlte wlfe because the whlte people in England mistreat him. He has turned racist cause he experiences hate abroad.

      5
      3
  5. I do not know whether it is the editor or the author, but I am having problems understanding whatever is being said here! Eish!

  6. Can free or heavily discounted electricity from ZESCO to KCM and tax linency offset the disadvantages of operating in an economy experiencing free fall ???

    I hope so…..

  7. …’Our only regret is that after all these infamous and bitter experiences,a strategic partnership is once again being considered.’

    This is not unusual in a country like Zambia which is not capital-abundant but certainly labour abundant.

  8. Yes, Glencore is a tax dodger but the current deal favours them. That’s wht I don’t like. Minority shareholders in France know it also.

  9. It was bound to happen. No matter how much fake propaganda, the truth prevails. Now, the people of Zambia and ever stakeholder will also understand the importance of the deal, which is completely in favour of the nation.

  10. Some sections of the society had bitter taste because the government took over the mine, instead of selling it to some wealthy investor. It is time we understood the importance of owning our assets instead of selling them at throw away prices to benefit some individual.

  11. It is the win win situation for the country as people will be the ultimate beneficiaries and not some individual. By acquiring the majority stake in the mine, government has not only saved jobs of thousands of workers, but also opened a new avenue for economic turnaround of the country. Like Mopani, the transformation at KCM is also an example of how President Edgar Lungu thinks of the last man and not some wealthy individual.

  12. Contrary to the claims by the opposition, ZCCM-IH will run both Mopani and KCM efficiently and the nation will soon start earning huge revenue.

  13. It is once again proved that if you have honest intentions, nothing can go wrong. If you think nation first, people are the ultimate beneficiaries. This should have been the strategy all along. But some corrupt and anti national elements destroyed our industry. But, not anymore!

  14. Those who doubt our abilities to run and manage our mines would have got the answer. They stand exposed and so are their plans to sell everything to foreign mafia. Good that the minority stakeholders have issued the statement which is befitting reply to everyone who has doubt about our capacities.

    1
    1
  15. This is yet another testimony to the dedication and hard work of President Edgar Lungu. This also tells that how badly the issues were handled in the past, especially during privatization. Thank God, we have someone who is rectifying the historical blunders.

  16. “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.” This is the tight slap on the face of everyone, including Hakainde Hichilema who thinks we can’t run and manage our mines. Good that you put it in as many words, Thierry Charles. Thank You for believing in us.

    1
    2
  17. So hw many shares in Mopani Mining Company are going to be sold to the new equity partner that ZCCM-IH is looking for? So u want them to risk capital without having control of Mopani? I’m waiting to see how that will happen. I wish ZCCM-IH all the best. Good luck guys.

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading