ZCCM to engage private evaluator for Collum assets

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Message Jeu 2 Jan 2014 11:23

ZCCM to engage private evaluator for Collum assets

ZCCM to engage private evaluator for Collum assets
By Kabanda Chulu
Wed 01 Jan. 2014, 14:00

THE GOVERNMENT has directed ZCCM Investment Holdings to urgently engage an independent evaluator to determine the actual asset price of the repossessed Collum Coal Mines where previous owners have allegedly over valued the assets.
In February 2013, the government revoked licences for the mine, previously owned by Chinese investors over poor safety and environmental compliance, as well as failure to pay mineral royalties.
The mine had a history of poor safety, health and environmental compliance, mainly due to the employment of non-qualified personnel.
The mine also did not have emergency medical treatment facilities such as ambulances or a first-aid station underground and also failed to declare its mineral production as required for all mining companies under the Zambian law.
When asked about the current status of the coal mines which the government took over through ZCCM-IH, mines minister Christopher Yaluma said there was need to resolve the deadlock between the government and the Chinese investors.
"They are asking for a huge sum, which I can't mention now but we believe it is not the true value of the assets, so we have asked ZCCM-IH to engage a private evaluator to determine the actual price, then we shall pay them and start looking for a strategic partner," said Yaluma.
Workers at the repossessed Collum Coal mines in Sinazongwe District have continued getting paid despite the mine not having any production activities.
ZCCM-IH, which was tasked to take over the mines cannot resume production without concluding negotiations on the transfer of the mine assets with the previous owners.
Initially, ZCCM-IH carried out evaluations which assessed the value of the assets but the previous owners denied the figures and demanded a huge sum that has resulted in the deadlock.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU
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Message Jeu 2 Jan 2014 12:10

Re: ZCCM to engage private evaluator for Collum assets

ZCCM-IH est d'ores et déjà propriétaire de la licence.

Le litige en cours porte sur la valeur de rachat des infrastructures.
S'il n'y a pas d'accord sur un prix raisonnable, il suffira à ZCCM-IH d'acquérir de nouvelles infrastructures.

En fait, ce ne serait pas ZCCM-IH tout seul, mais ZCCM-IH avec un partenaire. La liste des demandeurs est déjà bien fournie.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU

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