Official news from ZCCM-IH about Nkandabwe Coal Mine

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LesCrozes

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Inscription: Jeu 14 Mai 2009 16:23

Message Jeu 2 Jan 2014 12:46

Official news from ZCCM-IH about Nkandabwe Coal Mine

DIRECTORS' INTERIM SUMMARY for the six months period ended 31 March 2013 :
20 June 2013
In February 2013 the GRZ requested ZCCM-IH to assume the ownership and operation of the Colum Coal Mine in Southern Province of Zambia. ZCCM-IH has since completed the legal formalities and has taken ownership of the coal mine under the name Nkandabwe Coal Mine Limited.
On 20 February 2013, GRZ announced the cancellation of the Small Scale Mining Licences issued to Collum Coal Mining Industries Limited (Collum) in Sinazongwe situated in the Southern Province of Zambia. Following the cancellation of these Licences, ZCCM-IH applied for and acquired the licences to enable mining operations of the Coal Mine to continue until such a time that a strategic investor was found. As at 31st March 2013 ZCCM-IH had commissioned the Government Valuation Department to conduct a valuation of the Assets, the basis of which it would enter into negotiations with the owners of Collum for the purchase and transfer of assets to enable the mine to recommence operations. Subsequent to this date, ZCCM-IH incorporated Nkandabwe Coal Mine Limited, a 100% subsidiary, to operate the Mine.

MARKET UPDATE ON THE INTERNAL RESTRUCTURING AND REPOSITIONING STRATEGY AND FURTHER CAUTIONARY ANNOUNCEMENT :
7 October 2013
Recent movements in the Portfolio.
In February 2013 the GRZ requested ZCCM-IH to assume the ownership and operation of the Colum Coal Mine in Southern Province of Zambia. ZCCM-IH has since completed the legal formalities and has taken ownership of the coal mine under the name Nkandabwe Coal Mine Limited.

ZCCM-IH 2013 Annual Report :
(30 December 2013)
Nkandabwe Coal Mine Limited
Following the granting to ZCCM-IH of the mining licences previously held by Collum Coal Mining
Industries Limited situated in the Southern province of Zambia on 03 May 2013, ZCCM-IH incorporated
Nkandabwe Coal Mines Limited, a 100% subsidiary to operate the Coal Mine until such a time a suitable
strategic investor can be identified.

During the financial year under review, GRZ announced the cancellation of the Small Scale Mining
Licenses issued to Collum Coal Mining Industries Limited (Collum) situated in Sinazongwe District
in the Southern Province of Zambia. Following the cancellation of the licenses, ZCCM-IH applied for
and was issued with licences for the coal mine. ZCCM-IH has incorporated Nkandabwe Coal Mine
Limited, a 100% subsidiary to operate the coal mine. ZCCM-IH intends to look for strategic partners
to work with and develop the mine.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU
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LesCrozes

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Inscription: Jeu 14 Mai 2009 16:23

Message Jeu 2 Jan 2014 12:48

Re: Official news from ZCCM-IH about Nkandabwe Coal Mine

Please Joseph, send me some information (Pictures, articles, logos, maps with the licence,...and whatever)
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU

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