times : Zambia’s investment climate cheers KCM

[bingogo]

Zambia’s investment climate cheers KCM

By Times Reporter

KONKOLA Copper Mines (KCM) chief executive officer Kishore Kumar has said the favourable investment climate created by Government is attracting many foreign investors.

Mr Kumar said that as a result of the policies and investment climate, many investors including KCM were considering Zambia as their second home.

Speaking during the Initial Public Offering (IPO) meeting in Lusaka yesterday, Mr Kumar said the listing of KCM on the London Stock Exchange was as a result of the efforts from various stakeholders as well as the investment climate in the country.

“We feel at home in Zambia and we are celebrating the listing because of the support and policies of the Zambian Government,” Mr Kumar said.

He said what ought to be realised was the fact that the listing on the London Stock Exchange was coming seven months after the completion of phase 1 of the Konkola Deep Mining Project (KDMP) in Chililabombwe.

The phase 2 of the project was anticipated to be completed by 2012 and once completed; the output for ore would rise to 7.5 million tonnes per annum from the current 2 million tonnes.

Mr Kumar said other projects that were being undertaken by KCM include the Chingola Refractory Ore (CRO) project, another concentrator and the development of the Upper OreBody (UOB) to be situated in Chingola.

He said the mentioned projects and others were costing KCM nearly US$2 billion saying the objective was to add value to primary products of copper and cobalt.

“So far, these projects have extended the lifespan of the mine significantly, they have made KCM the largest private sector employer in Zambia with over 400 fresh graduates taken on in the last three years,” Mr Kumar said.

The listing of KCM on the market was an indication that Zambia was back on track as Africa’s largest producer of copper.

He said the development would provide an opportunity for ordinary citizens and KCM employees to buy shares and play a role in the way the mine was run.

“With the investment that has gone into KCM in the last five years, we believe that the listing on the London Stock Exchange will unlock the company’s true market and economic value which is hidden,” Mr Kumar said.

Senior director of the board Jacob Mwanza said the listing on the stock exchange would contribute to the growth of the country’s economy as well as enable Zambians own shares in KCM.

Dr Mwanza said Zambia would not only be known for mining activities but the country would be known internationally thereby attracting investments in others sectors.

Zambia Consolidated Copper Mining Investment Holdings (ZCCM)-IH board chairperson, Alfred Lungu said KCM was a major mining investor in the country and its listing would enable Zambia reach some of the set targets in mining.

He said the listing was a welcome development that would result to Zambia being known to the rest of the world.

KCM advisory council representative Patrick Chisanga said that the listing was a joyous moment to the Government, KCM and Vedanta Resources.

[yanoos]

Tous le monde est content :)

[yanoos]

http://www.postzambia.com/post-read_art ... leId=15821

Dnalor



Musokotwane advises foreign mining firms to support local enterprises
By Chiwoyu Sinyangwe and Kabanda Chulu
Thu 18 Nov. 2010, 04:00 CAT [85 Reads, 0 Comment(s)] Text size Print



Dr Musokotwane: There is need for mining firms to give business lines to local entrepreneurs
FINANCE minister Situmbeko Musokotwane has advised foreign mining firms that the only way to protect their investments in the country is by making their operations relevant to local communities.

During Konkola Copper Mines (KCM) Plc’s post-Initial Public Offer luncheon, Dr Musokotwane said there was need for mining firms to give business lines to local entrepreneurs and at the same time pay taxes to the Treasury.

KCM, the country’s biggest mining operation is dual listing on the London Stock Exchange and Lusaka Stock Exchange under a new company called Konkola Resources in a transaction the company expects to raise US $1.1 billion to boost its operations.

Although the exact date for listing has not been set, sources close to the transaction have revealed that Konkola Resources would be listed in London before the year end, “soon after,” in Lusaka.

Dr Musokotwane who praised KCM for listing, in a move that would allow Zambians to own shares in the mining firm which projects to raise copper output to 400, 000 metric tonnes by 2012, said there was need for the mining firms to remove perceptions that mining firms were reaping from communities they operate in without paying back.

“You can have all laws in this country to protect this industry, but the most important thing to protect this investment is to make yourself relevant to the community,” said Dr Musokotwane.

Earlier, KCM chief executive officer Kishore Kumar said the listing provided Zambia with a useful marketing tool to attract many other global players to invest in other sectors in the country apart from mining.

KONKOLA Resources Plc, the holding company of KCM, yesterday announced intentions to list some of its shares on the London and Lusaka Stock Exchanges with expected net proceeds of US $1.1 billion to be channelled towards its capital expenditure programme and loan repayments.

In a statement that did not include share structure breakdown and when the listing will take place, the company expects the global offer to comprise an issue of new ordinary shares and the sale of existing ordinary shares to institutional investors in the United Kingdom and elsewhere.

Additional ordinary shares of up to 15 per cent of the global offer are expected to be made available pursuant to an over-allotment option. All offer shares will be subscribed for, or purchased, at the offer price.

The company intends to pursue a listing on the Lusaka Stock Exchange and to offer new ordinary shares to Zambian investors by public offering shortly following admission as well as making an allocation of shares to employees.

Commenting on the matter, ZCCM-IH chairman Alfred Lungu said the initial public offer (IPO) would ensure Zambian investors making direct investments in the company.

“This first listing of a Zambian mining company is an important milestone in the history of Zambia , a development based on the substantial investment already made in KCM’s operations. The listing will help unlock value in our portfolio and encourage further investment in Zambia ,” stated Lungu.

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“This first listing of a Zambian mining company is an important milestone in the history of Zambia , a development based on the substantial investment already made in KCM’s operations. The listing will help unlock value in our portfolio and encourage further investment in Zambia ,” stated Lungu.

Le message est clair, il est l heure de sortir les bilans :=)

[phili675]

Simple coincidence ??

[bobded]

fois: Vive la Zambie le climat d'investissement KCM
Zambie acclamations climat d'investissement KCM

Par journaliste du Times

Konkola Copper Mines (KCM) chef de la direction Kishore Kumar a dit que le climat d'investissement favorable créé par le gouvernement est d'attirer de nombreux investisseurs étrangers.

M. Kumar a déclaré qu'à la suite des politiques et le climat d'investissement, de nombreux investisseurs, y compris KCM en Zambie envisagent comme leur deuxième maison.

S'exprimant au cours de l'offre publique initiale (IPO), réunis à Lusaka, hier, M. Kumar a dit l'inscription de KCM sur le London Stock Exchange a été le résultat des efforts des divers intervenants ainsi que le climat d'investissement dans le pays.

«Nous nous sentons à la maison en Zambie et nous célébrons la liste en raison du soutien et des politiques du gouvernement zambien," a déclaré M. Kumar.

Il a dit ce qui doit être réalisé a été le fait que l'inscription sur la Bourse de Londres a été à venir, sept mois après l'achèvement de la phase 1 du projet Konkola Deep Mining (KDMP) à Chililabombwe.

La phase 2 du projet a été prévu pour être achevé d'ici 2012 et une fois terminée, la sortie du minerai s'élèverait à 7,5 millions de tonnes par an de 2 millions de tonnes actuellement.

M. Kumar a d'autres projets qui ont été entrepris par KCM inclure les Chingola réfractaires Ore (CRO) de projet, un autre concentrateur et le développement du gisement Upper (UOB) pour se situer à Chingola.

Il a dit que les projets mentionnés et d'autres coûtaient KCM près de 2 milliards de dollars dire l'objectif était d'apporter une valeur ajoutée aux produits primaires de cuivre et de cobalt.

"Jusqu'à présent, ces projets ont prolongé la durée de vie de la mine de façon significative, ils ont fait KCM le plus gros employeur du secteur privé en Zambie, avec plus de 400 jeunes diplômés pris au cours des trois dernières années," a dit M. Kumar.

La liste de KCM sur le marché est une indication que la Zambie était de retour sur la bonne voie en tant que premier producteur africain de cuivre.

Il a dit que le développement serait l'occasion pour les citoyens ordinaires et les employés d'acheter des actions de KCM et jouent un rôle dans la façon dont la mine a été exécuté.

"Grâce à l'investissement qui est passé dans KCM au cours des cinq dernières années, nous croyons que l'inscription sur le London Stock Exchange va débloquer réelle de l'entreprise de marché et la valeur économique qui est caché", a déclaré M. Kumar.

administrateur principal du conseil d'administration a déclaré Jacob Mwanza l'inscription à la bourse contribuera à la croissance de l'économie du pays ainsi que pour activer les partages Zambiens propre dans KCM.

Dr Mwanza déclaré que la Zambie ne serait pas seulement connue pour les activités minières, mais le pays serait reconnue internationalement et ainsi attirer des investissements dans d'autres secteurs.

Zambia Consolidated Copper Mines Investment Holdings (ZCCM)-président du conseil IH, Alfred Lungu dit KCM a été un investisseur majeur dans l'exploitation minière du pays et sa cotation permettrait Zambie atteindre certains des objectifs fixés dans les mines.

Il a dit que l'annonce a été une évolution positive qui serait causé à la Zambie d'être connue du reste du monde.

KCM Conseil consultatif représentant Patrick Chisanga dit que l'annonce a été un moment joyeux pour le gouvernement, KCM et Vedanta Resources.