TIDMZCC
RNS Number : 9596W
ZCCM Invs.Hldgs PLC
20 April 2023
SENS ANNOUNCEMENT
(the "Announcement")
ISSUER
ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")
Incorporated in the Republic of Zambia
Company registration number: 119540000771
Share Code: ZCCM-IH
ISIN: ZM0000000037
BROKER
Pangaea Securities Limited
[a member of the Lusaka Securities Exchange]
Regulated and Licensed by the Securities and Exchange Commission
Zambia
Telephone Number: +260 211 220707 | Website: www.pangaea.co.zm
AUTHORISATION
Approval for this Announcement has been granted by:
-- The Lusaka Securities Exchange ("LuSE")
-- The Securities and Exchange Commission Zambia ("SEC")
-- ZCCM-IH
DISCLAIMER AND RISK WARNING
The announcement contained herein contains information that may
be of a price sensitive nature.
Investors are advised to seek the advice of their investment
advisor, stockbroker, or any professional duly licensed by the
Securities and Exchange Commission of Zambia to provide securities
advice.
ISSUED ON: 20 April 2023
ZCCM INVESTMENTS HOLDINGS PLC
[Incorporated in the Republic of Zambia]
Company registration number: 119540000771
Share Code: ZCCM-IH
ISIN: ZM0000000037
["ZCCM-IH" or "the Company"]
MARKET ANNOUNCEMENT
The board of ZCCM Investments Holdings Plc ("ZCCM-IH" or the
Company") wishes to inform its shareholders and the public that it
has partnered with Kobold Metals and EMR Capital ("the partners")
on a Copper exploration project, Mingomba ("the project"), in
Chililabombwe District of the Copperbelt Province in Zambia.
The project is at the exploration stage with a view to attaining
mine development once the feasibility studies are completed. The
project is adjacent to the Kamoa-Kakula mine in the Democratic
Republic of Congo.
The investment is a ZMW 25,000 equity subscription into Mingomba
Mining Limited with ZCCM-IH assuming 20% of the equity in the new
company via a free carry mechanism with no capital contribution
over the initial exploration period. A free carry mechanism ensures
ZCCM-IH does not provide any financing in the initial exploration.
Kobold will be providing financing of approximately $35 million
during the initial three-year phase of exploration and it is only
after this initial $35 million is exhausted, that ZCCM-IH and EMR
would be expected to provide financing into the project.
Thereafter, depending on the results of the initial exploration
program, an additional $30million is expected to be spent to
complete the exploration program over the next 3 years, should the
exploration results be positive. All parties will then be expected
to contribute to the cost of exploration commensurate to their
respective shareholding.
About Kobold Metals and EMR Capital
Kobold Metals
KoBold Metals is an exploration company based in the United
States of America with notable investors such as Bill Gates, Jeff
Bezos, Mike Bloomberg and Mitsubishi Corporation. KoBold is owned
by multiple investors, the largest being Breakthrough Energy
Ventures, Andreessen Horowitz, and T.Rowe Price.
KoBold has projects across the world with a strategic focus on
Copper, Cobalt, Lithium and Nickel that shall improve global
climate with a focus on Green Energy via electric vehicles.
EMR Capital
EMR Capital is a specialist mining private equity firm based in
Melbourne, Australia with additional offices in Sydney, Australia
and George Town, Cayman Islands. The firm specializes in
investments in coal, coking coal, iron ore, potash, copper or gold
projects and mining. They have owned and operated 9 mining
operations and projects in 7 countries globally, across Four core
commodities, with a proven track record in the three dimensions
critical to achieving superior investment. EMR Capital has been in
partnership with ZCCM-IH in Lubambe since 2017.
By Order of the Board
Charles Mjumphi
Company Secretary
Lusaka, Zambia - 20 April 2023
Sponsoring Broker
Pangaea Securities Limited
(Member of the Lusaka Securities Exchange)
(Regulated by the Securities and Exchange Commission)
______________________________________________________________
Tel: +260 (211) 220 707 or 238 709 / 16 Fax +260 (211) 220
925
First Floor, Pangaea Office Park, Great East Road, P.O. Box
30163 Lusaka, Zambia
First Issued: 20 April 2023
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END
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