Follow

ZCCM : Mopani Mines_Summarised Statement on Reserves and Resources.

05 August 2022 - 19:00

 SENS ANNOUNCEMENT

(the “Notice” or “Announcement”)

ISSUER

ZCCM INVESTMENTS HOLDINGS PLC (“ZCCM-IH”)

[Incorporated in the Republic of Zambia]

Company registration number: 119540000771

Share Code: ZCCM-IH

ISIN: ZM0000000037

Authorised by: Chabby Chabala – Company Secretary

SPONSOR

Stockbrokers Zambia Limited

[Founder Member of the Lusaka Securities Exchange]

[Regulated and licensed by the Securities and Exchange Commission of Zambia]

Contact Person : Natasha Nelson

Contact email : [email protected]

Contact Number: +260-211-232456

Website: www.sbz.com.zm

APPROVAL

The captioned Announcement has been approved by:

  1. the Lusaka Securities Exchange (“LuSE”)
  2. the Securities and Exchange Commission of Zambia (“SEC”)
  3. Stockbrokers Zambia Limited (“SBZ”)

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: 05 August 2022

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”]

MOPANI COPPER MINES PLC

SUMMARISED STATEMENT ON RESERVES AND RESOURCES

The shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”), as well as other market participants, are referred to the circular dated 9 March 2021 sent to shareholders giving full details on the Acquisition of Mopani Copper Mines PLC (“Mopani”) by ZCCM-IH (the “Transaction”).

The Board of Directors of ZCCM-IH (the “Board”) informed shareholders that the Company requested SRK Consulting (UK) Ltd (“SRK”) to undertake a technical review of the mining, processing, smelting, and refining Assets (the “Assets”) of Mopani and prepare a Competent Persons Report (“CPR”) that meets the requirements set out in Section 12 of the Listings Requirements of the Lusaka Securities Exchange (“LuSE).

Accordingly, the Board wishes to inform the market and the shareholders of ZCCM-IH that the CPR has been finalised and the summarised results following the exercise undertaken by SRK of inspecting the reserves and resources of Mopani are presented below.

Table 1- Nkana: Audited Mineral Resource Statement as at 1 January 2022

Area Tonnage (Mt) TCu (%) ASCu (%) TCo (%)
Measured Mineral Resources        
Sulphides 162.1 2.07 - 0.11
Oxides 7.8 2.28 1.30 0.04
Total 170.0 2.08 0.06 0.10
Indicated Mineral Resources        
Sulphides 44.2 2.09 - 0.11
Oxides 1.4 1.86 0.94 0.06
Total 45.7 2.08 0.03 0.11
Inferred Mineral Resources        
Sulphides 38.0 2.04 - 0.11
Oxides 1.6 1.67 0.73 0.04
Total 39.5 2.03 0.03 0.11
Total Mineral Resources        
Sulphides 244.8 2.07   0.11
Oxides 10.8 2.14 1.17 0.04
Total 255.6 2.07 0.05 0.11

 Source: SRK competent Persons Report on Mopani Copper Mines PLC.

Table 2 – Mufulira: Audited Mineral Resource Statement as at 1 January 2022

Area Tonnage (Mt) Tcu (%) ASCu (%)
Measured Mineral Resources      
Main Mining Areas (Sulphides) 25.53 2.24  
Historical Blocks (Sulphides) 1.06 2.70  
Underground Oxides 8.78 1.19 0.72
Surface oxides 3.03 1.81 0.50
Total 38.39 1.98 0.20
Indicated Mineral Resources      
Main Mining Areas (Sulphides) 11.72 2.68  
Historical Blocks (Sulphides) 0.27 2.15  
Underground Oxides 1.97 0.90 0.56
Surface oxides 1.85 1.80 0.48
Total 15.82 2.35 0.13
Inferred Mineral Resources      
Main Mining Areas (Sulphides) 13.76 2.66  
Historical Blocks (Sulphides) 0.29 2.48  
Underground Oxides 1.32 0.81 0.51
Surface oxides 1.29 1.76 0.40
Total 16.67 2.44 0.07
Total Mineral Resources      
Main Mining Areas (Sulphides) 51.01 2.46  
Historical Blocks (Sulphides) 1.62 2.57  
Underground Oxides 12.07 1.10 0.67
Surface oxides 6.18 1.80 0.47
Total 70.88 2.17 0.16

Source: SRK competent Persons Report on Mopani Copper Mines PLC.

Table 3 – Audited Ore Reserve Statement as at 1 January 2022

Category Tonnes Cu Grade Co Grade Copper Cobalt
Mt % % Kt Kt
Nkana North 13.66 1.92 0.13 262.4 17.3
Nkana South 33.87 1.88 0.06 635.9 21.1
Mufulira 9.66 2.10   202.5 0.0
Proved 57.19 1.92 0.07 1,100.8 38.4
Nkana North 8.13 1.95 0.13 158.7 10.6
Nkana South 21.95 1.81 0.08 397.8 17.3
Mufulira 5.99 2.31 0.00 138.7 0.0
Probable 36.08 1.93 0.08 695.2 27.9
Nkana North 21.79 1.93 0.13 421.1 27.9
Nkana South 55.83 1.85 0.07 1,033.7 38.4
Mufulira 15.65 2.18 0.00 341.3 0.0
Total 93.27 1.93 0.07 1,796.0 66.3

Source : SRK competent Persons Report on Mopani Copper Mines PLC.

Notes:

  1. Cu - Copper
  2. Co - Cobalt
  3. TCu - Total Copper
  4. TCo - Total Cobalt
  5. AsCu - Acid Soluble Copper
  6. Mt - Million Metric Tonnes
  7. Kt – Thousand Tonnes

The CPR is available to shareholders of ZCCM-IH upon request.

By Order of the Board

Chabby Chabala

Company Secretary

Issued in Lusaka, Zambia on 5 August 2022

Lusaka Securities Exchange Sponsoring Broker
  T | +260-211-232456

E | [email protected]

W | www.sbz.com.zm

Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia
First Issued on 05 August 2022


This publication embed "🔒 Actusnews SECURITY MASTER".
- SECURITY MASTER Key: yW9xY5doaJqdmJxvlZ5tbmZmm2iSk2PGl2bKxGqZacibnZySmpxna5iZZnBmnmdm
- Check this key: https://www.security-master-key.com.



Regulated information:
Inside Information:
- other releases


Full and original press release in PDF: https://www.actusnews.com/news/75920-zccm-ih-mopani-reserves-and-resources-statement-sens-05082022.pdf

Receive by email the next press releases of the company by registering on www.actusnews.com, it's free
Provided by: Actusnews
Euronext Access Paris (France)
ZCCM Investments Holdings Plc
ZCCM Investments Holdings Plc specializes in acquiring holdings in businesses operating primarily in the field of mine operation and production in Zambia....
Learn more about company

Related news

We use cookies to make your experience using IPOhub better. By using our site you agree to our use of cookies. Learn More