{"id":35821,"date":"2022-12-04T04:19:40","date_gmt":"2022-12-04T04:19:40","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold"},"modified":"2022-12-04T04:19:40","modified_gmt":"2022-12-04T04:19:40","slug":"govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold","title":{"rendered":"Govt Claims ZCCM-IH Shares Of Kansanshi Have Not Been Sold"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zambia. <\/strong><\/span>Government wishes to inform the public that ZCCM Investments Holdings (ZCCM-IH) has not sold its shares in Kansanshi Mining Plc contrary to the misinformation that has proliferated surounding the new agreement between ZCCM-IH and First Quantum Minerals (FQM) over the management of Kansanshi Mining Plc (Kansanshi).<\/p>\n<p>Under the terms of the deal announced on Thursday, 1st December, 2022, ZCCM-IH will receive a 3.1% royalty payment from the revenue of Kansanshi, which is operated by First Quantum Minerals (FQM). This royalty is estimated to be in the region of USD $50-70 million per year, depending on the gross value of metal products, mostly copper and gold, sold or otherwise extracted at Kansanshi.<\/p>\n<p>This arrangement is valid for the entire life of the mine and follows extended discussions between ZCCM-IH and FQM over the past three years. It replaces the previous dividend-based model and is expected to provide up to twice the revenue to ZCCM-IH compared to the previous arrangement.<\/p>\n<p>The advantage of this arrangement for ZCCM-H is that the royalty will be paid out so long as Kansanshi is operational, creating a more predictable and consistent revenue stream that ZCCM-H can use to raise financing and follow its ambitious investment strategy.<\/p>\n<p>Dividends, by contrast, would only be paid out when the mine makes a profit. They are also paid out at the discretion of the mine\u2019s Board of Directors.<\/p>\n<p>ZCCM-IH will continue to hold its shares in Kansanshi and also continue to be represented on the Board of Kansanshi in order to ensure full visibility and transparency regarding the mine\u2019s operations. ZCCM-IH will also continue to have pre-emptive rights in respect of Kansanshi.<\/p>\n<p>This increased and more consistent revenue stream will allow ZCCM-IH to effectively plan for the future, enabling it pursue an ambitious investment strategy that will create jobs and promote growth in the country\u2019s economy.<\/p>\n<p>Govenment advises citizens to remain vigilant and ignore misinformation which claims that ZCCM-IH is abandoning its stake in Kansanshi. This is simply a new arrangement that provides a more beneficial revenue stream while still maintaining ZCCM-IH\u2019s ownership in Kansanshi, oversight of operations, and exposure to its future growth, including the $1.25 Billion Kansanshi expansion which was approved earlier this year. This arrangement provides a win-win opportunity for both ZCCM-IH and Kansanshi. This is in line with the Government\u2019s vision of promoting sustainable investment in the mining sector.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/zambia\">Zambia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zambia. Government wishes to inform the public that ZCCM Investments Holdings (ZCCM-IH) has not sold its shares in Kansanshi Mining Plc contrary to the misinformation that has proliferated surounding the new agreement between ZCCM-IH and First Quantum Minerals (FQM) over the management of Kansanshi Mining Plc (Kansanshi). Under the terms of the deal [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":35820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,248],"tags":[234,235,233],"class_list":["post-35821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Govt Claims ZCCM-IH Shares Of Kansanshi Have Not Been Sold - Zambia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Claims ZCCM-IH Shares Of Kansanshi Have Not Been Sold\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Zambia. Government wishes to inform the public that ZCCM Investments Holdings (ZCCM-IH) has not sold its shares in Kansanshi Mining Plc contrary to the misinformation that has proliferated surounding the new agreement between ZCCM-IH and First Quantum Minerals (FQM) over the management of Kansanshi Mining Plc (Kansanshi). Under the terms of the deal [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-04T04:19:40+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt Claims ZCCM-IH Shares Of Kansanshi Have Not Been Sold\",\"datePublished\":\"2022-12-04T04:19:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold\"},\"wordCount\":417,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/12\/postQueueImg_1670115006.59.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/govt-claims-zccm-ih-shares-of-kansanshi-have-not-been-sold\",\"name\":\"Govt Claims ZCCM-IH Shares Of Kansanshi Have Not Been Sold - 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Government wishes to inform the public that ZCCM Investments Holdings (ZCCM-IH) has not sold its shares in Kansanshi Mining Plc contrary to the misinformation that has proliferated surounding the new agreement between ZCCM-IH and First Quantum Minerals (FQM) over the management of Kansanshi Mining Plc (Kansanshi). 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