126
Mining & Energy
The Chamber aims to facilitate the growth of the
mining industry, diversify mining operations, and
help those interested in operating in Zambia to do
so. Zambia has always been a significant copper
producing country, but the potential in other mineral
resources is huge. Many investors are entering into
the market of gemstones and semi-precious stones.
The Chamber had identified these resources as a
significant part of the diversification plan for the sec-
tor. This would subsequently assist in reducing the
negative impact and effects that changing copper
prices have on both the Zambian mining industry
and the Zambian economy as a whole.
The rol
e of
the Chamb
er of
M
ines is to adv
anc
e the
interest of
the memb
ers,
the l
oc
al
c
ommunities,
the
c
ountry as a w
hol
e,
and al
l
stak
ehol
ders,
w
hil
e at the
same time promoting
responsib
l
e and sustainab
l
e
mining
.
Jackson Sikamo
President
ZCCM Inv
estments Hol
ding
s Pl
c.
Dr. Pius Kasolo
Chief Executive Officer
5309 Dedan Kimathi Road
P.O. Box 30048, Lusaka
Tel: +260 211 221 023
Fax: +260 211 220 449
A
c
t iv
i ty: M
ining
F
ounded in: 1
9
6
9
In 1969, the two major copper mining companies,
Nchanga Consolidated Copper Mines and Roan
Consolidated Mines were 51 percent nationalized;
they were reorganized in 1974 under management
appointed by the government and merged into
ZCCM in 1982. In 2000, the copper industry began
its first full year of private operation since 1968, af-
ter the government-directed privatization of Zambia
Consolidated Copper Mines (ZCCM) assets.
ZCCM, was transformed into an investment com-
pany, ZCCM Investments Holdings Plc. (ZCCM-IH),
an investments holdings company, which is listed on
the Lusaka, London, and Euronext Stock Exchanges
and has the majority of its investments held in the
copper mining sector of Zambia. The company’s
shareholders are the Government of the Republic of
Zambia (GRZ) with 87.6 percent shareholding and
private equity holders with 12.4 percent.
The company aims to seek equity partners, local and
external, possessing the appropriate competence
and skills to manage the ventures successfully. This
action is intended not only to contribute to national
employment creation but also to expand and provide
a sustainable investment portfolio to meet future
challenges as an investment holding company.
The challenge of the present investment portfolio is
hinged on the continued reduction of unit operating
costs and the continued realization of favorable sell-
ing prices. To this end, it is noted that efforts being
within the various units of the overall ZCCM-IH port-
folio have recorded notable successes.
Zesco Limited
Ernest Mupwaya Victor Mundende
Acting Managing Director
Stand No. 6949 Great East Road
P.O. Box 33304, Lusaka
Tel: +260 211 361 111
Fax: +260 211 222 753
A
c
t iv
i ty: E
l
ec
t ric
i ty G
eneration,
Transmission D
istri-
b
ution &
S
uppl
y
F
ounded in: 1
9
7
0
ZESCO Limited is Zambia’s National Power Utility
with an installed generation capacity of 1,840 MW,
90 percent of which is hydro generated from its three
major power stations, namely the 990 MW Kafue
Gorge Power Station, the 720 MW Kariba North
Bank Power Station, and the 108 MW Victoria Falls
Power Station. ZESCO also owns and runs 6 small
hydropower-generating units concentrated in the
Northern part of the country, namely the Musonda,
Chishimba, Lunzua, and Lusiwasi power stations.
ZESCO was established in 1970. In 1972, the com-
pany took over several municipal power operations,
which included Livingstone and Ndola. In late 1972,
it took over Kabwe, Luanshya, Mufulira, Kitwe, and
Chingola. The aim of these take-overs was to en-
large the company’s area of supply to cover the en-
tire country.
As a vertically integrated national public utility com-
pany, ZESCO generates, transmits, distributes,
and supplies electricity to a customer base of over
400,000 that is expected to grow at the rate of
72,000 customers per year. An additional increase
of 65,000 customers per annum is expected, result-
