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ZCCM: Mopani Mines_Summarised Statement on Reserves and Resources.

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: nnelson@sbz.com.zm

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

AreaTonnage (Mt)TCu (%)ASCu (%)TCo (%)
Measured Mineral Resources
Sulphides162.12.07-0.11
Oxides7.82.281.300.04
Total170.02.080.060.10
Indicated Mineral Resources
Sulphides44.22.09-0.11
Oxides1.41.860.940.06
Total45.72.080.030.11
Inferred Mineral Resources
Sulphides38.02.04-0.11
Oxides1.61.670.730.04
Total39.52.030.030.11
Total Mineral Resources
Sulphides244.82.07 0.11
Oxides10.82.141.170.04
Total255.62.070.050.11

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

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

AreaTonnage (Mt)Tcu (%)ASCu (%)
Measured Mineral Resources
Main Mining Areas (Sulphides)25.532.24
Historical Blocks (Sulphides)1.062.70
Underground Oxides8.781.190.72
Surface oxides3.031.810.50
Total38.391.980.20
Indicated Mineral Resources
Main Mining Areas (Sulphides)11.722.68
Historical Blocks (Sulphides)0.272.15
Underground Oxides1.970.900.56
Surface oxides1.851.800.48
Total15.822.350.13
Inferred Mineral Resources
Main Mining Areas (Sulphides)13.762.66
Historical Blocks (Sulphides)0.292.48
Underground Oxides1.320.810.51
Surface oxides1.291.760.40
Total16.672.440.07
Total Mineral Resources
Main Mining Areas (Sulphides)51.012.46
Historical Blocks (Sulphides)1.622.57
Underground Oxides12.071.100.67
Surface oxides6.181.800.47
Total70.882.170.16

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

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

CategoryTonnesCu GradeCo GradeCopperCobalt
Mt%%KtKt
Nkana North13.661.920.13262.417.3
Nkana South33.871.880.06635.921.1
Mufulira9.662.10 202.50.0
Proved57.191.920.071,100.838.4
Nkana North8.131.950.13158.710.6
Nkana South21.951.810.08397.817.3
Mufulira5.992.310.00138.70.0
Probable36.081.930.08695.227.9
Nkana North21.791.930.13421.127.9
Nkana South55.831.850.071,033.738.4
Mufulira15.652.180.00341.30.0
Total93.271.930.071,796.066.3

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 | advisory@sbz.com.zm

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
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Full and original release in PDF format:
https://www.actusnews.com/documents_communiques/ACTUS-0-75920-zccm-ih-mopani-reserves-and-resources-statement-sens-05082022.pdf

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