ZCCM Investments Holdings
Zambia Consolidated Copper Mines Ltd ( ZCCM ) was the largest company in the copper mining industry of Zambia. It was 85% government-owned. The remaining shares were traded on the stock market in Lusaka, London and Paris ( € Next). Zambia Consolidated Copper Mines is in the course of privatization in parts passed to Zambia Consolidated Copper Mines Investment Holdings ( ZCCM -IH ) and private investors.
ZCCM was gradually built with the nationalization of copper mining, which began in January 1970.
A fundamental structural change in the Zambian economy occurred with the Mulungushi reform in April 1968, the government announced its intention of certain companies to acquire shares, usually 51 percent, then by the parastatal Industrial Development Corporation ( indeco ) should be controlled. In January 1970, the Zambian government acquired a majority of the Zambian company of two foreign companies Anglo American Corporation and The Rhodesia Selection Trust ( RST ), for which these two were the Nchanga Consolidated Copper Mines ( NCCM ) and the Roan Consolidated Mines (RCM ). After that, the Zambian government launched another parastatal companies launched, the Mining Development Corporation ( MINDECO ). Finally, there was added the Finance and Development Corporation ( FINDECO ), which allowed the Zambian government to gain control of the insurance companies and the construction sector. The foreign-owned banks such as Barclays Bank Zambia, Standard Chartered Bank and Grindlays Bank could successfully resist nationalization. In 1971, indeco, MINDECO and FINDECO under a parastatal holding company, the Zambia Industrial and Mining Corporation ( ZIMCO ) summarized that became one of the largest companies in sub-Saharan Africa. Your Chairman was the then President Kenneth Kaunda. The contracts with the management, who worked for Anglo American and RST were terminated in 1973. In 1982 NCCM and RCM summarized in the giant Zambia Consolidated Copper Mines Ltd ( ZCCM ).
ZCCM owns substantial shares in the following copper processing and producing companies:
- Chambeshi Metals (10%)
- Chibuluma Mines Plc (15%) in Kalulushi
- Copperbelt Energy Corporation (20%) in Kitwe
- Kansanshi Mining Plc (20%)
- Konkola Copper Mines ( 20.6%) in Lusaka
- Luanshya Copper Mines Plc (15%)
- Mopani Copper Mines Plc (10%)
- Copper Mine in Solwezi (20%) in Kansanshi
- Coppermine (15%) in Luanshya
- Copper Mine in Chingola (10%) in Mufulira
- Copper Mine in Kitwe (10%) in Nkana