Expression of Interest (EOI) to carry out Feasibility studies & Independent review of Kitumba Copper Project | Zambia
Request for Expression of Interest (EOI) for the Consultancy services to carry out Feasibility studies – Independent review of Kitumba Copper Project in Mumbwa, on behalf of ZCCM-IH.
ZCCM Investments Holdings Plc. (ZCCM-IH) is an investment holding company with diversified interests in mining, energy, banking, property and other sectors of the Zambian economy. The company has a primary listing under ISIN number ZM0000000037on the Lusaka Stock Exchange, and secondary listings on London Stock Exchange and Euronext Stock Exchange in Paris.
The Zambian Government (GRZ) directly holds 17.25% of the shares in ZCCM-IH and 60.28% indirectly through Industrial Development Corporation (IDC), an investment company wholly owned by the Zambian Government. With the remaining 22.47% being held by institutions and individuals. The geographical spread of the minority shareholders, who number around 4300, covers over 29 countries in Europe, Africa, the Caribbean, Australia, Asia and the USA.
ZCCM-IH received a proposal from Vulcan Copper Limited (VCL) to provide funding which will eventually lead to the acquisition of considerable shares (60%) in the Kitumba Copper project located in Mumbwa District of Central Province. The purpose of these funds is to enable VCL meet its deferred debt payments as well as complete a Definitive Feasibility Study (DFS) that would ultimately lead to the raising of project finance (USD433.2M) for the entire development of the mine.
The total mineral resource at Kitumba was measured using the Joint Ore Resource Committee (JORC) Code and is estimated to contain 27.9Mt of copper at an average grade of 2.2% Total Copper (T. Cu). The project has a projected life of 13 years at 1.5Mtpa.
The Kitumba Copper project is located in Mumbwa District of Zambia’s Central Province approximately 210 km north west of the capital, Lusaka. The project is currently owned by Vulcan Copper Ltd.
Considering the stage of the project and the technical and financial risks which may be associated with the project, ZCCM-IH now seeks the services of a competent and experienced Consultant firm to conduct a due diligence and an independent detailed technical and operational review of the project and provide appropriate guidance with regards to the risks, opportunities inherent to the project, and the viability of the project.
ZCCM-IH now invites eligible consulting firms to indicate their interest in providing the above services. Interested firms must provide information to demonstrate that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions etc.).
Interested consultants may obtain further information at the address below during office hours between 08:00 – 13:00 hours and between 14:00 – 17:00 hours local time from Monday to Friday.
A consultant will be selected using Quality Based Selection (QBS) method. Interested consultants must submit one (01) original and three (03) hard copies of the Expression of Interest (EOIs) to the address below no later than Tuesday, 25th August 2020.
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