Zambezi Times Online

Small-Scale Mining Too Risky To Invest In, Says Mwanakatwe

LUSAKA, June 11 - Barclays Bank managing director Margaret Mwanakatwe has said that banks could not support small-scale mining because it is a high-risk area. More>>

Copper Exports Increase

NDOLA, June 11 - According to the latest Bank of Zambia (BoZ) Statistics Fortnightly, copper exports soared to 90, 776 tonnes during the period January to March 2004, from 86, 974 tonnes during the months October to November 2003. More>>

Desist From Mudslinging, MUZ Advises New Miners' Union

LUSAKA, June 10 - The Mineworkers Union of Zambia (MUZ) has advised the newly launched National Union of Mine and Allied Workers (NUMAW) to desist from mudslinging and concentrate on issues that would improve the welfare of miners. More>>

COMEX June 11

Aug 04 Gold
386.60 (-1.3%)
Jul 04 Siver
5.748 (-1.07%)
Jul 04 Copper
117.30 (-4.75%)

LuSE Index
538.70 (+2.48%)

Exchanche Rate
US$ - ZMK Kwacha
4750 bid (-0.63%)

Zambia Key Economic performance indicators

Target 2003
Achievement 2003
Target 2004
Real Economic Growth 4.0% 4.3% 3.5%
Inflation 17.9% 17.2% 15.0%
Budget Deficit 1.6% of GDP 5.0% of GDP 2.0% of GDP
Reserves Build up 1.9 months of import cover 1.3 months of import 1.5 months of import cover
HIPC Reach completion point Did not reach completion point Reach completion point

Comex GOLD Aug 2004 386.60 (-1.3%)

Comex SILVER July 2004 5.748 (-1.07%)

Comex COPPER July 2004 117.30 (-4.75%)

LuSE index 538.70 (+2.48%)

UsD/ZMK Kwacha 4750 bid (-0.63%) 4850 ask

Active Trading Characterises LuSE Week's Opening

LUSAKA, May 27 - Active trading characterised this week's opening session of the Lusaka Stock Exchange (LuSE) with the share index closing 16.58 points higher than last Friday's session.

The LuSE share index rose from 470.47 points last Friday to 487.05 points on Monday.

LuSE public relations manager Brian Tembo said in an interview that the most impressive performance was recorded by Zambia Sugar plc, the value of whose shares rose from K43 to K50.

"Zambia Sugar's performance could be tied to the impressive results that were published recently," Tembo said.

"When a company's results are good, you find that trade in that company's shares goes up because demand increases. As you know, people want to be associated with well performing companies and decide to invest as such."

He noted that Chilanga Cement's run on the market has continued to be impressive, as the share price has risen from K750 in January to K1,000 on Monday.

"In fact, all companies recorded good performances on Monday. There were no drops in share prices and this why the over all share index went up," Tembo said.

Preferential shares in Farmers House plc maintained the K4,842.28 per share while ordinary shares in the same firm also maintained K1,000.

Zambia Consolidated Copper Mines (ZCCM) Investment Holdings also maintained K3,500 per share, with Zambian Breweries posting K446.90 per share.

By Mwila Nkonge

The Post / allAfrica Global Media

ZAPTF Public Floatation Rescheduled To July

LUSAKA, May 27 - The public floatation of the Zambia Privatisation Trust Fund (ZPTF)'s 18 per cent shareholding in Metal Fabricators of Zambia (ZAMEFA) has been rescheduled to July 2004.

A release issued by advisors to ZPTF, Stanbic Bank Zambia Limited, and Lantana Communications Limited, the public relations agents for ZPTF, says the offer was originally to have been made to the Zambian public in April and May.

The ZPTF is offering its 18 per cent shareholding in ZAMEFA, totalling 48,762,000 shares to the public.

The offer precedes the ZAMEFA listing on the Lusaka Stock Exchange (LuSE).

The floatation, which is scheduled to commence on July 7, will run for more than three weeks, closing on July 30 and will be open to all Zambia citizens and eligible Zambian institutions.

"Upon conclusion of this offer, the company will be listed on the LuSE and trading is expected to commence on or about September 1, 2004," the release states.

ZAMEFA is currently one of the largest non-traditional export earning companies with earnings for 2003 grossing US $28 million.

It is the largest manufacturer of wire and cable in the Southern African region outside South Africa and the only manufacturer of copper wire cables in Zambia.

Phelps Dodge International Corporation, a subsidiary of one of the world's largest producers of continuous cast copper rods is the majority shareholder in ZAMEFA, whose major export markets are found in Europe, Central America, Asia, the Far East, and East and Southern Africa

By Kingsley Kaswende

The Post / allAfrica Global Media

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