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NFC Africa Mining Plc 2017-06-28T12:00:58+00:00

NFCA Africa Mining Plc (“NFCA”) was established in March 1998 as the holding company of Chambishi Copper Mine as part of the privatization of Zambia Consolidated Copper Mines Limited (“ZCCM”). It is majority owned by China Non-ferrous Metals Company Limited (“CNMC”), which holds an 85% shareholding stake, whilst ZCCM Investments Holdings Plc holds a 15% shareholding stake.

Operations

NFCA currently mines at the Chambishi Main Mine and the Chambishi West Mine, and is currently developing the Chambishi South-East Mine.

NFCA produces copper concentrate, which is taken up in its entirety by Chambishi Copper Smelter (“CCS”), a sister company owned by CNMC.

Development

In July 2000, NFCA commenced reconstruction works at the Chambishi Main Mine, investing approximately US$ 157 million, with completion and subsequent production commencing in July 2003. It further began to develop the west orebody in July 2007 with the Chambishi West Mine commencing production in July 2010. NFCA is currently developing the south-east orebody, which commenced in December 2010 and is expected to be completed by 2016.

Extract from 2016 annual report

NFCA continued with the development of the South East Ore Body project. The company reported project expenditure of K2,669.2 million (US$270.2 million) as at 31 March 2016. Total planned project investment is K8,219.1 (US$832 million). Once completed, the project is expected to extend the life of the mine for 20 years. The design and annual capacity at full production is estimated at 3.3 million tonnes of ore containing 60 thousand tonnes of copper. The project is expected to be completed in 2018.

There were no dividends paid during the year ended 31 December 2015 (2016: nil).

Download 2016 Annual Report

Extract from 2015 annual report

NFC Africa Mining Plc (NFCA) recorded a turnover of K1,000.4 million (US$153.8 million) for the financial year ending 31st December 2014 and a profit after tax of K23.4 million (US$3.6 million). For the three months to 31st March 2015, NFC Africa reported revenues of K178.2 million (US$27.4 million) and a loss of K79.2 million (US$11.7 million).

The South East Ore Body project which will have production capacity of 100,000 tonnes per annum is on schedule to be completed in 2017. The current production capacity is 30,000 tonnes per annum. The project is expected to create 5000 jobs.

There were no dividends paid during the year ended 31st March 2015 (20143: Nil).

Download 2015 Annual Report

Copper

Extracting value from tier one assets by improving efficiencies and operations.