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Kariba Minerals Limited2018-06-15T13:07:41+00:00

Kariba Minerals is 50% owned by Gemfields plc – the world’s largest producer of coloured gemstones – in partnership with ZCCM-IH, which owns the remaining 50% of the company.

Location

The Kariba amethyst mine is located in the southern part of Kalomo district in Zambia and covers an area of 396 hectares. Operating for over 60 years, Kariba Minerals has produced some of the world’s finest quality amethyst and is one of the oldest mines for semi-precious gemstones worldwide. Its unparalled deep purple hue, combined with exceptional lustre, sets the standard for amethyst excellence internationally.

Mine & Market

Extract from 2017 annual report

For the financial year ended 30th June 2016, Kariba Minerals Limited (Kariba) reported total revenues of K21.34 million (2015: K11.58 million – restated) with a profit after tax of K 1.14million (2015: K12.73 million loss – restated).

For the financial year ended 30th June 2016, Kariba Minerals produced a total of 964,548 Kg (2015: 983,707 Kg) of rough amethyst. During the same financial year, Kariba sold 16.7 million carats of high-grade rough amethyst through two auctions in Singapore in September 2015 and in Lusaka in April 2016 for a total of K6.51 million (US$0.66 million) in revenue from the auctions. Kariba’s ore production was at 15,927 tonnes in the year ending 30th June 2016 (2015: 30,432 tonnes).

Kariba constructed a new sort house to meet the market demand from new customer orders for specific high quality, small sizes of amethyst under natural light conditions. Additional storage silos were constructed to increase the stock holding capacity to 800 tonnes.

There were no dividends declared during the financial year ended 30th June 2016 (2015: Nil).

Download 2017 Annual Report

Extract from 2016 annual report

For the financial year ended 31 March 2016, Kariba Minerals Limited (Kariba) reported revenues of K19.3 million (2015: K11.1 million) with a profit after tax of K5.6 million (2014: K0.06 million).

The company’s current liabilities exceeded its current assets by K32.5 million (2015: K22.2 million) and the company had negative equity of K55.3 million (2015: K39.1 million) as 31 March 2016. During the period under review, Kariba held two auctions for high quality amethyst that grossed over US$653,800 in total revenue. Going forward, the company will continue with its operational activities with continued support from the shareholders. Kariba projects profitability in 2018 that will be driven by an increase in mining production.

There were no dividends declared during the financial year ended 30 June 2015 (2014: nil).

Download 2016 Annual Report

Copper

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