Lubambe Copper Mines has donated assorted food items to One Way Mission Children Home and Lusungu Children home as part of celebrating the New Year.
The donation worth K15,000 is part of the mines corporate social responsibility in Chililabombwe and Chingola respectively.
Lubambe Copper Mines acting General Manager Operations Venus Kasito said the policy is to plough back into the community.
Mr Kasitu said the mine has donated to the needy as a way of enhancing their lives and a way of supporting the children.
He said the lives of the children are important hence the need to help them in any way possible.
“The company wants to reach a production capacity of 220 tones by the 4th quarter of 2019 then the company will be able to boost up its corporate social responsibility,” he said.
Loveness Sakala Director at One Way Mission was grateful for this gesture in supporting the vulnerable children.
Ms Sakala said other stakeholders should emulate and do the same to give support and enhance the children’s lives and future.
Lusungu orphanage Director Caddie Ng’ambi said the act of love by the mining firm would go a long way.
Bishop Ng’ambi said the orphanage accommodates a number of children whose educational needs are taken care of by the orphanage
He expressed gratitude towards the gesture of an act of love by Lubambe mine to the children.
Source: The Independent Observer
In compliance with the requirements of the Securities Act No. 41 of 2016and the Listing Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings Plc (ZCCM-IH) announces the interim unaudited financial results of the Company and its Subsidiaries (collectively referred to as the Group) for the six months’ period ended 30th September 2018.
The Group recorded a turnover of K67.5 million for the six-month period ended 30th September 2018 which represents 80% over the turnover of K37.5 million reported during the six months to 30th September 2017. The increase is mostly on account of the consolidation of Investrust Bank following the Group’s increase in the Bank’s shareholding to 71.4%. The Group recorded an operating loss of K222 million (Sept 2017: loss K123 million) and received dividends of K44.8 million from Kansanshi Mining Plc (September 2017: Nil).
The Group’s share of profit in associate companies was K437.5 million (September 2017: K227.3 million). The performance of the associate companies has continued to improve due to continued increase in demand for copper on the world market resulting in increased copper prices. Overall the Group recorded an after-tax profit of K510 million (September 2017: K87.8 million).
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Interim Financial Statements – HY 30 September 2018
In accordance with Section 3.4(b) Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of ZCCM-Investments Holdings PLC (the “Company” or “ZCCM-IH”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the six-month period ended 30 September 2018 is expected to be approximately 476% higher than for the six-month period ended 30 September 2017.
The movement in EPS is primarily attributed to the improved profits in associate companies and exchange gains. This improved performance is mainly due to the continued increase in demand for copper on the world market.
Shareholders are advised that the information contained in this trading statement has not been reviewed or reported on by the external auditors of the Company.
The Company expects its Interim Financial Results for the six-month period ended 30 September 2018 to be released on Securities Exchange News Services (“SENS”) and published in the local press on or about 28th December 2018. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.
By Order of the Board
Issued in Lusaka, Zambia on Wednesday, 26th December 2018
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Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia
First Issued on 26 December 2018
TRYNESS TEMBO, Lusaka
AS PART of ZCCM-Investments Holdings (ZCCM-IH)’s strategic intent to participate in agriculture and agro-processing, plans are underway to acquire Mushe Milling Limited.
The investment holding company has begun discussions regarding the potential acquisition of the firm.
This is according to the directors’ interim unaudited financial results for ZCCM-IH and its subsidiaries for the six months period ended September 30, 2018.
“The opportunity to acquire Mushe Milling Limited has been assessed and discussions have reached an advanced stage with the terms and conditions of the transaction close to finalisation,” reads the financial result.
During the period under review, ZCCM-IH also expressed interest to invest in Leopards Square, a mixed commercial property with a unique tenant mix.
This transaction is almost finalised, upon completion of a subscription agreement and a shareholders agreement.
Source: Daily Mail
Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH), the Zambian public firm that controls the state’s shares in the country’s copper and…
Source: Africa Intelligence
In accordance with the requirements of the Securities Act No. 41 of 2016 and the Listings Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings Plc (“ZCCM-IH Plc”) announces its unaudited annual financial statements for the year ended 31 March 2018.
- The Group reported a profit of K975 million (2017: K 729 million) representing 33% increase, driven by improved production volumes of copper in most of ZCCM-IH’s investee companies and an upsurge in copper prices during the year. London Metal Exchange copper price increased by 14.8% to US$ 6,724/ton (2017: US$5,858/ton) during the year.
- The Group recorded an operating loss of K130 million (2017: profit K848 million) mainly due to Ndola Lime Company Limited’s (Subsidiary) continued loss-making position, which contributed an operating loss of K167 million (2017: K1,152 million) during the year. Additionally, the impairment of the investment in Konkola Copper Mines Plc amounting to K218 million increased the recorded operating loss during the year.
- The Group recorded a positive share of profit from equity accounted investee companies of K 689 million (2017: loss K 189 million). This movement represents 464% increase.
- Profit after tax was K 975 million (2017: K 729 million).
- The Group’s total assets increased by 13% from K9, 579 million (2017) to K10, 865 million (2018) on account of increase in the net assets of investee companies whose performance continued to improve during the year.
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Provisional Abridged Financial Statements – FYE 31 March 2018