Kariba Minerals Limited (KML) reported total revenue of ZMW20.95 million for the year ended 31 March 2019 (2018: ZMW17.18 million). KML reported a net loss of ZMW11.77 million
during the financial period under review (2018: ZMW10.22 million loss).
For the financial year ended 31st December 2018, Kariba Minerals produced a total of 804,124 Kg of rough amethyst. During the same financial year, Kariba held one auction in February 2018 in Jaipur, India. Due to regulatory changes in India’s gemstone industry, no further auctions were held for the year. Revenue for the period is attributable to direct sales of Kariba’s established clientele.
Subsequent to the year end, ZCCM-IH increased its stake in KML to 100% by acquiring a further 50% shares.
There were no dividends declared during the financial year under review (2018: Nil).