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Annual Report Summaries, Investee Companies

CNMC Luanshya Copper Mines Plc (CLM) Extract from 2020 Annual Report

CLM increased its production volumes in 2020 with total copper output of 55,976 tonnes, up from 55,000 tonnes in 2019. This was due to increased mining activities and increased slag reclamation at Muliashi and Baluba.  

During the year, revenue increased to ZMW6,435.79 million (US$345.45 million) from ZMW2,992.91 million (U$S 224.67 million) as at December 2019 with net profit increasing to ZMW784.97 million (US$42.13 million) from ZMW 274.91 million (US$20.64 million).  

In the quarter under review, ZCCM-IH signed a loan facility with CLM. With a positive equity position, the company shall continue to explore the possibility of dividend payments in 2021 so as to reduce this loan amount.  

No dividends were declared during the year (31 December 2019: nil).

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