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Annual Report Summaries, Investee Companies

CNMC Luanshya Copper Mines Plc (CLM) Extract from 2021 Annual Report

For the year ended 31 December 2021, CLM recorded revenue of ZMW 10.17 billion (US$516.69 

million), [2020: ZMW6.4 billion (US$345.45 million)] compared to the budget of US$329.40 million for 

the financial year of 2021. This was due to favourable copper prices for the year. CLM produced 

a total of 32,369 tonnes of copper cathodes for the year under review compared to copper 

output of 55,976 tonnes produced in the 2020 financial year. 

For the year ended 31 December 2021, the Company recorded a profit of ZMW2.83 billion 

(US$143.71 million), [(2020: ZMW7.97 million (US$42.13 million)]. 

Due to this improved performance and positive equity position, the Company declared an 

interim dividend of US$40 million with US$8 million payable to ZCCM-IH which went to clear most 

of the amount due under the Dividend Advance Agreement signed in October 2020. 

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