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Annual Report Summaries, Investee Companies

Kabundi Resources Limited) Extract from 2022 Annual Report

For the year ended 31 December 2022, Kabundi Resources Limited (KRL) reported total revenues of ZMW13.64 million (2021: ZMW 5.58 million) with a net profit of ZMW5.5 million (2021: ZMW 1.95 million net loss).  

Kabundi Resources Limited (KRL) began its own mining operations to try and boost revenues in addition to the existing royalty arrangement that had been in place since inception. A total of 26,133 tonnes of manganese was produced during the year ended 31st December 2022.  

In the period under review, Kabundi made progress with phase 2 which included starting own mining and conducting additional exploration activities. This was made possible through additional funding that was provided by the shareholders.  

During the period under review KRL continued its mining activities on Three (3) sites namely “Kabundi A & B” and also in Ntenge where KRL had acquired another mining license. Going forward, the Company’s focus will be to acquire mining equipment and further Kabundi paid management fees totalling ZMW 0.9 million to ZCCM-IH in the period under review.  

There were no dividends declared during the period under review (December 2021: Nil).  

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