Kabundi Resources Ltd, established in May 2019 by ZCCM-IH, operates in the Central Province of Zambia focusing on manganese mining. Since beginning operations in May 2020, it has aimed for a production expansion, currently running two wash plants with capacities of 1,200 tonnes per day (8-hour shift) and 150 tonnes per hour. The ore grade averages about 45% manganese. A total of 2,325 tonnes of manganese was produced during the year ended 31st December 2023.  

Future plan includes establishing a manganese plant with a capacity of 60,000 tonnes per annum over three phases and developments in the Company’s manganese mining activities.  

For the year ended 31 December 2023, Kabundi Resources Limited reported total revenues of ZMW1.1 million (2022: ZMW 13.64 million) with a net profit of ZMW3.85 million (2022: net profit of ZMW 5.5 million).  

There were no dividends declared during the year (2022: Nil). 

For the year ended 31 December 2021, Kabundi Resources Limited (KRL) reported total revenues (royalty charges) of ZMW5.58 million (2020: ZMW0.91 million) with a net loss of ZMW1.95 million (2020: ZMW0.958 million). 

Kabundi Resources Limited (KRL) began washing manganese in September 2020 with a 100tpd wash plant. A total of 8,896 tonnes of manganese was produced during the four months of operations in 2020.

In first quarter of 2021, a second and larger wash plant was constructed with processing capacity of 10,000tpd. Kabundi resources produced and sold 52,443t of manganese yielding ZMW9.45 million of which ZMW3.92 million was paid to ZRA as mineral royalty tax. 

In the period under review, Kabundi made progress with phase 2 and phase 3 of its development which include starting own mining and setting up a ferro-alloy plant respectively. 

During the period under review KRL continued its mining activities on one site namely “Kabundi B” where the first open pit had been established. Total manganese sold for the current year was recorded at 61,339 tonnes (2020: 12,000 tonnes).

During the year under review KRL acquired another mining license in the Ntenge area where mining activities are yet to commence. Going forward in 2022 the Company’s focus will be to undertake its own mining activities on this mining license.

In its 2022 budget the Company plans to acquire additional mining equipment to be able to commence its mining operations at Ntenge. Kabundi paid management fees totalling ZMW31,750 to ZCCM-IH in the period under review. 

There were no dividends declared during the period under review (December 2020: Nil).