Job Advertisement: Internal Auditor Kariba Minerals Limited.

Kariba Minerals Limited is a wholly owned subsidiary of ZCCM Investments Holdings Plc, mining high-quality Amethyst. The company’s market share is estimated at over 90% of the Amethyst originating from Zambia, and they are arguably the largest single Amethyst producer in the world. Presently, the company exports its products mainly to international markets. Worldwide, it is one of the oldest mines for semi-precious stones and one of the largest sources of quality amethysts. Kariba mine is based in Mapatizya which is approximately 110km from Kalomo in the Southern Province.

The Company invites applications from suitably qualified and experienced persons who are innovative, energetic and performance driven to fill the position of Internal Auditor.


Applications together with copies of certificates and detailed curriculum vitae should be addressed to:

Chief Human Resource & Administration Officer
ZCCM Investments Holdings Plc
P. O Box 30048,
Stand No. 16806, Alick Nkhata Road,
Mass Media Complex Area
Lusaka, Zambia

and forwarded to jobs@zccm-ih.com.zm

The Application should reach the undersigned not later than Friday 28th October 2022.

*Women are strongly encouraged to apply.

Please refer to the job description below for detailed information about the position.

KARIBA MINERALS LTD EXCEEDS EXCEED OUTPUT TARGET

Easing of COVID restrictions sees firm producing 1, 600 tonnes of amethyst

Kariba Minerals Limited (KML) produced 1, 600 tonnes of amethyst last year against a target of 1,200 tonnes following relaxation of coronavirus restrictions in China and India.

The company, which is a subsidiary of ZCCM- Investments Holdings (ZCCM-IH) has been operating for over 60 years, producing over 90% of amethyst in Mapatizya and Sinazongwe in Southern Province.

ZCCM-IH corporate affairs manager, Loisa Mbatha said in a statement of Friday that COVID-19 affected the company’s sales, which fell by 50% in 2020.

“However, by 2021, markets in Asia, in particular China and India, started opening up and the company started exporting in the fourth quarter of 2021 resulting in an increase of production last year,” Ms Mbatha said.

KML recently expanded its value-addition projects to include gemstone cutting and polishing such as cabochon, facets, carvings, beads and gemstone trading.

Ms Mbatha said plans are in the pipeline to open a jewellery retail store and firm has secured an outlet at Kenneth Kaunda International Airport in Lusaka.

KML is also manufacturing amethyst stone tops such as kitchen tops, tabletops, tiles, and tombstones, among others.

It has commenced local sales for low-grade amethyst which has created over 150 jobs.

Ms Mbatha said KML is also creating opportunities by partnering with local mine licence owners to increase production and supply to international markets.

 

 

 

 

Kariba Minerals Ltd Extract from 2019 Annual Report

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).

Gemfields Progresses Disposals, Considers Larger Share Buyback

SE-listed Gemfields on Thursday announced that it had completed the first tranche of the sale of its shares in ASX-listed Jupiter Mines.

The company on April 15 informed shareholders of its decision to sell its stake in Jupiter in two tranches. The second tranche is expected to be completed by November.

Gemfields has proposed paying a special dividend of $24.69-million to shareholders, representing a distribution of $0.0175 a share.

However, it plans to use a portion of those funds to fund a larger share buyback.

Gemfields earlier this month initiated a share buyback, as the company’s board and management believed the recent trading range of the company’s share price undervalued it.

The 30-day volume weighted average price per Gemfields share has fallen by about 11% from R1.77 on April 15 to R1.58 at the close of trading on June 26 and has recently traded as low as R1.27 on June 7.

During the last 12 months, the Gemfields share price had fallen by about 40%. Shareholder feedback had indicated a preference that greater emphasis be placed on a share buyback, particularly given the discount to the company’s net asset value.

Gemfields is authorised to repurchase about 143-million shares, representing about 10% of its shares in issue. Any repurchased shares will be cancelled.

Meanwhile, the gemstone producer on Wednesday also announced that it had received $2.3-million in payment from ZCCM Investment Holdings, which bought Gemfields’ 50% interest in Kariba Minerals, which owns an amethyst mine, in Zambia.

Gemfields sold its interest in Kariba Minerals to focus on emeralds, rubies and sapphires.

Gemfields is the operator and 75% owner of the Kagem emerald mine, in Zambia, and the Montepuez ruby mine, in Mozambique. It also holds controlling interests in various other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia and Madagascar.

Source: Mining Weekly

ZCCM-IH Owns 100% Shares in Kariba

ZCCM-Investment Holding (ZCCM-IH) has acquired an additional 50 percent shareholding in Kariba Minerals Limited from Gemfields Limited at a cost of US$2.5 million.
The acquisition means that ZCCM-IH now owns 100 percent shares in Kariba Minerals Limited.
According to the directors’ interim unaudited financial results for ZCCM-IH and its subsidiaries for the six months period ended September 30, 2018, transaction completion is subject to regulatory approvals by various regulatory bodies
“Going forward, ZCCM-IH will implement a robust strategic plan aimed at improving production, processing and marketing activities to increase profitability of the mine,” the report reads.
Meanwhile, plans by ZCCM-IH to acquire Kapiri Glass Manufacturing (KGM) company have been put on hold due to legal action taken against the firm by the current owners https://epaper.daily-mail.co.zm/

ZCCM-IH owns 100% shares in Kariba

TRYNESS TEMBO, Lusaka
ZCCM-Investment Holding (ZCCM-IH) has acquired an additional 50 percent shareholding in Kariba Minerals Limited from Gemfields Limited at a cost of US$2.5 million.

The acquisition means that ZCCM-IH now owns 100 percent shares in Kariba Minerals Limited.

According to the directors’ interim unaudited financial results for ZCCM-IH and its subsidiaries for the six months period ended September 30, 2018, transaction completion is subject to regulatory approvals by various regulatory bodies.

“Going forward, ZCCM-IH will implement a robust strategic plan aimed at improving production, processing and marketing activities to increase profitability of the mine,” the report reads.

Meanwhile, plans by ZCCM-IH to acquire Kapiri Glass Manufacturing (KGM) company have been put on hold due to legal action taken against the firm by the current owners https://epaper.daily-mail.co.zm/


Source: Daily Mail

ZCCM Investments Holdings PLC Acquires additional 50% Shares in Kariba Minerals Limited

On 7th November 2018, ZCCM Investments Holdings Plc (ZCCM-IH) acquired an additional 50% shareholding in Kariba Minerals Limited (KML) which is Zambia’s largest Amethyst mine. This acquisition means that ZCCM-IH now owns 100% shares in KML. The shares were acquired from Gemfields Limited at a total consideration of US$2,500,000. The completion of the transaction is subject to regulatory approvals.

Going forward, ZCCM-IH will implement a robust strategic plan aimed at improving production, processing and marketing activities in order to increase profitability of the mine.

By Order of the Board

Chabby Chabala
COMPANY SECRETARY

Issued in Lusaka, Zambia on Friday, 23rd November 2018

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 23 November, 2018

Kariba Minerals Ltd Extract from 2018 Annual Report

Kariba Minerals Limited (KML) reported total revenue of K17.18 million for the year ended 31 March 2018 (2017: K20.64 million). KML reported a net loss of K10.22 million during the financial period under review (2017: K3.45 million loss).

For the year ended 31st March 2018, KML produced a total of 627.52 tonnes of commercial grade amethyst (2017: 712.18 tonnes) and produced 3.54 tonnes of high grade amethyst (2017: 1.86 tonnes). KML ore production was at 11,273 tonnes (2017: 10,517 tonnes). KML held an auction in February 2018 in Jaipur, India during the period under review. A total of 3.35 tonnes of high grade amethyst valued at US$270,000 was sold at the auction. Additionally, KML introduced 1.50 tonnes of a new medium grade amethyst at the auction for the first time and it sold above its reserve price. KML going forward plans to have a schedule of the new medium grade amethyst at the auction.

There were no dividends declared during the financial year under review (2017: Nil).

Kariba Minerals Ltd Extract from 2017 Annual Report

For the financial year ended 30th June 2016, Kariba Minerals Limited (Kariba) reported total revenues of K21.34 million (2015: K11.58 million – restated) with a profit after tax of K 1.14million (2015: K12.73 million loss – restated).

For the financial year ended 30th June 2016, Kariba Minerals produced a total of 964,548 Kg (2015: 983,707 Kg) of rough amethyst. During the same financial year, Kariba sold 16.7 million carats of high-grade rough amethyst through two auctions in Singapore in September 2015 and in Lusaka in April 2016 for a total of K6.51 million (US$0.66 million) in revenue from the auctions. Kariba’s ore production was at 15,927 tonnes in the year ending 30th June 2016 (2015: 30,432 tonnes).

Kariba constructed a new sort house to meet the market demand from new customer orders for specific high quality, small sizes of amethyst under natural light conditions. Additional storage silos were constructed to increase the stock holding capacity to 800 tonnes.

There were no dividends declared during the financial year ended 30th June 2016 (2015: Nil).

Kariba Minerals Ltd Extract from 2016 Annual Report

For the financial year ended 31st March 2016, Kariba Minerals Limited (Kariba) reported revenues of K19.3 million (2015: K11.1 million) with a profit after tax of K5.6 million (2014: K0.06 million).

The company’s current liabilities exceeded its current assets by K32.5 million (2015: K22.2 million) and the company had negative equity of K55.3 million (2015: K39.1 million) as 31st March 2016. During the period under review, Kariba held two auctions for high quality amethyst that grossed over US$653,800 in total revenue. Going forward, the company will continue with its operational activities with continued support from the shareholders. Kariba projects profitability in 2018 that will be driven by an increase in mining production.

There were no dividends declared during the financial year ended 30th June 2015 (2014: nil)