NFC Africa Mining Plc Extract from 2019 Annual Report

NFCA recorded a net revenue of ZMW 1.78 billion (US$159.3 million) for the financial year ending 31st December 2018 (2017: ZMW 1.52 billion (US$159.6)). Profit after tax was ZMW89.57 million (US$ 8.0 million), (2017: ZMW153.74 million US$16.1million). Despite the decline in profitability, the financial performance remained positive and marginally exceeded targets that were set for the 2018 financial year. The production target in 2018 was 1.5 million tonnes of processed ore against the actual completion of 1.504 million tonnes while Copper in concentrate 2018 target was 27,000 tonnes against Copper actual figures closing at 27,600 tonnes.
The production did not include significant amounts of copper that came from the South East Ore Body as was initially anticipated. Despite management having projected significant Copper production from the South East Ore Body Plant by the end of the year, this was not the case. However, significant progress was made and management continues to focus on
bringing this project to completion to ensure increased production for the mine.
There were no dividends paid during the year ended 31st December 2018 (2017: Nil).

Chinese Firm Donates Ambulance to Zambian Clinic

A Chinese firm, Non Ferrous Company Africa Mining (NFCA), has donated an ambulance to Chambishi clinic in Zambia’s Kalulushi district on the Copperbelt Province to supplement government efforts in the provision of health services, an official said on Monday.

Kampamba Mulenga Chewe said NFCA was always at hand to assist in various developmental projects in Chambishi and Kalulushi districts.

On Saturday, Chewe handed over an ambulance that was purchased by NFCA to Chambishi District Health Office for logistics operations at Chambishi clinic.

Chewe, an official with community development and social welfare authorities, thanked NFCA for adhering to the Corporate Social Responsibility by helping to improve the living standards of the community in which the mining firm operates from.

A Chambishi resident Jacob Mbewe commended the Chinese firm for always supporting the community in various needs.

“The Chinese firm has been supportive in various ways. The company has created jobs and is ploughing back into the communities through its Corporate Social Responsibility,” he said.

NFCA is one of the Chinese companies in Chambishi outside the Chambishi Multi Facility Economic Zone. Enditem

Zambia’s copper production rises to 861,946 tonnes in 2018

Zambia has recorded a marginal increase in its copper production for 2018 to around 861,946 metric tonnes from 799,329 tonnes recorded in 2017, boosted by First Quantum Minerals’ (FQM) operations in Kalumbila District.

But last year’s increased copper output still means that Zambia remains Africa’s second-biggest producer of the red metal, with the Democratic Republic of Congo (DRC) expected to hit over 1.2 million metric tonnes.

According to the official Ministry of Mines data, Zambia’s total copper production last year marginally rose to an estimated 861,946 tonnes from 799,329 tonnes recorded in 2017.

The total copper production included all of the country’s 10 large scale mining operations as well as small-scale mining operations, which accounted for at least 10,859 metric tonnes from the total tonnage.

Data reveals that although FQM’s Kansanshi Mining Plc recorded a marginal drop of 249,532 tonnes last year from 250,803 tonnes in 2017, its output in 2018 was the highest among all 10 mining companies in the country for a third successive year.

Additionally, Ministry of Mines Permanent Secretary Paul Chanda explained that FQM’s Sentinel Copper Mine in Kalumbila District produced record output of 223,655 metric tonnes, which helped contribute to Zambia’s overall copper production increase.

“The performance of the sector was better in 2018 relative to 2017. The increase in copper production is attributed to: i. The ramp-up in production at Kalumbila; ii. Improved plant availability and utilization at the Tailings Leach Plant at KCM coupled with higher grades; iii. Commissioning of the Synclinorium Shaft at Mopani in Kitwe has increased volume of ore being hoisted,” Chanda explained in a statement released, Wednesday.

Both Kansanshi and the Sentinel’s copper output last year constitute for 473,187 tonnes out of the country’s total production or nearly 55 percent from just two operations.

And 6 other mining companies equally recorded upward copper production output last year.

These included: Mopani Copper Mines, whose output hit 62,191 metric tonnes from 44,860 tonnes in 2017; Konkola Copper Mines (KCM), whose output rose to 93,165 tonnes last year from 84,436 tonnes in 2017; Chibuluma Mines, who recorded 11,258 tonnes in 2018 from 10,194 tonnes in 2017; CNMC Luanshya, whose output increased to 50,363 tonnes last year from 43,206 tonnes in 2017 and Sino Metals, who recorded 9,312 tonnes from 7,100 tonnes, while Lubambe’s copper production hit 22,074 tonnes from 18,037 tonnes during the period under review respectively.

On the other hand, Barrick Gold’s Lumwana Copper Mine saw its output fall to 101,890 tonnes last year from 116,170 tonnes in 2017, while NFCA recorded 27,644 tonnes down from 27,706 tonnes during the period under review respectively.

But Zambia’s increased 2018 copper production still means that the country remains Africa’s second-biggest producer of the red metal, with the DRC expected to hit over 1.2 million metric tonnes.

The DRC first managed to surpass Zambia as the continent’s biggest copper producer after that country managed to produce over 900,000 metric tonnes of copper in 2013, registering a sharp rise and surpassing Zambia’s 754,916 tonnes produced that year.

Source: News Diggers

NFC Africa Mining Plc Extract from 2018 Annual Report

NFC Africa Mining Plc (NFCA) recorded a turnover of K1,523.9 million (US$159.6 million) for the financial year ending 31st December 2017 [(2016: K1,171.87 million (US$114.2 million)] due to increased copper prices.

NFCA recorded a profit after tax of K153.73 million (US$16.1 million) [(2016: K203.18 million (US$ 19.8 million loss)].

NFCA continues to work on the development of the South East Ore Body project. The company reported project expenditure of K4,408.42 million (US$461.7 million) as at 31st December 2017. Total planned project investment is 8,280.27 million (US$832 million). Once completed the project is expected to extend the life of mine by 20 years. The design and annual capacity at full production is estimated at 3.3 million tonnes of ore containing 60,000 tonnes of copper.

There were no dividends paid during the year ended 31st December 2017 (2016: Nil).

NFC Africa Mining Plc Extract from 2017 Annual Report

NFC Africa Mining Plc (NFCA) recorded a turnover of K1,716.05 million (US$173.9 million) for the financial year
ending 31st December 2016 (2015: K677.11 million (US$104.1 million) as a result of increased sales volumes.

NFCA recorded a loss after tax of US$31.1 million (2015: K45.8 million loss).

NFCA continues to work on the development of the South East Ore Body project. The company reported project expenditure of K2,666.33 million (US$270.2 million) as at 31st December 2016. Total planned project investment is K8,537.65 (US$832 million). Once completed, the project is expected to extend the life of the mine for 20 years. The design and annual capacity at full production is estimated at 3.3 million tonnes of ore containing 60 000 tonnes of copper.

There were no dividends paid during the year ended 31st December 2016 (2015: Nil).

NFC Africa Mining Plc Extract from 2016 Annual Report

NFCA continued with the development of the South East Ore Body project. The company reported project expenditure of K2,669.2 million (US$270.2 million) as at 31st March 2016. Total planned project investment is K8,219.1 (US$832 million). Once completed, the project is expected to extend the life of the mine for 20 years. The design and annual capacity at full production is estimated at 3.3 million tonnes of ore containing 60 thousand tonnes of copper. The project is expected to be completed in 2018.

There were no dividends paid during the year ended 31st December 2015 (2016: nil).