Zambia Consolidated Copper Mines (ZCCM-IH) has handed over K146M to the Industrial Development Corporation (IDC), as dividend for the financial year ending December 2023.
ZCCM-IH Chief Executive Officer, Ndoba Vibetti, says this is part of the total dividend ZCCM-IH shareholders approved for the December 2023 financial year, which totaled approximately K243 million.
Speaking during the dividend cheque handover in Lusaka today, Dr. Vibetti said ZCCM-IH has continued to be resilient and profitable at Company level.
Dr. Vibetti said ZCCM-IH recorded a profit of K4.84 billion, representing a 14% during the financial year under review.
He also said at Group level, the total assets increased by 20%, from K48 billion to K58.46 billion, driven by the increased value of investments in associates and other current assets.
“The outlook of ZCCM-IH remains positive with the resolution of legacy issues at Konkola Copper Mines and Mopani Copper Mines,” said Dr. Vibetti.
He said both assets have now started receiving capital investments as committed by the equity partners, and expressed optimisms that production will be ramped up at both mining entities in the next coming years.
“During the period under review, we also increased our shareholding in Copperbelt Energy Corporation Plc (CEC) from 24% to 31.07%,” said Dr. Vibetti.
By Eva Hatontola
