Business

ZCCM-IH profit hits K1.48 billion

NKOLE MULAMBIA, Lusaka

ZCCM Investment Holdings has recorded K1.48 billion in profit as a result of a surge in copper prices on London Metal Exchange (LME) during the six months ended June 30, 2021. Copper prices on LME recorded an average price of US$ 9,200 per tonne compared to US$5,490 per tonne recorded during the same period in 2020. Company secretary Chabby Chabala said the group’s share of profit in associate companies was K1.48 billion compared to K354.7 million in June 2020.
“The profit was due to profit recorded by investee companies in the copper mining industry, which experienced increased copper prices during this period. The copper prices recorded an average price of US$ 9,200 per tonne compared to US$5,490 per tonne recorded during the same period in 2020,”Mr Chabala said. He said this in the director’s interim unaudited financial results and its subsidiaries for the six months period ended June 30, 2021. ZCCM-IH consists of 10 companies including Mopani Copper Mines Plc, Ndola Lime Company Limited, Kamba Minerals Limited, Misenge Environmental and Technical Services Limited. Others are Mushe Milling Limited, Kabundi Resources Limited, Limestone Resources Limited, Investrust Bank Plc and Zambia Gold Limited. The firm has CLICK TO READ MORE




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