ZCCM-Investment Holdings (ZCCM-IH) has reported a record profit of K42.30 billion (US$1.62 billion) for 2024 — a dramatic turnaround from the previous year’s loss of K4.08 billion (US$199 million).

In a statement, ZCCM-IH Company Secretary Charles Mjumphi credited the remarkable performance to the successful implementation of the Mopani Strategic Equity Partner (SEP) transaction.

“This substantial increase in earnings is primarily attributed to the successful implementation of the Mopani SEP transaction,” Mjumphi stated.

The transaction repositioned Mopani Copper Mines Plc as a financially viable operation and facilitated the settlement of K44.72 billion (US$1.71 billion) in Glencore/Carlisa debt through an amended, restated, and consolidated agreement.

Mjumphi also informed stakeholders that the company will soon publish its provisional unaudited abridged financial results for the reporting period via the Securities Exchange News Service and in the local press.

Publisher: Constance

Source: ZCCM IH Reports Record 2024 Profit Driven by Mopani Equity Deal - Copperbelt Katanga Mining