ZCCM’s earnings bolstered substantially by Mopani SEP transaction
Diversified mining investments and operations company ZCCM Investments Holdings’ earnings per share (EPS) for the year ended December 31, 2024, are expected to be about 1 077% higher year-on-year.
This considerable increase in earnings is primarily attributed to the successful implementation of the Mopani strategic equity partner (SEP) transaction.
The transaction repositioned Mopani Copper Mines as a financially sustainable entity and enabled the settlement of ZK44.72-billion ($1.71-billion) in Glencore/Carlisa debt.
As a result, the group recorded a one-off gain of ZK35.92-billion ($1.41-billion) and reclassified Mopani from a subsidiary to an associate, significantly boosting its earnings.
As a result, the group recorded a profit of ZK39.85-billion ($1.52-billion) for the reporting year, compared with a loss of ZK4.08-billion ($198.58-million) in the prior year.
The 2024 provisional audited abridged financial results for the year are expected to be released on June 20.
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