“LUSAKA, ZAMBIA — ZCCM Investments Holdings Plc recorded a K4.92 billion net loss for the year ended December 2025, marking a sharp reversal from the K39.85 billion profit recorded in 2024.
The mining investment company says the decline was largely due to the absence of the exceptional gain recorded in 2024 from the Mopani Copper Mines Strategic Equity Partner Transaction, while ongoing strategic reforms at Mopani Copper Mines, Konkola Copper Mines and Lubambe Copper Mines continued to impact the group’s performance.
ZCCM-IH’s total assets also declined to K47.78 billion, from K57.29 billion in 2024. The company attributed part of the movement to the appreciation of the Kwacha, which strengthened from K27.95 to K22.12 against the US dollar.
The group also recognised a K2.04 billion legal provision following the Trafigura arbitral award.
Despite the loss, the company pointed to several developments as positive indicators for its future.
Kansanshi Mining’s S3 Expansion helped the mine achieve record annual copper production of 170,929 tonnes, strengthening Zambia’s copper production capacity.
ZCCM-IH also highlighted the full repayment of the US$150 million Glencore legacy loan in April 2026 as a significant balance-sheet milestone.
With reforms continuing across some of Zambia’s biggest copper assets, the company’s next challenge will be turning these strategic investments and operational improvements into sustained production, stronger cash flows and long-term shareholder value.