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Chiengi Mining Plc is a company registered with PACRA and is listed on the Lusaka Securities Exchange ( LUSE ) . The company has been
Chiengi Mining Plc is a company registered with PACRA and is listed on the Lusaka Securities Exchange LUSE The company has been mining sugilite and zinc In Chiengi District of Zambia for over ten years. Mr Jani has been the Chief Executive Officer and Chairperson of the Board for ten years.The company has recorded a decline in its profitability in the last two years of its operations and the shareholders are concerned about the decline in profitability. An extract of the Profit and Loss account is shown below:Chiengi Mining PlcProfit and Loss Account for the year ended December KKRevenueCost of salesGross profitOther incomeDistribution costsAdministrative expensesOperating profitFinance costsInterest incomeNet foreign exchange lossesProfit before income taxIncome tax expenseProfit for the yearThere have also been adverse social media reports that the company allegedly diverted the river that is used by the local population for water and farming activities without permission from the local authority and from the Chief. The diversion of the river has led
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