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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 Plc Profit and Loss Account for the year ended 31 December 2022 2022 2021 K K Revenue 938,5851,005,436 Cost of sales (879,934)(928,607) Gross profit 58,651 76,829 Other income 239 5 Distribution costs (16,879) (12,092) Administrative expenses (26,281) (23,963) Operating profit 15,730 40,779 Finance costs (5,729) (5,069) Interest income 6,289 143 Net foreign exchange losses (11,520) (9,189) Profit before income tax 4,770 26,664 Income tax expense (3,983) (6,888) Profit for the year 787 19,776 There 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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