NFC Africa to invest $150m on Zambia mine
Chinese-run Non-Ferrous Africa Mining Plc (NFC Africa) will spend $150-million to expand the Chambishi copper mine orebody to raise copper output, a local newspaper reported on Friday.
Non-Ferrous Africa Mining Plc said it would develop the west orebody at Chambishi, 420 km north of the capital Lusaka, to expand copper production, State media reported on Friday.
NFC Africa deputy chief executive officer Gao Xiang said the investments would start immediately. He did not say how much additional copper production was expected.
The investment was also aimed at creating 1,000 new jobs, State-owned Zambia Daily Mail quoted Gao as saying.
"A South African company has been contracted to sink a shaft at the west orebody which has an estimated lifespan of 25 years," the the newspaper said.
The Chambishi mine with known ore reserves of 102-million tons of copper at an average grade of 2,21 percent is the largest Chinese-owned mine in mineral-rich Zambia.