Mining firm launches greenfield project in Zambia
CHAMBISHI, Zambia — Chinese mining firm Nonferrous China Africa on Wednesday launched production work for its greenfield project in Chambishi town in Zambia’s Copperbelt Province, with Zambian President Edgar Lungu hailing it as an example of serious investment.
The South East Ore Body is the Chinese firm’s latest project since its acquisition of Chambishi Mine 20 years ago. About $870 million has been invested in the new project.
“This project is an affirmation of the seriousness that Nonferrous China Africa attaches to investing in our country. It is also a signal that Zambia’s investment climate is conducive for the mining industry,” Lungu said at the commissioning of the project.
The Zambian leader commended the Chinese firm for its resilience in ensuring that the project comes to fruition, despite the country going through turmoil following depressed copper prices on the international market and an energy crisis.
The coming on board of the South East Ore Body will make up for the decline in production in other operations due to depletion of resources or other challenges, he said.
The commencement of mining, he said, was significant to the local people in the town. The new project is expected to boost the mine’s life span by about 24 years. The extension of operations implies more business opportunities for the local people, Lungu said.
Li Jie, China’s ambassador to Zambia, said the development of the new project was significant not only for the mining firm but also the country’s mining industry, as well as for practical cooperation between the two countries.
The Chinese envoy said the firm has invested $1.17 billion since the resumption of operations at Chambishi Mine, adding that the new project was the third body built by the firm.
He said Zambia was now considered a conducive environment destination in Africa for Chinese enterprises, because of its stable political situation, among other factors.
Wang Tongzhou, chairman of China Nonferrous Metal Mining, Nonferrous China Africa’s parent company, said Zambia was the most critical area for its overseas investment.
He thanked the Zambian government for its unwavering support for the company’s investment over the last 20 years, adding that more than 5,000 jobs will be created at the new project.
According to him, the China-Zambia cooperation was an ongoing process that will never stop, and the forthcoming Forum on China-Africa Cooperation summit next month will open a new chapter for closer ties.