CHINESE FIRM INVESTS K5BN IN MINERAL PROCESSING

TIAN Jin Mao Lian, a Chinese company, has invested US$230 million (K5.1 billion) in the construction of a copper and cobalt processing plant in Chambishi which will create more than 600 jobs for local people in Chambishi and Kalulushi district.

The material to be processed at the plant which covers 67 hectares within the Zambia Chinese Economic Corporation (ZCCZ) will come from the famous ‘Black Mountain’ and other mining companies.

Tian Jin Mao Lian owns Nkana Mining and Mineral Processing Limited, commonly referred to as Nkana Alloy, which owns the ‘Black Mountain’ in Kitwe.

Nkana Mining and Mineral Processing Limited General Manager, Jeff Wang, said the Tian Jin Mao Lian had invested US$230 million for the construction of a copper and cobalt processing plant so that it could contribute to job creation and economic boom in Chambishi.

Mr Wang said the US$230 million investment would go to waste if Government decides to grab the ‘Black Mountain’ from the Nkana Mining and Mineral Processing Limited where it was expecting to get the raw material.

“Nkana Alloy owns the Black Mountain and so its mother company, Tian Jin Mao Lian decided to invest US$230million in putting up a c opper and cobalt processing which will create more than 600 jobs.

“Apart from job creation, we will pay tax to government and also contribute to revivig the economy of Chambishi. We are however concerned that our investment may go to waste if government decide to grab the Black Mountain,’’ Mr Wang said.

Mr Wang said if everything goes smoothly as planned, the company would start operations in September and employ more than 600 people from Chambishi and Kalulushi. When asked what the company would do if the material at Black Mountain finishes, Mr Wang said the plant would be treating material from other mining companies like Lubambe Copper Mines (LCM) and others.

Government was considering giving 30 per cent shares from the Black Mountain to the youths

According to Ministry of Mines Permanent Secretary, Barnaby Mulenga, Government was considering giving out its 30 per cent shares in the ‘Black Mountain’ to the youths in Kitwe.

This follows the High Court Judgement that allowed the State to pull out of its partnership with Nkana Alloy and Smelting Company Limited. Following the court Judgement last week, Government remained with 30 per cent share in the ‘Black Mountain’ because it gave out its 10 per cent to the youths three years ago.

Mr Mulenga said the ministry would issue a statement on how it would issue a statement on how it would manage the 30 per cent shares.