CHINA Nonferrous Mining Group Corporation (CNMC) will inject US$300 million more into the operations of China Nonferrous Metal Company Luanshya Copper Mines (CLM) to expand production at the mine.
CNMC president Luo Tao said in an interview upon arrival at Ndola International Airport yesterday that his company had always prioritised development in Zambia and that the injection of the $300 million into the Luanshya mine was aimed at expanding and improving production at the mine.
A total of $38 million had been spent in the refurbishing of the surface and underground infrastructure at the time President Rupiah Banda commissioned the resumption of production last year.
Initially, $90 million had been earmarked for the rehabilitation of both Baluba and Mulyashi mines.
Mr Luo said his delegation would visit the mine in Luanshya and study how to further develop it.
Mr Luo, who led the delegation of 13, which included government officials, CNMC officials and entrepreneurs from the group that met President Banda when he recently visited China, said the visit by the Zambian president to that country had yielded positive results.
He said his team was in Zambia to inspect the Chinese investment performance and explore more investment opportunities.
Mr Luo said his delegation, which would inspect the Chinese CNMC investment on the Copperbelt before proceeding to Lusaka, would be in Zambia for half a month.
“President Banda made a very successful trip to China which was even appreciated by our President Hu. Important issues were discussed between the two presidents, which we have now come to implement.
I must say as the Chinese we were honoured by President Banda’s visit, especially that the two presidents even witnessed the signing of the various important agreements which will be beneficial to both countries,” Mr Luo said.
While in Zambia, Mr Luo and his delegation would meet President Banda and report back to President Hu over the progress of the implementation of the ZCCZ.
The delegation would also meet Mines Minister Maxwell Mwale, Commerce, Trade and Industry Minister Felix Mutati and Finance Minister Situmbeko Musokotwane.
Vice-mayor of Linquin City of Shandong Province Wang Xiaohua is also part of the delegation, which was met at Ndola Airport by Copperbelt Province assistant secretary Steven Lindunda.
[Times of Zambia]
Chinese Investiment welcome, the world over their influence is noticed and felt. Even In America buy a jeans trouser chances are that it made in China.
However, the conditions for Luanshya Miners are pathetic. Salaries are the lowest for all the mines in Zambia. Take a look at them and compare to Lumwana, Kansanshi Mines you will cry. I’m not saying the salaries are Good at Lumwana & Kansanshi but in comaprison to Luanshya ones, they Luanshya ones are slave salaries. Hope the Chinese will improve to despell the notion that they are poor payers and habour poor condition of service. Luanshya miners like NCZ workers have suffered too much for too long.
No.1 I hope you have got facts, there is a growing tendency nowadays to make alarming statements. Why are the miners not complaining? Maybe you can share the information that you have with us.Have you considered profitability of the mine? My only appeal to the investors is that they should consider rehabilitating the social infrastructure and bring it to levels it was prior to privatisation. What a wonderful town it was.
The Chinese delegation will only go to State house to find out what RB went to monitor in Malawi.
we are now creating a Chinese country within our motherland.Problem is they exploit us.We now have Chinese coloreds in zambia.Lets export some of them to Shan’gombo if they want want to bring development
This must be good news for Chishimba Kambwili!