Chambishi mine gets $800m boost

[bingogo]

Chambishi mine gets $800m boost
By ALEX NJOVU

NON-FERROUS Corporation Africa (NFCA) will spend US$800 million on the construction of the Chambishi south-east ore body project expected to create 5,000 jobs.

NFCA deputy chief executive officer Xu Ruiyong said in an interview in Chingola on December 16 that the Chambishi south-east ore body has a lifespan of over 25 years.

Mr Xu said the construction of the mine is expected to start early next year.

“The south-east ore body will be bigger and the construction of the mine will take three to five years. All logistics are in place and the money for the construction and development of the mine has been secured from Chinese investors,” he said.

Mr Xu said the mine will enhance the beauty of the Chambishi multi-facility economic zone (MFEZ). He commended President Banda’s administration for its commitment to developing the mining sector.

He said he is happy that the construction of the mine is receiving maximum support from both the Chinese and the Zambian governments through the Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH).

He said the Chinese mining giant is committed to contributing to Zambia’s economic development through the remittance of taxes to Government.

Mr Xu said once completed, the Chambishi south-east ore body project will result in increased ore production capacity to four million tonnes per year.