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Jeu 6 Jan 2011 11:56
NCFA Mining to upgrade Luanshya Copper Mines in Zambia
Jan. 6, 2011 (China Knowledge) - NCFA Mining, a subsidiary of China Nonferrous Metals Co<8306>, plans to invest at least US$25 million to upgrade the Luanshya Copper Mines in Zambia, the Wall Street Journal reported, citing an executive from NCFA as saying on Tuesday.
The company plans to reorganize and upgrade the factory's machines and equipment to boost cooper ore output, said Sydney Chileya, spokesperson of Luanshya Copper Mines.
China Nonferrous Metals acquired an 80% stake in Luanshya Copper Mines for US$50 million. The mines cover a mining area of 145 square kilometers, with total ore reserve of 181.8 million tons.
In addition, the Hong Kong-listed company announced last year that it would invest US$400 million in total in Luanshya Copper Mines by 2012 to increase copper product output to 60,000 tons.