Administrateur du site
Messages: 4394
Inscription: Jeu 30 Juil 2009 16:48
Localisation: la seyne sur mer
China's CNMC gets approval for Zambia mine purchase Thu
Thu Oct 15, 2009 5:06am GMT
Print | Single Page
[-] Text [+]
BEIJING (Reuters) - The Chinese and Zambian governments have approved China Nonferrous Metal Mining Corp's $50 million acquisition of an 80 percent stake in Zambia's Luanshya Copper Mines, Chinese state media reported on Thursday.
Luo Tao, CNMC president, said the state-owned Chinese firm aimed to lift Luanshya into the ranks of Zambia's top-three copper producers, the official People's Daily newspaper reported.
Earlier this year CNMC pledged to invest $400 million in Luanshya, which had been shut by its previous owners in December 2008, after taking over the running of its mines.
Critics in Zambia have said that the purchase price for Luanshya was too low and have questioned the transparency of the bidding process.
China's government and its state-controlled companies have invested billions of dollars in Africa to secure natural resources for its fast-expanding economy, a push that has brought Africa much welcomed cash but also fuelled concerns about China's growing influence.