Zambia NFCA Starts Work On $832 Million Copper Project

[bingogo]

Written By DOW JONES NEWSWIRES

Published February 20, 2012



DOW JONES NEWSWIRES

Chinese-owned NFCA Mining has stated developing a $832 million copper mine project in Zambia's Copperbelt province as it steps up efforts to boost copper production at its Zambian operations, Zambia's state media reported Monday.

The south east Chambishi ore body, located near NFCA's existing Chambishi Copper Mine, is expected to produce 100,000 metric tons of copper per year upon completion, creating more than 5,000 jobs, the Times of Zambia reported.

According to Zhou Liang, the NFCA chief executive, the company has set aside Zambian Kwacha 1. 3 billion ($260,000) to relocate residents who will be displaced by the project.

NFCA, a unit of China Nonferrous Metals Co. (8306.HK), already operates several copper mines and plants in Zambia, including the 150,000 tons-a-year Chambishi Copper Smelter and the Luanshya Copper Mine

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