China Trade Information

Non-ferrous China Africa, a subsidiary of the State-owned China Non-ferrous Metals Mining Corporation (CNMC) announced on Saturday that it has invested US$100 million in Chambishi copper mine in Zambia, reported China Daily.

The copper mine project, scheduled to be completed within three years, has an estimated copper reserve of 34 million tons with a copper grade of 2.03%. It is expected to produce 1 million tons of copper annually in 25 years.

Chambishi copper mine, one of the earliest privatized mining units in Zambia, was reopened in July 2003 after closing for about 13 years. The mining in the main ore is capable to produce 24,000 tons of copper per year.

CNMC, the largest owner of non-ferrous metal mines in China, has business covering investment, development and management of non-ferrous metal mines both at home and abroad. It has taken over the Chambishi copper in May 1998.

Tags: Copper

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