Chinese mining firm pledges more investment in Zambia to boost industry development
LUSAKA, Sept. 26 (Xinhua) -- China-Zambia joint venture, Non-Ferrous Corporation Africa Mining PLC (NFCA), marked its 25 years of operation in Zambia's Chambishi district in the Copperbelt Province on Monday, with a promise to increase its investment in its operations.
Li Zhanyan, chairman of NFCA, said the company plans to invest about 400 million U.S. dollars and increase its annual copper production to 110,000 tonnes per year. The company's current cumulative investment was 1.5 billion dollars, which has resulted in the creation of 5,600 local jobs, Li said. "Our commemoration of NFCA's 25th anniversary is a new starting point for us to accelerate our progress in building a world-class mining company."
Zambia's Minister of Mines Paul Kabuswe commended NFCA for transforming the Chambishi mine, which was once closed for 13 years, into a vibrant and focused mining company through the introduction of appropriate technology and expertise.
He said the company's investment was a perfect example of China's efforts to catalyze investments in projects of strategic and critical minerals to build more transparent, predictable, secure and sustainable supply chains that will drive the energy transition and climate-smart economy.
He pledged the government's commitment to continuously implementing various policy and legislative measures aimed at providing an enabling environment for the mining sector to thrive. "As a government, we are headed in the right direction. This is because the prospects for the mining sector are positive, and we are committed to ensuring that the mining sector continues to play its role in national development."
Xi Zhengping, chairman of China Non-ferrous Metal Mining Group, the parent company of NFCA, commended the NFCA for its technological advancement of the mining industry in the southern African nation. He said the company has adhered to the principle of extensive consultations, joint contributions, and shared benefits, and actively participated in Zambia's economic development.
"This has unlocked the value of Zambia's non-ferrous metal mineral resources development and promoted the upgrading of the mining and smelting industries," he said. He noted that the visit by Zambian President Hakainde Hichilema to the company's headquarters during his recent visit to China, which resulted in the signing of relevant projects with the company, has injected new impetus into Zambia's economic and social development.