By Ruth Chayinda
China Non-Ferrous Metals Mining Group Company – CNMC- will invest an additional 1.3 billion US dollars in Zambia in the next five years in various economic sectors.
CNMC Chairman XI ZHENG PING says the investment will go towards the mining industry education, science and technology sectors.
Mr. XI says the Group Company is confident that by the end of 2025, they would have invested 650 million dollars in the economy.
He says among the new projects to be undertaken by the group companies is the 400 million US dollar investment into Chambeshi copper mine while 600 million will be used to reopen number 28 shafts of Luanshya copper mine.
Speaking when he paid a courtesy call on President HAKAINDE HICHILEMA at Statehouse, Mr. XI explained that 200 million US dollars will be invested in Sino metals and other warehouse projects and Luanshya vocational training school expansion projects.
And President HICHILEMA said following the meeting held between Zambia and China there is need to create a checklist and further called for joint ventures in the various economic sectors.
President HICHILEMA also called on China to partner with Zambia in mineral mapping saying that only 50 percent of the country has been explored.
He said the various issues that have been highlighted in the meeting will be addressed so that both Zambia and China can have a win-win relationship.
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