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China Nonferrous Metal Mining Company (CNMC) has announced a US$1.6 billion investment in Zambia, following discussions with President Hakainde Hichilema at State House on Tuesday.
CNMC Chairman and Chief Executive Officer, Wen Gang, along with Chinese Ambassador to Zambia, Han Jing, confirmed the company’s commitment to furthering Zambia’s economic development.
“We are actively investing in critical sectors of Zambia’s economy,” Gang said.
He noted that CNMC was currently pumping water from Shaft 28 at Luanshya Copper Mine, where 29.9 million cubic liters have been cleared as part of intensified dewatering efforts.
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He added that the company plans to inject an additional $200 million to develop a greenfield mine on the Copperbelt.
President Hichilema welcomed CNMC’s commitment, highlighting the potential economic impact.
“This US$1.6billion investment, alongside advanced technology and expansion, will extend operations and create more jobs and opportunities for Zambians, especially in mining contracting and supply,” he said.
The President also expressed gratitude to Chinese President Xi Jinping and the Chinese government for their shared commitment to fostering growth and cooperation between the two countries.
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