China Nonferrous Metal Mining Company (CNMC) has unveiled plans to invest $1.6 billion in Zambia, signaling a major boost for the nation’s mining sector. The announcement followed discussions between CNMC officials and President Hakainde Hichilema at State House.
Wen Gang, CNMC Chairman and CEO, alongside Chinese Ambassador to Zambia Han Jing, reaffirmed the company’s dedication to supporting Zambia’s economic growth. Wen highlighted ongoing efforts at the Luanshya Copper Mine, where CNMC has removed nearly 30 million cubic liters of water from Shaft 28 as part of dewatering operations.
The company also plans to allocate an additional $200 million to develop a greenfield mine on the Copperbelt, marking a significant expansion of its operations.
President Hichilema welcomed the investment, emphasizing its potential to create jobs and stimulate local industries. “This $1.6 billion investment, coupled with advanced technology, will expand operations, generate employment, and open up opportunities for Zambians in mining contracting and supply,” he said.
The President expressed gratitude to Chinese President Xi Jinping and the Chinese government for their continued support in strengthening bilateral cooperation and fostering Zambia’s economic development.
