TradeInvest Africa (Cape Town)
30 June 2009
The China Non-Ferrous Metal Mining Company (CNFC) has taken charge of Zambia’s Luanshya Copper Mines, reports the Times of Zambia.
Production at Luanshya Copper Mines had been halted and the workforce laid off in November of last year following a fall in copper prices. CNFC has promised to use the $400 million investment in the mines to add value to Zambia's economy by creating more jobs and restoring the mines to profitability in the near future.
The investment by CNFC is seen as a public relations coup by the ruling party, who have described it as "the result of decisions taken by a responsible leadership."
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