China opens another copper mine in Zambia
Updated: 2007-10-28 09:34
Here's a quick quiz. What CHINESE Economic Hitman got to the Zambian ruling class?? Sure seems like they have learned the lessons from the US empire thoroughly and want to profit Big Time .. Who do you suppose gets the kickbacks, the perks, the big bank account? Who do you suppose will be paying back the World Bank when the time comes?? Oh, how little we are told. How much higher is Zambia's GMP NOW??? V.
China opened another copper mine in Zambia, Non-Ferrous China Africa (NFCA) of China Non- Ferrous Metals Mining Corporation (CNMC) announced Kitwe, Zambia Saturday.
Zambian Vice President Rupiah Banda on behalf of President Levy Mwanawasa officiated the opening ceremony of Chambishi West Orebody Project within the mine which was taken over by the CNMC in 1998.
In the address read on his behalf by Banda, Mwanawasa said Chambishi copper mine is one of the earliest mining units to have been privatized in his country.
"The significance of this fact is that it is a reflection of the tremendous support and brotherhood that exists between China and Zambia. The Chinese people quickly moved into action to support our privatization program by participation in the bidding process," he said. "The two countries have enjoyed longstanding friendship."
Chinese Ambassador Li Qiangmin, chief executive officer (CEO) of Zambia-China Economic and Trade Cooperation Zone (ZCCZ) Tao Xinghu and CEO of NFCA Luo Xingeng also addressed the ceremony, highly speaking of the win-win economic relations between China and Zambia.
Total reserves of the West Orebody are estimated at about 34 million tons with a copper grade of 2.03 percent. The expected copper ore annual output is one million tons. The sevice life of the mining project is estimated at 25 years.
Total investment for the project is US$100 million and its construction is expected to be completed in three years. It will provide 1,500 new job opportunities for the local people.
The production in Chambishi main orebody was reopened in July of 2003 after closing for as long as 13 years. The mining in the main orebody now can produce 24,000 tons of copper annually and employs 2,000 local people.