Chinese firm to invest $2bn
A Chinese mining company conducting explorations on the Copperbelt has appealed to the government for a mine prospecting licence.Zhonghui Mining Industry want to open up new mines in Luapula and North-Western provinces at a cost of $2 billion.
Company President Charles Shi said the firm plans to set up a new city in the North-Western Province, complete with an independent hydropower station and water supply system.
Mr. Shi said the mining company does NOT intend to use power from ZESCO's national grid but to construct a new hydro power station on one of the rivers in the North-Western.
He said Friday that if approved, the smelter will be biggest in Zambia.
Mr. Shi was speaking at the headquarters of Zhonghui International Mining Group based in Beijing when he met Commerce Minister, Felix Mutati.
Mr. Mutati said once implemented, the project will be the biggest investment by a private company in the history of Zambia.
