CNMC takes over Luanshya mine
China Non-ferrous metals Mining Company, CNMC,has officially taken over the management and administration of Luanshya Copper Mines.Speaking at the hand over ceremony in Luanshya, Mines minister Maxwell Mwale said President Rupiah Banda has delivered on his promise to find a new investor for the mine.
Mr. Mwale said the hand over of the mine ends the anxieties that people of Luanshya have been going through during the time of the closure.
He noted that it also marks a new chapter in the history of the mining town which has suffered mine closures before.
And CNMC vice chairman, Tao Xinghu said the investment pumped into Luanshya copper mines is long term.
Mr. Tao said CNMC is not investing in Luanshya to make quick profit and close down but wants to help Zambia's mining sector develop.
He said CNMC wants to continue contributing to the co-operation existing between China and Zambia.
