CNMC making massive Zambia investment increase

The China Nonferrous Metal Mining (Group) Co Ltd (CNMC) plans to significantly increase its investment in Zambia, over the next few years, by the equivalent of what it has spent there over the past 12 years, according to a senior executive of the company.

CNMC, one of the earliest Chinese companies in the non-ferrous metals industry to adopt a "go-aboard" policy, plans to make a nearly $2-billion investment in Zambia, during the 2011-2015 period, its vice-president, Tao Xinghu, said.

Tao added that the company, which is primarily engaged in the development of nonferrous metal resources, construction engineering and related services, is optimistic about its future in the African country.