NFC Africa Mining PLC, a subsidiary company of China Non-ferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd (NFC), has succeed to purchase Luanshya Copper Mines (LCM) in Zambia, and promised to inject $400 million.
An official of Zambian mines and minerals develop department said that the management right of LCM has been relegated to NFC Africa Mining PLC in June 24th. Luanshya copper mine has been suspended since December, 2008. NFC Africa Mining PLC promised to inject $400 million into LCM and process Mulyanshi copper project which annual output would be 60 thousand tons.
Source: Sina