Chinese firms plan to increase investment in Zambia's mining sector

Chinese companies operating in Zambia plan to increase their investment in the southern African country's mining sector by 5 billion U.S. dollars over the next five years and increase production to 280,000 tonnes of copper.

LUSAKA, Oct. 9 (Xinhua) -- Chinese companies operating in Zambia plan to increase their investment in the southern African country's mining sector by 5 billion U.S. dollars over the next five years and increase production to 280,000 tonnes of copper.

Li Zhanyan, chairperson of the Chinese Mining Enterprises Association in Zambia, said at the inaugural 2024 Zambia Mining and Investment Insaka (Gathering) Monday that the companies have invested more than 3.5 billion dollars in Zambia's mining industry in the past 26 years, creating 15,000 jobs and producing 130,000 tonnes of copper in concentrate, 250,000 tonnes of blister copper, and 50,000 tonnes of leach copper annually.

The meeting, themed "Mining Beyond Copper -- Celebrating 100 Years of Mining in Zambia," is being held in the Zambian capital of Lusaka from Oct 7-11. Bringing together more than 2,500 participants, it provides a platform for knowledge sharing, cooperation, and investment to drive Zambia's mining industry.

Chinese companies plan to promote innovation by applying digitalization, automation, and artificial intelligence to improve the efficiency of resource exploration and mining, minimize environmental damage, and enhance the safety of industry operations, Li said.

"We will encourage member enterprises to introduce globally advanced technologies, drive the implementation of technologies like tunnel boring machines, and attract high-tech companies to Zambia to boost its competitiveness in the global sector," he said.

Li added that the association will encourage members to take advantage of Zambia's mining development potential, build platforms for international cooperation, and promote regional infrastructure development.

In his remarks at the opening of the meeting, Zambian President Hakainde Hichilema said the government is grateful to mining investors for their interest in the Zambian economy.

He said partnerships are the best way to share expertise, add value, and introduce the most advanced technologies to the mining sector.

The president urged investors to take advantage of the country's conducive environment and consistent policies by investing in the mining sector.■