CNFM Commit US$1.3 Billion Investment In Mining, Science & Technology

China Non-Ferrous Metals Mining Limited (CNFM) has made a substantial commitment to Zambia's economy, pledging a remarkable US$1.3 billion investment over the next five years.

The investment is aimed at bolstering diverse operations encompassing mining, science, and educational technology, promising significant benefits for employment and economic growth in Zambia.

In a meeting with Zambian President Hakainde Hichilema, CNFM group chairperson Xiao Shuxin outlined the ambitious investment plan.

By the end of 2025, a considerable portion, amounting to half of the pledged $1.3 billion investment, is set to be completed. Notably, Chambeshi Copper Mines, a vital entity within CNFM's operations, is slated to receive a substantial portion of this investment, with a planned allocation of $450 million.

The injection of such a substantial sum into mining operations and technology in Zambia is anticipated to have a cascading effect on the nation's economy, leading to increased employment opportunities and fostering a more robust economic landscape.

This development underscores the deepening economic ties between China and Zambia, paving the way for enhanced collaboration and growth in the years to come.