Singapore firm to spend $108 million on Zambia coal mine
Singapore mining
company, Nava Bharat Pte, will spend $108 million on modernising
Zambia’s Maamba coal mine, which it acquired in December last year, the
head of the Zambian operation said on Saturday.
Kalunga Mumba,
chief executive of Maamba Collieries Ltd., said the money would be
invested in a new coal processing plant and mining equipment over the
next 18 months. The mine is expected to produce 360,000 tonnes of coal
for the first year.
The thermal power
plant is important for the mine’s operations. Maamba, which used to be
a key supplier of coal to the country’s copper mines, lost that
business after the mines switched to using electricity, said, Mr. Mumba.
Nava Bharat in
December acquired a 65 percent stake in Maamba, while 35 percent of the
shares were retained by state-run ZCCM-IH.
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