The Chinese owned NFC Africa Mine has recorded an annual increase in both its copper and gold production at its Chambishi based mine of kalulushi district on the Copperbelt. At this rate of production, Kalulushi town is expected to get some linkage industry success if local authorities negotiate proper deals.
Copper production at Non-Ferrous China Africa (NFCA), a subsidiary of the state-owned China Nonferrous Metals Corporation (CNMC) increased by over 5,000 tons in 2022 from about 62,300 tons recorded in 2021 to 67,600 tons recorded in 2022. An an average copper price of $9,000 per ton, the mine has produced copper worth $608 million.
The Chinese owned mine has posted two consecutive years of increased production as the report further shows an increase of 18,675 tons when compared to the about 48,900 tons of copper produced in 2020.
According to the consolidated report obtained by the Zambian Business Times – ZBT – compiled by the Ministry of Mines and Minerals Development, Gold production at the chinese mine also increased by about 3kgs from about 51 kgs in 2021 to about 54 kgs in 2022
Non Ferrous Company Africa Mining – NFCA was established in March 1998 as the holding company of Chambishi Copper Mine as part of the privatization of Zambia Consolidated Copper Mines Limited (“ZCCM”). It is majority owned by China Non-ferrous Metals Company Limited (“CNMC”), which holds an 85% shareholding stake, whilst ZCCM – Investments Holdings holds a 15% shareholding stake.
