Chinese Investors Make Second Rating Tour of KCM


A delegation of over 50 Chinese from the China Non Ferocious Mining Company (CNMC) has made a second evaluation tour of Konkola Copper Mines (KCM) as the sale of the mine nears completion.

Vedanta Resources that owned 79 per cent of the mine is contesting the government’s takeover in the courts, arguing that the move will make them lose out millions of dollars invested in the mine.

Sources have revealed that over 50 Chinese nationals have put themselves in groups to tour the Finance Department, Human Resource and IT in their familiarization tour of KCM.
It has further been reported that two Chinese lawyers, Lui Jin and Chang SJ, are part of the team and familiarized themselves at the Legal Department.

“As I speak to you now, a delegation of over 50 leading Chinese business people are at KCM to finalise the deal. This is the second time that they are here, but I think there is a great chance that the deal will be concluded this week or early next week, or at least within this month,” the source said of the delegation consisting mainly of Chinese men and women and a few local indigenous Zambian staff from CNMC.

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