More investors vie for caol mining in zambia

THE INCREASED DEMAND FOR COAL IN ZAMBIA HAS GIVEN RISE TO OTHER PRODUCERS OF THE PRODUCT TO CONSIDER INVESTING IN THE COUNTRY AS THE ECONOMY EXPANDS.

FOUR MORE COAL MINES, BESIDES THE TRADITIONAL MAAMBA COLLIERIES AND THE CHINESE OWNED AND RUN COLLUM COAL MINE WILL BE SET UP IN SIANZONGWE IN THE SAME LOCATION.

THIS  FOLLOWS  PROPOSALS BY THE TWO COMPANIES, A FOREIGN AND AN INDIGENOUS TO INVEST IN THE COUNTRY BEFORE THE END OF THE YEAR AND INCREASE OUTPUT.
MAAMBA COLLIERIES, ZAMBIA’S OLDEST AND LARGEST PRODUCER OF COAL IN THE COUNTRY AND THE SOUTHERN AFRICAN REGION IS EXPECTED TO COME ON STREAM BY JULY THIS YEAR AFTER PRIVATIZATION FORMALITIES ARE COMPLETED BY NAVA BHARAT OF SINGAPORE AND THE ZAMBIAN GOVERNMENT THROUGH THE ZAMBIA DEVELOPMENT AGENCY.
ACCORDING TO REPORTS, INDIA’S EMCO OVERSEAS PTE LIMITED AND KAZINSE MINING LIMITED, A WHOLLY-ZAMBIAN OWNED COMPANY BASED IN SINAZONGWE DISTRICT NEAR THE BORDER WITH ZIMBABWE HELD A SCOPING MEETING ON FEBRUARY 19 WITH VARIOUS INTEREST GROUPS FOR THE DEVELOPMENT OF USD 120 MILLION COAL MINE AND THERMAL ELECTRIC POWER GENERATION PLANT.
RICHWELL SIAMUNENE MANAGING DIRECTOR OF KANZINSE MINING LIMITED FLANKED BY DAKSHINA MURTHI MANAGER OF EMCO SAID THAT THE ESTIMATED COST OF BOTH THE COAL MINE AND POWER PLANT IS USD 160 MILLION.

THE POWER PLANT WILL INITIALLY HAVE A CAPACITY OF GENERATING 300 MEGGA WATTS AND WILL BE UPGRADED TO 600 MEGGA WATTS WITHIN 5 YEARS WHILE THE FINAL TARGET OF 600 MW WILL BE APPROXIMATELY EQUIVALENT TO THE CURRENT ELECTRIC POWER CONSUMPTION OF THE MINING INDUSTRY.

AND DISTRICT COMMISSIONER OLIVER PELETE SAYS INDONGO MINING COMPANY OF SOUTH AFRICA, OPERATING AS JOINT VENTURE WITH SOME ZAMBIANS SEEKS TO INVEST USD 10 MILLION IN ANOTHER NEW COAL MINE IN SINAZONGWE.

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