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Chinese non-ferrous firm explores Zambia

06-06-2012 09:21 BJT

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China's state-owned enterprises are going overseas. This story is about a Chinese non-ferrous metal enterprise in Zambia. The company is China Non-ferrous Mining Corporation, or CNMC, which started its business in Zambia’s copper mining sector in 1998. During this period, CNMC has created jobs in the local economy and provided tax revenues for the government.

The business environment has not always been as harmonic. Addressing the Chinese community in Zambia, Michael Sata, the African state’s president has pledged that they would not be expelled from the country.

Sata said, "Oct. 2011 Presidential Palace"

Sata’s shift in attitude is mainly thanks to the major role played by the Chinese state owned enterprise CNMC in the local economy.

The CNMC has acquired several miners in Zambia since it set foot in the country among them is Luanshya Copper Mines, in which CNMC got a 80 percent stake in 2008. The acquisition has helped the troubled corporate miner to survive and save more than 2300 local jobs.

Meanwhile, the average income of a CNMC employee is around 1000 U.S. dollars per month. Every staff and his family members here also get the benefits of free medical treatment.

In the past 15 years, CNMC has set up 6 secondary companies in Zambia and has created over 10 thousand jobs for the locals. The tax revenue also reached more than 90 million U. S. dollars.

Meanwhile, CNMC is making integration efforts with the local culture. The Chinese company has sponsored the construction of the largest sports stadium in Zambia. In 2012, the Zambia national soccer team has won the African Cup in this stadium.

Singing a traditional African song of friendship, Chinese firms active in the country wish the cooperation and friendship could last forever.


Editor:Zhang Rui |Source: CNTV.CN

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