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Zambezi to Invest $494.6 Million in Copper Mine, Mail Reports

Zambezi Resources Ltd. (ZRL)’s Mwembeshi Resources unit will invest $494.6 million developing a copper mine in Zambia’s Chongwe district, the Zambia Daily Mail said, citing a statement from the company.

The Mwembeshi open-cast mine is expected to produce about 15 million metric tons of copper a year, the Lusaka-based newspaper reported.

Zambezi Resources was granted a license to dig copper at Mwembeshi in 2003, the Daily Mail said.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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