Northwest Rail Co. of Zambia agreed with Grindrod Ltd., a South African transportation company, to build a $989 million railroad connecting mines owned by Canada’s Barrick Gold Corp. and First Quantum Minerals Ltd.
Work on the project, also connecting Zambian mines to the Angolan border, should start in 2014, Grindrod said today in an e-mailed statement. Zambia is Africa’s biggest copper producer.
