Cinfeng Investment Plans to Reopen Munali Nickel Mine in Zambia with $35 Million Investment
Cinfeng Investment Limited Group aims to invest over $35 million to reopen the Munali Nickel Mine in Southern Province, Zambia. The initiative could provide new employment opportunities for former workers affected by the mine's previous closure.
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Cinfeng Investment Limited Group is in discussions with Albdone Mine to reopen the Munali Nickel Mine in Chikanta District. The company has earmarked $35 to $40 million for machinery and investments required for the reopening.
Southern Province Minister Credo Nanjuwa confirmed governmental support for the venture, emphasizing the need for transparency and adherence to laws. He urged prioritization of former employees, noting over 400 lost their jobs during the mine's liquidation. The outcome of the negotiations will determine the timeline for resuming operations, which the company aims to finalize promptly.
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