China Nonferrous Metal Mining ( Group) Co., LTD(CNMC) and three Zambian mining companies signed memorandum of understanding separately in Lusaka Thursday on mining development.

The three Zambian companies are Kachumu, Sulmach and Mudenda.

Chinese ambassador Li Baodong, Minister of Zambia's mineral- rich Northwestern Province James Katoka and other senior Zambian officials attended the signing ceremony.

Li said China and Zambia enjoyed equal and mutually beneficial relations and hoped that the two countries would enhance cooperation in mining sector.

Zhang Keli, vice general manager of CNMC, said at the ceremony that CNMC's total investment in Zambia would increase to 400 million US dollars in the near future and create 3,500 job opportunities for local people.

Under the MOU, CNMC will conduct geological prospecting in the mines offered by the three companies before reaching final agreements on the cooperative development of the mines.

Source: Xinhua