Lusaka, Zambia (PANA) – China Non-Ferrous Mining Corporation, comprising five companies in Zambia, has been listed on the Hong Kong Stock Exchange, becoming the first African asset to be listed on the Hong Kong Stock exchange.
Zambia’s Finance Minister Alexander Chikwanda, who congratulated China Non-Ferrous Mining Corporation for the accomplishment, said an initial public offer of US$ 300 million intended to finance projects in Zambia is a legitimate cause for hope, especially seen against the backdrop of current huge challenges in the global economy.
“For us in Zambia, this positive affirmation of confidence by the global community in our country as a credible investment destination can only cheer us. It puts to rest some of the negative assertions about Zambia’s outlook, which in any case can only be ultimately determined by what we Zambians do and not prophets of doom in the international community,” Chikwanda said in a statement released Wednesday.
The Finance Minister urged other mining houses, banks and information technology companies to list on the Lusaka Stock exchange so as not to only widen Zambian participation in the economy but to tap the hidden and latent capital.
China Non-Ferrous Mining Corporation Limited comprises of the five companies in Zambia which are Zambia-China Economic and Trade Cooperation Zone [ZCCZ]; NFC Africa Mining Limited; Chambishi Copper Smelter Limited; CNMC Luanshya Copper Mine; and Sino-Metal Leach Company Limited.
-0- PANA MM/VAO 4July2012