Zambia Attracts $4.5 Billion Mining Investments -Report

May 31, 2010 (DOW JONES NEWSWIRES) -The Zambian government has attracted at least $4.5 billion worth of investments in its mining sector since the completion of the privatization of the copper mines in the early years of this decade, state media reports Monday.

Zambian state news agency, ZANIS quoted Commerce and Trade Minister Felix Mutati as saying that as a result of the surge in investments, the country's copper production is projected to hit 1 million metric tons in the next couple of years. Zambia is Africa's top copper producer.

Mutati added that new investments had changed the face of the country's economy. He cited projects being undertaken by Vedanta Resources PLC's (VED.LN) Konkola Copper Mines, the country's largest copper producer, Equinox Minerals Ltd.'s (EQN.T) Lumwana Copper Mines and First Quantum Ltd.'s (FM.T) Kansanshi Copper Mines.