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Chinese Investment in Zambia Mining Sector Hits $2 Billion-Paper

China's Automobile Production and Sales both Drop Monthly in May 

Jun 03, 2010 (DOW JONES NEWSWIRES ) --
Chinese investments in Zambia's mining sector and the multi-facility economic zones on the Copperbelt province have reached $2 billion making China the largest single investor in the country, Zambia's Post newspaper reports Thursday.
The privately owned daily quoted the commerce minister, Felix Mutati, as saying that Zambia is now using China's business interest in the country to attract more investors. Part of the $2 billion is being used to develop the Mulyanshi Copper Mine, whose initial development was differed in 2008 following the dipping of global copper prices.
&quot;We are optimistic that investment from China will continue to grow,&quot; he was quoted as saying.
Chinese-owned enterprises now own Chambishi Copper Mines, Luanshya Copper Mines and the 150,000 metric tons-a-year Chambishi Copper Smelter as well as the Mulyanshi Copper project which is being developed. 
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