Chinese bankrolling Zambian mining

Mining exploration and
development in Zambia is to
receive a US$5-billion boost
in the form of loans from the China
Development Bank offered to mining
companies.
Zambian minister of mines and
minerals development Maxwell
Mwale made the announcement in an
interview with the Zambia Daily Mail
recently.
President Rupiah Banda is also
quoted by the state-run news agency
Zanis as saying that the medium-term
and long-term loans would be provided
to private companies operating in
Zambia under an agreement signed
between the Ministry of Mines and the
China Development Bank.
China has also announced that it
will be providing U$1-billion in equity
capital to help the country increase
its electricity generation capacity –
which will be needed to power the new
mining operations.
This will be good news for the
freight industry, which is largely
driven by the Zambian mines