- Write by:
-
Wednesday, September 11, 2024 - 17:22:54
-
74 Visit
-
Print
A Chinese state-owned company will finalize an agreement to take over the concession of a railway that links Zambia’s copper mines to a Tanzanian port by the end of 2024, according to the agency in charge of the line
Heads of state of the three countries last week witnessed the signing of a memorandum of understanding to restore the 1,860-kilometer (1,160 miles) railway that Mao Zedong’s China financed and helped build in the 1970s. That signaled the start of its biggest upgrade yet, which the Chinese government previously said would see it investing more than $1 billion.
“We are currently engaged in active negotiations with the China Civil Engineering Construction Corp.,” the Tanzania-Zambia Railway Authority said in an emailed statement Tuesday.
The line may play a crucial role in the energy transition, as copper and cobalt mine operators in Zambia and neighboring Democratic Republic of Congo seek routes to get their growing production to ports. Trucking already faces logjams and journeys that take weeks. The Tanzania-Zambia Railway will compete with a US-backed rail line known as the Lobito corridor that runs westward to an Angolan port.
The rehabilitation of infrastructure and rolling stock will take about two years, Tazara said. The concession period will be as long as 30 years, and annual tonnage on the line carries will quadruple to about 2 million tons, it said.
Short Link:
https://www.miningnews.ir/En/News/629035
Brazilian miner Vale aims to boost its copper production, the company’s new CEO said on Wednesday, conceding it has lost ...
Tanzania’s central bank said it will buy gold at market prices from mining firms and traders who were ordered last week ...
Quebec-focused explorer Yorbeau Resources has agreed to sell its flagship Rouyn gold property to a group of Australian ...
Uganda has formed a state-owned mining company to manage the government’s equity interests in mining operations, its ...
Canada published a list of dozens of Chinese steel and aluminum products on which it will place a 25% tariff, starting ...
Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to ...
Zimbabwe’s poor infrastructure and policy inconsistencies are worsening the impact of depressed lithium prices on ...
Canadian small-scale gold miner Eros Resources would merge with rivals MAS Gold and Rockridge Resources to develop ...
Some companies in Asia and Europe are starting to substitute cheaper aluminum wire for copper and the trend is due to ...
No comments have been posted yet ...