Singapore’s Nava Bharat to Invest $108m in Zambian Mine

24 August 2010 (Last Updated August 24th, 2010 18:30)

Singapore's Nava Bharat will invest $108m to modernise Zambia's Maamba coal mine. Nava Bharat CEO, Zambian operations, Kalunga Mumba said the money will be invested in a coal processing plant and mining equipment over the next 18 months, reports Reuters. The mine is expected to p

Singapore's Nava Bharat will invest $108m to modernise Zambia's Maamba coal mine.

Nava Bharat CEO, Zambian operations, Kalunga Mumba said the money will be invested in a coal processing plant and mining equipment over the next 18 months, reports Reuters.

The mine is expected to produce 360,000t of coal for the first year and 600,000t of marketable-grade coal for the next two years.

Nava Bharat acquired a 65% stake in Maamba, while 35% of the shares are retained by state-run ZCCM-IH.