- Write by:
-
Wednesday, September 11, 2024 - 17:22:54
-
61 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
Canadian miner First Quantum Minerals has opened a voluntary retirement scheme to workers at the Cobre Panama mine, two ...
South African coal miner Seriti Resources plans to cut 1,241 jobs to contain costs due to lower prices and persistent ...
Mining News Pro - The CEO of the National Iranian Copper Industry Company announced a 25% increase in the nominal ...
Ivanhoe Electric (NYSE American: IE) (TSX: IE) said on Monday the preliminary feasibility study (PFS) for its Santa Cruz ...
Canada’s Lucara Diamond has dug up a 1,094-carat diamond from its Karowe mine in Botswana.
Zimbabwe plans to tackle rampant gold smuggling by increasing surveillance at mining sites, Mines Minister Winston ...
Ivanhoe Mines is expanding its exploration footprint into another top 10 copper-producing nation, with a view of ...
An unexpected shutdown at one of China’s biggest lithium mines has left the industry scrambling to judge if the move ...
Sibanye Stillwater Ltd. plans further restructuring at its mines in Montana that could cut output of palladium and ...
No comments have been posted yet ...