Bloomberg cited Mr Boris Malakhov Russia’s ambassador to Africa’s biggest copper producer as saying that Russian businesses are seeking large scale investments in mines and farms in Zambia.

Mr Boris Malakhov said that “One of the greatest attractions Zambia has is its predictable political stability which creates a good investment environment. That’s why Russian companies want to come and invest not just in copper but in other areas including construction and agriculture.”

Mr Malakhov said that he has received overwhelming applications and expressions of interest from Russian companies that are eyeing Zambia as their next best investment destination.

Mr Alexander Chikwanda finance minister of Russia said that the southern African country produced more than 700,000 tonnes of copper last year and is targeting 1.5 million tonnes by 2014. The government wants economic growth to exceed 7% next year compared with an estimated 6.5% expansion in 2011.

(Sourced from Bloomberg.net)