Zambia Daily Mail reported that Zambia's biggest mining firms intends to invest a further USD 500 million as it tries to consolidate its production in the southern African nation.

Konkola Copper Mines said that its new investment will help it expand asset base and raise its target copper production to 400, 000 tonnes per year.

The company's chief executive officer Mr Jeyakumar Janakaraj said it will focus on long term investments in Zambia's mining sector to achieve increased production in the coming years.

KCM, a unit of London listed Vedanta Resources is one of the largest investors in the Zambian mines and has so far invested USD 2.5 billion dollars since coming into Zambia in 2004.

According to Daily Mail, the company commissioned a new USD 100 million concentrator at one of its mines Nchanga on the Copperbelt province which will improve the plant's availability and metal recoveries by about 15% and also help cut operational costs.

The official was quoted as saying by the paper that "This new facility will enable KCM to reduce waste, recycle and dispose of all waste products. KCM will always seek new methods to balance the constant need for development with a commitment to continuously protecting the environment.”

(Sourced from XINHUA)