LUSAKA - SINGAPORE mining company Nava Bharat Pte will spend US$108 million (S$146.6 million) on modernising Zambia's Maamba coal mine, which it acquired in December last year, the head of the Zambian operation said on Saturday.
Kalunga Mumba, chief executive of Maamba Collieries Ltd, said the money would be invested in a new coal processing plant and mining equipment over the next 18 months. The mine is expected to produce 360,000 tonnes of coal for the first year.
'We expect this equipment to start coming in within the next two to three weeks,' he said at a media briefing.
Mr Mumba said Nava Bharat planned to start building a 300 MW thermal power plant near the mine in February next year after concluding negotiations with state power utility Zesco Ltd for a long-term power purchase agreement.
'Construction of the power plant should take about two and half years,' he said.
Nava Bharat will start stockpiling coal to ensure the thermal power plant has a steady supply of fuel when it starts operating, he said. -- REUTERS
