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NEW mine and railine to gobble $130 million

By TITUS YABO

UNIVERSAL Mining and Chemical Industries Limited (UMCIL) has said it will invest over US$130 million in the development of two iron ore mines and a railway line from Lusaka to Mumbwa.

UMCIL director Bright Chunga said in an interview on March 10 that his company plans to build two iron ore mines in Mumbwa and Nampundwe.

“We have plans to build a railway line from Lusaka to Mumbwa and we will also develop a mine in Mumbwa and Nampundwe. The railway line will facilitate easy transportation of our product,” he said

Dr Chunga said railway transport is cheaper and will facilitate the transportation of products for export.

“The railway line will be cheaper than road transportation. And it will be easy for us to move our products for export. This will ease pressure on the roads,” he said.

Dr Chunga said UMCIL plans to invest more than US$30 million in another mine in Kafue this year.

UMCIL runs a steel plant in Kafue, whose production capacity is 100,000 tonnes per year.

Iron Ore is the main component in steel.

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