Congo’s Gecamines offers $1 million to block Chinese deal with Chemaf
Chemaf agreed to sell its assets to Chinese defence and industrial giant, China North Industries Corp, or Norinco in June.
Zambian President Rupiah Banda opened the country’s largest coal mine Friday, after Singapore’s Nava Bharat took over majority shares and invested $750 million (525 million euros) at the once defunct state entity.
Nava Bharat, a Singapore subsidiary of India’s Nava Bharat Ventures, has a 65 percent stake in Maamba Collieries, with Zambia’s government owning 25 percent through its Zambia Copper Mines Investment Holdings.
