On March 12, 2012 in Zambia, visiting President of CNMC Mr. Luo Tao attended the reception held by Vice-president of Zambia Dr. Guy Scott. Ambassador of China to Zambia Zhou Yuxiao, Commercial counselor Chai Zhijing, Vice president of CNMC Tao Xinghu, Director of advisory committee Zou Qiao, together with Minister of Labor, General Secretary of PF Party, Minister of Mining and Mineral Development, and Provincial Minister of Copper Belt also attended the reception.

One month ago, the investment projects of China Nonferrous Metal Mining (Group) Co., Ltd. (hereinafter referred to as “CNMC”) in Zambia suffered a two-week illegal strike due to labor disputes. Today, Tao Xinghu,
vice-president of CNMC, expressed to the journalist with Caijing that this event will not impose impact on their investment in Zambia. On the contrary, CNMC has decided to make additional investments of USD $ 2 billion in the next five years, in the hope to form the largest Chinese-funded nonferrous mineral resources base overseas.

Our correspondent was advised by China Nonferrous Metal Mining (Group) Co., Ltd* (hereinafter abbreviated as ‘‘CNMC’’) on 11th that CNMC intends to invest approximately US$2 billion in Zambia during 2011 to 2015, equivalent to the total investment ever made by the company in that country over the past 12 years.