(Yicai Global) July 4 -- Chinese mining contractor JCHX Mining Management has secured a contract worth USD116 million to operate parts of Zambia’s Lubambe Copper Mine for the next three years and seven months, the Chinese mining contractor said yesterday.

JCHX’s Zambian unit will be responsible for extracting copper from the south flank of the underground mine, which is located in the country’s mineral-rich Copperbelt province, from June 1 to June 30, 2026, the Beijing-based company said yesterday, citing the deal signed with mine owner Lubambe Copper Mine. No further details were given.

JCHX undertook more than 30 large mine construction and mining operation projects in China and abroad last year, according to the company’s 2022 annual report.

The news failed to boost JCHX’s share price [SHA:603979], which closed up 0.1 percent at CNY30.95 (USD4.30) today.

Editor: Kim Taylor