<div id="readability-page-1"><div>Chinese mining, shipping and logistics companies are joining a $1.24 billion project to revamp a railway linking Zambia’s copper region to a port on the Indian ocean.Copper producers CMOC Group Ltd. and Zijin Mining Group Co. are teaming up with state-owned China Civil Engineering Construction Corp., or CCECC, to upgrade the 1,860-kilometer (1,156-mile) rail line that runs to Dar es Salaam in Tanzania.CCECC – which signed a deal with Zambia and Tanzania in September to rehabilitate the so-called Tazara railway – will retain an 80% interest in the joint venture undertaking the project, according to a statement on Wednesday from Jiayou International Logistics Co., one of four firms taking 5% stakes. The other three are units of Zijin, CMOC and COSCO Shipping Holdings Co., Jiayou said.The backing for the Chinese project comes as Washington tries to loosen Beijing’s grip on supply chains for critical minerals in Africa. The US concluded a bilateral minerals partnership with the Democratic Republic of Congo in December that grants American companies preferential access to some of the country’s abundant reserves of metals.The Tazara link — originally built with Beijing’s assistance under Mao Zedong in the 1970s — will compete with the Lobito Corridor, a rail project backed by the US and European Union. That railway connects the same copper-rich region of central Africa to an Angolan port on the west coast of the continent.CMOC and Zijin both have major mining operations in Congo, the world’s No. 2 copper producer and the biggest source of battery material cobalt. By contrast, western firms – particularly Canada-headquartered First Quantum Minerals Ltd. and Barrick Mining Corp. – account for most output in neighboring Zambia.Tanzania and Zambia granted CCECC a 30-year concession to operate the line. Once completed, the rehabilitated infrastructure will ease congestion on roads in Zambia and Congo, from where most mineral cargoes are currently trucked over long distances to African ports. The Chinese companies will invest in the Tazara project according to the size of their interests in the Dubai-registered joint venture entity, according to Jiayou, which will contribute $62.2 million. The partners will operate freight services on the line after renovating the railway and purchasing equipment including locomotives and containers, it said, adding that the project still needs to complete the approval and filing process with China’s government.The investments reflect a shift in China’s Belt and Road Initiative to increasingly partner with private companies to operate projects on .State-owned COSCO is China’s largest container line, while Jiayou is the majority owner of one of Zambia’s biggest trucking firms and is developing road concessions in the country. Zijin is also Jiayou’s second-biggest shareholder, with a 17.5% stake in the group.</div></div>

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Chinese mining and logistics firms are investing $1.24 billion to revamp the Tazara railway linking Zambia's copper region to Tanzania's port. CMOC Group and Zijin Mining are partnering with China Civil Engineering Construction Corp. (CCECC), which holds an 80% stake in the project. This initiative aims to enhance supply chains for critical minerals amid U.S. efforts to counter China's influence in Africa. The upgraded railway will alleviate road congestion for mineral transport and is part of China's Belt and Road Initiative, involving private sector collaboration.

Bloomberg

ZIJIN MINING

Guotai CSI Non-ferrous Metal ETF

CMOC

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

China Southern CSI SWS Non-Ferrous Metal ETF

Zijin Mining

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

Chinese Copper Miners Join $1.2 Billion African Railway Revamp