China Backs $1.24 Billion Zambia-Tanzania Rail Upgrade for Copper Exports [Yahoo! Finance]
COSCO SHP HLDG UNSP/ADR (CICOY)
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Source: Yahoo! Finance
CMOC Group Ltd. ( CMCLY ) and Zijin Mining Group Co. ( ZIJMF ) are partnering with China Civil Engineering Construction Corp. to upgrade the 1,860-kilometer Tazara railway linking Zambia's copper belt to Tanzania's Dar es Salaam port, in a project valued at $1.24 billion. CCECC will hold an 80% stake in the joint venture, while smaller 5% stakes are allocated to participants including Jiayou International Logistics Co., alongside units of the miners and COSCO Shipping Holdings Co.. The structure suggests China is not only financing infrastructure but also positioning itself to operate and control a key export route for critical minerals. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Is CMCLY fairly valued? Test your thesis with our free DCF calculator. The timing comes as the US is trying to reshape access to African resources. Washington recently reached a minerals partnership with the Democratic Republic of Congo that gives American companies preferential access t
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