LUSAKA — Zambia Railways will seek at least $350m from the government to boost copper shipped by train 20-fold in the Southern African nation, host to mines run by Glencore and Vale.The rail company would ask the government for more than a third of the $1bn Zambia raised in a Eurobond sale last month when it met with officials in the first week of June, CEO Muyenga Atanga said in an interview in Johannesburg. Most of the money would be used to increase the copper ore, concentrate and cathode hauled to 240,000 tonnes a month from 10,000 tonnes.Mr Atanga said the increase would happen by adding to capacity between mines, smelters and refineries, and by extending lines to ports.Vedanta Resources’s Konkola Copper Mines unit has begun moving its copper onto rail, while Barrick Gold and African Rainbow Minerals also operate in the land-locked nation.Proceeds from the $1bn Eurobond maturing in 2024 would go towards the railways, roads and energy infrastructure, secretary to the Treasury Fr...
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