China Non-Ferrous Metal Mining (Group) Co Ltd (CNMC), the State-owned mining firm, will speed up its overseas investment in the coming years.

In an interview with China Daily, CNMC President Luo Tao said it plans to spend more than US$800 million overseas from now until 2009.

On Tuesday CNMC and another Chinese firm, Yunnan Copper Industry Group Company, clinched a deal to build a 150,000-ton copper smelting plant in Zambia.

The planned facility in Chambishi, Zambia, will involve a US$220 million investment. CNMC will take a 60 per cent stake.

The copper plant will be put into operation at the end of 2008.

CNMC already runs a copper mine in Zambia and is the biggest Chinese investor in the copper-rich nation.

The new plant would bring CNMC's investment in Zambia to US$400 million, possibly making it the biggest foreign investor in the country, Luo said.

Countries such as France, Belgium and India have also invested in Zambia.

Luo said CNMC also plans to build a US$600-million nickel mineral project in Myanmar, which is awaiting approval from the Chinese Government.

He said Africa and Asia are CNMC's major investment targets, as is Australia.

The company has non-ferrous metals projects in countries such as Iran, the Democratic People's Republic of Korea, Cambodia, Kazakhstan, Malaysia, Mongolia and Laos.

"We believe the China-Africa Co-operation Forum will further boost ties between China and African nations, which will provide us with new business opportunities," Luo said.

CNMC will strive to become an influential global mining group in coming years with a focus on overseas non-ferrous metals development, he said.

CNMC, formed in 1983, is the first Chinese company to seek overseas non-ferrous metals development.

CNMC's acquired copper, nickel, cobalt, zinc and gold resources abroad have respectively reached 7 million tons, 1 million tons, 300,000 tons, 1.3 million tons and 100 tons.

"The countries where we have invested have rich non-ferrous metal resources and we have capital and technology which creates a win-win situation," Luo said.

"However, we not only invest in those countries but also help boost the local economy and contribute to local society," he said.

For example, CNMC has employed more than 2,100 people in Zambia at its existing copper mine.

Its new copper plant will create an additional 500 jobs when it begins operation in 2008.

Luo said its employees in Zambia have a reasonably good income and CNMC provides free healthcare for them and their spouses.

The company has also provided support to countries where it has invested in areas such as education, sport and postal services.

Luo said CNMC would refrain from causing environmental problems in foreign countries.

"We will use the world's most mature and environmentally friendly technologies in our overseas projects that meet international standards," he said.

Luo said China's non-ferrous metals industry, a basic materials sector, had a "rosy outlook" due to mounting demand for metals to boost China's rapid economic growth.

China's combined output of the main non-ferrous metals aluminium, copper, lead, zinc, nickel, stannum, mercury, magnesium, sponge, titanium and antimony jumped by 18.1 per cent to 16.3 million tons last year from 2004, according to industry data.