Zambian President Sees Lobito Rail as Rare Opportunity (Correct)

Zambian President Hakainde Hichilema said a US-backed project to connect Zambia’s copper mines to an Angolan port offers the nation a “once-in-a-lifetime” opportunity.

The project will link mining operations that companies including Barrick Gold Corp. and First Quantum Minerals Ltd. own to the Atlantic Ocean port of Lobito by building new track in Zambia and connecting it to an existing railway in Angola. The US is supporting the refurbishment of the Angolan line through a $250 million loan — subject to due diligence — that the International Development Finance Corp. announced last year.

The Lobito corridor is central to the ...