IFC invests $15 mln in Kiwara for Zambia exploration

JOHANNESBURG, July 2 (Reuters) - The World Bank's private sector arm said on Thursday it will invest up to $15 million in the equity of Kiwara Plc (KIWA.L), to help the mining exploration firm develop mineral deposits in Zambia.

Kiwara (KWRJ.J) will use the funds to finance copper and nickel exploration and feasibility studies in the northwest part of Africa's top copper producing country, the International Finance Corp (IFC) said in a statement.

The mining sector of the southern African country has been hit by the sharp fall in the price of copper due to the global economic downturn, but some production facilities that had shut down have resumed operations after a rise in prices. [nL2392924]

(Reporting by James Macharia, Editing by Peter Blackburn)