Chinese mining firm, Jinchuan Group, plans to invest about 26.6 million U.S. dollars in exploration works in Zambia, a company official said on Monday.

The Chinese firm, which owns 85 percent shares in Chibuluma Mine Plc through its South African-based firm, Metorex, says it was looking for joint ventures with local firms to carry out exploration works.

"Our current ore body will finish by 2020 and if we don't do anything now, we will have to close. That is why we have embarked on exploration activities. We are also interested in strategic partnerships. So if there is any investor who has a license but has no money they should get in touch," said Jack Sikamo, the company's general manager.

The company, which produced 18,000 tons of copper last year, has invested a lot in mechanizing its operations and the official said production was earmarked to reach 19,000 tons.

The company spent about 12.7 million dollars in exploration works between 2010 and 2013, Sikamo added.