CHAMBER OF MINES ASSESSMENT CONCLUDES THAT ZAMBIA CAN ONLY ATTAIN A 2 MILLION AND NOT THE PROJECTED 3 MILLION TONS ANNUAL COPPER TURNOVER BY 2030
By Micheal Kaluba
An assessment by the Zambia Chamber of Mines has concluded that the country can only attain a 2 Million tons annual copper turnover by 2030 and not the 3 Million mark envisaged by government.
According to Chamber Chief Executive Officer Sokwani Chilembo, consensus among the mining firms is that after managing a 2 Million tons copper production figure by 2030, Zambia can then plan to achieve the extra Million to reach 3 Million annual turn-over within the following decade.
And Mr. Chilembo says continued operational challenges at various mines have also continued to keep copper production in the first quarter of 2022 slightly lower than last year.
As of 15 February 2022, Zambia’s copper production was down 4 percent, compared to the same period last year with figures for the entire first quarter expected to be announced by 15 April 2022.
He adds that with this first quarter immediately after the initiation of the deductibility of mineral royalty, mining firms are still adjusting their capital expenditure plans, assessing what postponed long term works can be actualized and re-strategizing on their development plans.
PHOENIX NEWS
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