Zambia remains a fast growing refined copper producer
Zambia remains one of the fastest-growing refined copper producers in the world, backed by strong domestic smelting capacity, rising mining output and ongoing government support, says BMI Research.
Zambia will remain a regional leader and an important global player in refined copper production over the coming years, it adds.
Unlike other markets in the region, most copper mined in Zambia is refined locally before being exported. With an estimated output of 58 200 t of refined copper this year, Zambia’s downstream copper production is the largest in Africa.
“Our forecast for Zambian copper mine output to witness considerable growth this year will feed into downstream services, further supporting short-term refined production. Our outlook for Zambia's mining sector in 2018 remains positive, as copper prices continue to rise and the country's electricity supplies improves,” BMI says.
While copper prices have suffered a decline in recent weeks, driven by heightening trade war tensions, BMI maintains its bullish copper price forecast of $7 000/t for this year. It further expects a persistent global undersupply to keep prices on an upward trajectory.
In the longer term, government support for ongoing economic diversification through the development of a value-added downstream copper industry, will provide further tailwinds to refined production in the country.
As part of Zambia's seventh National Development Plan for 2017 to 2021 and Vision 2030, the government will aim to promote local and foreign participation higher up the value chain through the manufacturing of finished copper goods for use in the electrical, automotive, plumbing and aquaculture industries, besides others.
“As a result, we expect the downstream copper industry's share of domestic gross domestic product to gradually increase over the coming years, while the contribution of raw mining to the total economy declines.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation