https://www.engineeringnews.co.za
Africa|Copper|Gold|Lifting|Mining|Resources|Operations
Africa|Copper|Gold|Lifting|Mining|Resources|Operations
africa|copper|gold|lifting|mining|resources|operations

Zambia's copper output may rise to one-million tons by 2026 as mines expand

Copper cathode produced in Zambia

Photo by Bloomberg

5th April 2024

By: Reuters

  

Font size: - +

Zambia's copper output could rise to about one-million tons by 2026, boosted by investment in expanding production at mines including those owned by First Quantum Minerals, Finance Minister Situmbeko Musokotwane said on Friday.

Production of copper, key to Zambia's economic growth, has been gradually declining in Africa's second-largest producer of the metal even as the government targets lifting output to about three-million tons within the decade.

Copper output slumped to 698 000 tons in 2023 from 763 000 tons the previous year, data from the Zambia Chamber of Mines showed.

Production could also get a boost from Mopani Copper Mines, which recently secured a new investor, and the revival of Konkola Copper Mines (KCM) after the state resolved an ownership dispute with Indian miner Vedanta Resources.

"The two mining giants (Mopani and KCM) were out of the equation, now they are back," Musokotwane said on Lusaka-based radio station Radio Phoenix.

Ongoing investments in expanding output at First Quantum's Kansanshi mine are also expected to support the rise in metals output, Musokotwane said.

Canadian rival Barrick Gold said last year it was spending about $2-billion to drive up output at its Lumwana mine in Zambia to about 240,000 tons of copper by 2028.

The United Arab Emirates' International Resources Holding (IRH) pledged to invest $1.1-billion to expand output at Mopani mines after buying a 51% stake in the copper assets previously owned by Glencore.

Zambia is also hoping that fresh investment helps increase mining activities at KCM after operations were nearly paralyzed following an ownership dispute with Vedanta that had dragged on since 2019, when the then government attempted to seize the assets.

"So by end of 2025 to 2026, we will be producing more than a million tons of copper," the finance minister said.

Edited by Reuters

Comments

Showroom

Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.071 0.129s - 160pq - 2rq
Subscribe Now