Metal Exports from Zambia up 10%

Metal earnings from Zambia rose 9% during last year compared to a year earlier, a report by the ministry of mines says.

An economic outlook by the ministry of finance says, exports of various metals, copper included, earned Zambia, Africa’s leading copper producer, 8.8 % raking in US$7 086.6 million compared to US$6 511.0 million recorded a year earlier.

The copper export earned last year was chiefly attributed to a rise in the production of the red metal. Copper export earnings, at US$6 941.3 million were 10.3

% higher than US$6 294.5 million realised in 2012, driven by higher export volumes. Copper export volumes at 981 340.59 metric tons were 11.3% higher than 882 095.09 metric tons recorded in 2012.

The realised average copper price, however, marginally declined to US$7 073.82 per ton from US$7 135.84 per ton in 2012 while cobalt export earnings declined by 32.9 % to US $145.3 million from US$216.5 million in 2012, due to both lower export volumes and realised prices.

Cobalt export volumes, at 6,146.29 Mt, were 26.4 % lower than 8 350.4 Mt in 2012. Similarly, the realised average price of cobalt, at US$23 635.55 per ton, was 2.8 % lower than US$24 325.85 per ton in 2012.

Metal export earnings increased by 8.8 % to US$7 086.6 million from US$6 511.0 million in 2012, following a rise in copper export earnings. Copper export earnings, at US$6 941.3 million were 10.3 % higher than US$6 294.5 million realised in 2012, driven by higher export volumes.

Copper export volumes at 981 340.59 Mt were 11.3% higher than 882 095.09 Mt in 2012. The realised average copper price, however, marginally declined to US$7 073.82 per from US$7 135.84 per ton in 2012.

The report adds that cobalt export earnings declined by 32.9% to US $145.3 million from US$216.5 million in 2012, due to both lower export volumes and realised prices. Cobalt export volumes, at 6 146.29 Mt, were 26.4% lower than 8,350.4 Mt in 2012. Similarly, the realised average price of cobalt, at US$23 635.55

per ton, was 2.8 % lower than US$24 325.85 per ton in 2012.

Output in the mining and quarrying sector increased by 5.9 % in 2013 compared to 2012. This was on account of an increase in mineral production at the major mines and the coming on stream of a new mine.

In an effort to improve compliance, Government continued to implement Statutory Instrument No.34 of 2012, which made it mandatory for mining rights holders to submit detailed annual reports and programmes of operation for the subsequent years.

The Sis, 33 and 55, were however revoked on 21 March to allow for consultations with various stakeholders, said finance minister Alexander Chikwanda.

Total Copper production marginally increased by 0.6 % to 790 007 Mt from 785 642 Mt in 2012.The outturn was attributed to 12.3% increase in copper output to783 468 Mt from 697 918 Mt in 2012 by large mines.

The coming on stream of Lubambe Mine which produced 22,135 Mt representing 22.7% and a significant increase in output at Kansanshi, Lumwana Mine, Mopani Copper Mine and China Non-Ferrous Mining Corporation (CNMC) contributed to the positive sector performance.

Gold output increased by 126 % to 4 984 Kg from 2 199.1 Kg in 2012. Coal production at Maamba Collieries also increased to 148 768 Mt from 121,024 Mt in 2012.

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