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Zambia’s copper output will rise by 5.5% to 750 000 t this year and output is expected to double to 1.5-million tonnes in 2017, Mines Minister Christopher Yaluma said. Copper production in Africa’s second-biggest producer of the metal was at 711 515 t in 2015. “It has to do with mining companies trying to optimise their production.
We will also maintain consistent mining policies,” Yaluma told journalists on the sidelines of a mining conference. Zambia’s frenzied royalty tax changes last year caused concern in the mining sector and prompted firms to suspended major capital investment.
The cabinet in February approved a new royalty system that varies depending on the copper price as the country seeks to keep struggling mines open and limit job losses. Mining companies operating in Zambia including Vedanta Resources and Glencore cut thousands of jobs and closed copper shafts as prices fell after slower growth by top consumer China.
