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Zambia Looking To Triple Copper Output In Next Decade

Channels Television  
Updated May 9, 2022
The President of Zambia, Hakainde Hichilema, speaks at the Mining Indaba in Cape Town on May 9, 2022. – The Mining Indaba is the foremost event for investing in African mining, in the world. (Photo by RODGER BOSCH / AFP)

 

Copper-rich Zambia plans to more than triple production of the mineral to three million tonnes a year within a decade, President Hakainde Hichilema said on Monday.

Hichilema took office last year with ambitious plans to review mining policies and turn around the economy of the Africa’s second largest copper producer.

He told an annual Africa mining conference in South Africa that his country aimed to respond to the increasing demand for copper due to the use metal’s use in many green energy technologies. s.

“We are determined to respond to the high demand for copper and have an audacious goal to take its annual production levels from the current 830,000 to three million metric tonnes in the next ten years,” he said.

“This is indeed ambitious, but we are confident we can achieve it,” reiterating his government’s investor-friendly policies.

Mining production in the southern African country suffered in recent years due to the hostile relationship between the industry and the previous government.

Europe relies on Russia for copper and copper prices struck record highs on supply fears following Russia’s invasion of Ukraine.