R/€ = 15.82 Change: 0.05
R/$ = 13.26 Change: 0.03
Au 1297.29 $/oz Change: 2.55
Pt 933.00 $/oz Change: 0.00
 
 
R/€ = 15.82 Change: 0.05
R/$ = 13.26 Change: 0.03
Au 1297.29 $/oz Change: 2.55
Pt 933.00 $/oz Change: 0.00
 
 
BACK

Zambia copper output to ease slightly this year

11th September 2017 BY: Reuters

LUSAKA – Zambia's copper production is expected to inch lower to 753 992 t this year from 774 290 t in 2016 mainly due to lower output from Konkola Copper Mines, a subsidiary of London-listed Vedanta Resource, the mines ministry said on Monday.

Production at Konkola Copper Mines is expected to decline by 40% this year, Ministry of Mines Permanent Secretary Paul Chanda told reporters.Production at Konkola Copper Mines will fall by 40% while output at Lumwana Mine, owned by Barrick Gold, should decline by 15%, Chanda added.

Advertisement

"Konkola Copper Mines appear to be more experienced in processing than mining and as for Lumwana it is because of declining ore grades," Chanda told Reuters.

The government had said in June that copper production was expected to rise to 850 000 t in 2017 owing to expansion at existing mines and ongoing greenfield projects.

Advertisement

The Zambia Chamber of Mines, an industry body, said output would depend on power supply, infrastructure and stability of the fiscal and regulatory regime.

"Resolution of the pricing and provision of power remain paramount to the immediate future of mining in Zambia," Chamber of Mines President Nathan Chishimba told Reuters on Monday.

Glencore's Zambian unit Mopani Copper Mines will pay increased electricity prices caused by the removal of state energy subsidies, the mines minister said. 

EDITED BY: Reuters
EMAIL THIS ARTICLE SAVE THIS ARTICLE