ZAMBIAN COPPER OUTPUT PROJECTED TO RISE TO 850,000 TONNES IN 2017

LUSAKA, Zambian Minister of Mines Christopher Yaluma has projected that Zambia’s copper production will rise to around 850,000 tonnes this year, up from 774,000 tonnes in 2016.

Yaluma said Tuesday that the projected increase was premised on the government’s prudent steps to create a favourable investment environment in the mining sector.

Speaking when he officially opened the 2017 Zambia Mining Investment Forum in London, the Minister indicated that Zambia’s revised Mines and Minerals Development Act of 2015 demonstrated the government’s commitment to principles of transparency and accountability in the mining sector.

He reiterated that the government was keen to ensure a mutually beneficial situation in sector and noted that Zambia still had vast investment opportunities in mining in view of its large deposits of other minerals apart from copper.

In his keynote address, Tom Albanese, the chief executive officer of global diversified metals and mining company Vedanta Resources plc, told the forum that copper production for the company in Zambia was expected to increase to 400,000 tonnes per year in the next three years.

Albanese also noted that Zambia had a grounded history of mining, especially in copper, backed by a strong institutional framework and knowledge.

He appealed for the creation of new industrial infrastructure around the mining sector, which could provide local resourcing options for mining houses, at the same time creating stability for communities on the copper belt.

Meanwhile, ZCCM-IH Chief Executive Officer Dr Pius Kasolo disclosed that the mining company, which is majority owned by the government of Zambia. was looking to diversify its investment portfolio, to include energy and real estate to help hedge against turbulences in the mining sector, which are predominantly externally facilitated.

Source: NAM NEWS NETWORK

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