COPPER OUTPUT IN ZAMBIA WILL DOUBLE TO MORE THAN TWO MILLION TONNES BY 2015 FROM AROUND 900,000TONNES THIS YEAR, AS NEW MINES BEGIN PRODUCTION AND EXISTING MINING OPERATIONS ARE EXPANDED.
FINANCE AND NATIONAL PLANNING MINISTER DR SITUMBEKO MUSOKOTWANE SAID MINES AND EXPANSION PROJECTS BY CANADA'S FIRST QUANTUM MINERALS, BRAZIL'S VALE, CANADIAN-BASED EQUINOX MINERALS, LONDON-LISTED VEDANTA AND SWISS-BASED GLENCORE INTERNATIONAL AG WOULD BOOST COPPER PRODUCTION.
DR MUSOKOTWANE ADDED THAT COPPER PRODUCTION WAS EXPECTED TO RISE TO THE TARGETED ONE METRIC TONNES BY NEXT YEAR.
HE SAID THERE ARE NEW MINES STILL TO OPEN, AND THAT SHOULD HELP RAISE PRODUCTION.
HE SAID THERE ARE NEW MINES STILL TO OPEN, AND THAT SHOULD HELP RAISE PRODUCTION.
ON FRIDAY FIRST QUANTUM LAUNCHED THE START OF CONSTRUCTION OF A US$1 BILLION COPPER MINE IN NORTH-WESTERN ZAMBIA, WHICH IS DUE TO START OPERATIONS IN 2014 WITH PEAK PRODUCTION ESTIMATED AT 300,000TONNE PER ANNUM.
VEDANTA'S KONKOLA COPPER MINES PLANS TO INVEST US$1 BILLION IN THE NEXT THREE TO FOUR YEARS ON EXPANSION AND UPGRADES IN A BID TO BECOME A MAJOR GLOBAL COPPER PRODUCER, ITS CHIEF EXECUTIVE SAID IN DECEMBER LAST YEAR.
AND DR MUSOKOTWANE SAID GOVERNMENT DID NOT INTEND CHANGING CURRENT MINING POLICIES STRESSING THAT IT WILL MAINTAIN THE EXISTING POLICIES IN ORDER TO CONTINUE ATTRACTING INVESTORS.
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