Mines Minister Christopher Yaluma has projected that Zambia’s copper production will be around 850,000 tonnes by the end of this year.
This is up from the current 7-hundred and 74-thousand tonnes at the end of 2016.
Mr. Yaluma says the increase is premised on government’s prudent steps to creating a favourable investment environment in the mining sector.
The Minister was speaking today when he officially opened the 2017 Zambia Mining Investment Forum, in London.
Mr. Yaluma has further indicated that the revised Mines and Minerals Development Act of 2015 demonstrates government’s commitment to principles of transparency and accountability in the mining sector.
He has reiterated that government is keen to ensure a mutual beneficial situation in the mines.
Mr. Yaluma added Zambia still has lots of investment opportunities in the mining sector, as it has large deposits of other minerals.
And in his key note speech, Tom Albanese told the gathering that copper production for the company is expected to increase to 4-hundred thousand tonnes per year, in the next 3 years.
Mr. Albanese also noted that Zambia has a grounded history of mining, especially in copper, backed by strong institutional frameworks and knowledge.
He appealed for the creation of new industrial infrastructure around the mining sector, which will provide local resourcing options for mining houses, at the same time create stability for communities on the Copper belt.
Meanwhile, ZCCM-IH Chief Executive Officer PIUS has disclosed that ZCCM-IH is looking to diversify its investment portfolio, to include energy and real estate.
Dr. Kasolo has explained that this will help hedge the company against turbulences in the mining sector, which are predominantly externally facilitated.
BUT then why sell our stake in mining to foreigners if production means increased sales revenue? It either you and Lungu are really a set of looting thugs or you are basically insane!
This dunder head of a minister…he is so dull i wouldnt waste 3 mins of my life reading this article.
But you would waste your time writing a written response to the said article!
Nope ..its in response to the utterly dull Christopher Yaluma, when you hear him speak you wont be surprised as to why Mining Executives run circles around him!!
It would be beneficial to know how that increase in production will benefit ordinary Zambians
@3 Chimbala, That is WHAT WE ARE ALL LOOKING FOR!! So WHAT IF COPPER PRODUCTION INCREASES and POVERTY INCREASES PROPORTIONALLY INSTEAD OF VICE VERSA??