The Small Scale Miners Association of Zambia has advised large scale mining players to take advantage of the attractive prices of copper on the international market by increasing production.
Speaking in an interview with ZANIS, association president, Kunda Chani said the current price of the copper on the international market is the highest since May 2012.
Mr. Kunda said the spring of electric vehicles has contributed to the adjustment of copper prices, hence the need for giant copper producing firms to increase production in order for them to benefit from rising copper prices.
He added that it is surprising that as the demand for the commodity is going up, copper production has remained low.
ZANIS reports that Mr. Kunda has since appealed to members of his association to focus on copper production stating that the current copper prices on the market are attractive.
“We are excited to see that copper prices have kept increasing on the international market. This should give our giant copper producing companies the impetus to increase production so that we benefit as a country,” he said.
Mr. Kunda said key mining players should actively increase their production, urging his members to also participate in the production of copper ore.
Great news. Can suppliers and all zambian based copper businesses take advantage. If not we will let foreigners fill the gap. Where there is opportunity to don’t sleep.
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The Small Scale Miners Association of Zambia needs to understand how the commodities market works before misleading their members. Just because the market is experiencing a price rally does not mean the producers will benefit directly.
Copper is one of the commodities in the metals that has seen a come back from the lowest points of trade in the last 9 months Its in the minds of hedgers and position takers Its has projected to register increased demand given the infrastructure spend in the US and post COVID 19 consumption in China The price of copper is stable and volatility is on the decline since march 2020 in the range of 20-25%