The Chamber of Mines of Zambia has projected that Zambia’s copper output will climb by about 4 percent to a record this year as operators near a resolution with government over power prices.
Chamber of Mines President Nathan Chishimba said production will increase to about 800,000 metric tons.
That would be higher than the 770,600 tons mined last year, and exceed a previous record of about 790,000 tons in 2013.
The forecast is however less optimistic than a projection by Mines Minister Christopher Yaluma who sees output jumping to 850,000 tons.
Mr. Chishimba said negotiations over a proposed power-tariff increase for the mining industry that accounts for more than half of Zambia’s electricity consumption are “progressing well.”
Most mines in the country rejected an increase the government imposed in 2014, and again at the start of 2016, and talks have been ongoing.
“There could be one or two sticking points but I’m not sure if those will be show-stoppers,” Mr. Chishimba said. “I can confidently say that we hope to see resolution in the next few weeks.”
The Chamber of Mines has said in the past tariffs should be set according to the cost of producing power.
The Energy Regulation Board in April appointed U.K.-based Economic Consulting Associates to study this, with the report due 12 months from then.
So farkin what????! This only benefits the infestors!!!
…and the taxes and royalties they put into our coffers??? More output translates to more taxes, right???
As far as Zambians are concerned that makes no difference. We are just spectators in our own economy and you are busy informing the nation how foreign companies are going to rip off your resources. Laughable
We hope poverty will reduce by 4% in the same period.
our natural resources are being depleted for free, if we can wake up and close all the mines, everyone have a farm thus far much better.
So what? Make it a raise of 20% so what? 50 years from now our children will be asking what was in those empty holes..
With this rise Zambians will need additional investments. What’s the update on Sapir? Is there any news from the government?