The Zambia Chamber of Mines suggested that this year’s copper production in the country was likely to fall by enormous 100, 000 tons as a result of the current tax regime.
According to the body’s statement, Zambia will only make 750, 000 tons of copper in 2019, while it managed to manufacture 860, 000 tons in the previous year.
If such prediction becomes the reality, Africa’s second-largest producer of the red metal could be excluded from the global top ten copper producers list.
“This is a distant continental second behind the Democratic Republic of Congo who trailed our volumes for 75 years until 2013 and now forecast above 1, 200 million tons of production in 2019. Meanwhile, it is likely that our own industry will drop-off the global top ten copper producers list,” Sokwani Chilembo, the body’s chief executive officer, advised.
The Zambia Chamber of Mines has asked all of the industry stakeholders to enhance mining capabilities in the Northern Province, while not dwelling on the copper extraction only.