Zambia Copper Output Up 12% Last Year
Zambia, Africa's second-largest copper producer, expects copper production to hit one million metric tons by the end of this year, up from 820,676 metric tons in 2024.
Minister of Finance and National Planning Situmbeko Musokotwane attributed the increase to the expansion of existing mines, the revival of old mines, and the establishment of new mines.
"Thereafter, production will rise year after year toward the target of three million tons," he said in a statement.
According to him, a total of six billion U.S. dollars is expected to be invested in the sector to ensure that the target of three million metric tons per year is achieved.
He said the increased production in the mining sector would create more jobs, business opportunities, foreign exchange and government revenue, leading to improved living standards.
Meanwhile, the minister said the 4 percent economic growth recorded in 2024, despite the negative effects of the drought, is an indication that the ongoing economic reforms are bearing positive fruits.
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