NOMSA NKANA, Lusaka
ZAMBIA’s mining sector is projected to experience a boom in the next five years due to an upswing of copper prices on the global market, says the Economic Intelligence Unit (EIU).
EIU said in a statement that this year to 2022 will be good years for the mining sector in Zambia with copper prices forecast to average US$300/lb, up from an average of US$275/lb last year.
“It is expected that most producers will make a profit. Increased output off the back of this price increase will cause real gross domestic product (GDP) to pick up from an estimated 3.6 percent from last year to an annual average of 4.4 percent in 2018 to 2022,” read the statement.
In addition to its direct impact on real economic output (mining only accounts for around 14 percent of GDP), the mineral production will also benefit the construction sector through higher investment in…http://epaper.daily-mail.co.zm/