Business

Expert opens lid on copper price

TRUCKS with copper at the Zambia-Botswana Kazungula Border Post. PICTURE: EDDIE MWANALEZA

NKOMBO KACHEMBA, KALONDE NYATI
Kitwe, Lusaka
THE price of copper on the international market should not be used as a yardstick for measuring the performance of the mining sector in Zambia.
Mining expert Peter Tembo, who is a member of International Council of Mining and Metals (ICMM), said most mines in Zambia are interested in mining cobalt, which is more lucrative than copper.
Zambia is Africa’s second largest copper producer after the Democratic Republic of Congo.
Professor Tembo said mines such as Mopani, Konkola and Chambishi Metals deal in cobalt while those in North-Western Province are gold and uranium-producing mines.
He said in an interview in Kitwe yesterday that on the international market, Zambia is known as a cobalt-producing country because it exports the metal to other countries.
“As a mine, you have the price of copper which is roughly about US$6,500 per tonne and CLICK TO READ MORE



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