Features

The future is still mining

MINING in Zambia history and future indicates that on a small scale, the mining activities by the natives were widespread across the Copperbelt region and other places

FRANCIS LUNGU, Lusaka
MINING has been key to Zambia’s economic fortunes for decades and tax issues around the sector always attract attention among stakeholders and would-be investors.
Despite a push to diversify the economy and move it away from being heavily dependent on copper, the sector has resiliently remained at the pinnacle of the country’s economic development.
Zambia produced 882,061 metric tonnes of copper in 2020, up 10.8 percent from 796,430 tonnes produced in 2019, according to Mining.Com.
In the latest revised targets, the country has moved from the one million metric tonnes annual production to an ambitious three million metric tonnes in the next decade, going by Minister of Finance Situmbeko Musokotwane’s 2022 national budget presentation of October 29, 2021.
The global consensus is that demand for copper will remain strong over the coming decade, primarily because of the metal’s utilisation in new green technologies such as electric vehicles.
A worldwide shift to electric cars, which use much more copper than cars using fossil fuels, is expected to boost production of the metal.
According to global industry experts, an additional seven million metric tonnes of copper will be required by 2030 to keep pace with demand.
Of course this is good news for copper producers like Zambia, ranked second in Africa after neighbouring Democratic Republic of Congo (DRC).
Copper was discovered in Zambia in the late 19th century, and in the 1950s the CLICK TO READ MORE


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