BR100 Decreased By (-0.91%)
BR30 Decreased By (-1.47%)
KSE100 Decreased By (-0.78%)
KSE30 Decreased By (-0.75%)
AGHA 6.67 Decreased By ▼ -0.01 (-0.15%)
BECO 4.35 Decreased By ▼ -0.02 (-0.46%)
BML 56.17 Decreased By ▼ -1.15 (-2.01%)
BOP 30.12 Decreased By ▼ -0.23 (-0.76%)
CNERGY 12.98 Decreased By ▼ -0.14 (-1.07%)
CSIL 5.31 Decreased By ▼ -0.10 (-1.85%)
FCCL 51.65 Decreased By ▼ -1.14 (-2.16%)
FFL 14.49 Decreased By ▼ -0.23 (-1.56%)
FNEL 1.21 Increased By ▲ 0.09 (8.04%)
KEL 6.06 Decreased By ▼ -0.03 (-0.49%)
KOSM 5.84 Increased By ▲ 0.11 (1.92%)
LOTCHEM 26.17 Decreased By ▼ -0.29 (-1.1%)
MLCF 91.23 Decreased By ▼ -1.93 (-2.07%)
NBP 164.19 Decreased By ▼ -0.47 (-0.29%)
NCPL 53.18 Decreased By ▼ -2.48 (-4.46%)
NPL 59.12 Decreased By ▼ -2.04 (-3.34%)
OGDC 313.39 Decreased By ▼ -3.34 (-1.05%)
PACE 9.77 Decreased By ▼ -0.10 (-1.01%)
PAEL 35.24 Decreased By ▼ -0.39 (-1.09%)
PIBTL 14.71 Increased By ▲ 0.03 (0.2%)
PPL 221.36 Decreased By ▼ -5.55 (-2.45%)
PRL 91.22 Decreased By ▼ -1.80 (-1.94%)
PTC 59.19 Decreased By ▼ -1.07 (-1.78%)
SSGC 23.30 Decreased By ▼ -0.51 (-2.14%)
TBL 8.75 No Change ▼ 0.00 (0%)
TELE 7.61 Decreased By ▼ -0.19 (-2.44%)
TPL 22.03 Decreased By ▼ -0.32 (-1.43%)
TPLP 12.56 Decreased By ▼ -0.41 (-3.16%)
TREET 21.73 Decreased By ▼ -0.43 (-1.94%)
TRG 55.79 Decreased By ▼ -0.77 (-1.36%)
Markets

Zambia expects copper output to double next year

Published Updated

imageLUSAKA: Zambia's copper production will rise by 5.5 percent to 750,000 tonnes this year and output is expected to double to 1.5 million tonnes in 2017, Mines Minister Christopher Yaluma said on Thursday.

Copper production in Africa's second-biggest producer stood at 711,515 tonnes in 2015.

"It has to do with mining companies trying to optimise their production. We will also maintain consistent mining policies," Yaluma told journalists on the sidelines of a mining conference.

Zambia's frenzied royalty tax changes last year caused concern in the mining sector and prompted firms to suspended major capital investment.

The cabinet in February approved a new royalty system that varies depending on the copper price as the country seeks to keep struggling mines open and limit job losses.

Mining companies operating in Zambia including Vedanta Resources and Glencore cut thousands of jobs and closed copper shafts as prices fell after slower growth by top consumer China.

Copyright Reuters, 2016

Comments

Comments are closed for this article.