ZAMBIA’S COPPER PRODUCTION FOR FIRST QUARTER OF 2022 DROPS BY 8 PERCENT

By Michael Kaluba 

Zambia’s copper production figures have continued to decline with the country recording around 8 percent drop for the first quarter of 2022 as compared to the same period last year. 

According the Zambia Chamber of Mines, the country recorded a total production of 176,742 tonnes of copper in the first quarter of 2022 down from 192,151 produced last year during the same period under review, denoting a slump of a total of 15,409 tons of copper. 

Zambia also recorded declined annual copper production in 2021 with figures dropping to a total of 800,696 tons from 837,996 tonnes the year before at a time the new dawn administration envisages an output of 1.3

million tonnes this year alone and up to 3 million tonnes annually within a decade. 

Chamber of Mines Chief Executive Officer Sokwani Chilembo attributes this continued decline in copper production figures to a lack of turnaround at distressed asserts and delayed capital expenditure into the sector despite some mines like Chibuluma coming back online and the Mimbula project. 

Mining companies in Zambia previously complained about an alleged “double taxation”, with mineral royalty payments not treated as a deductible expense when calculating corporate income tax since 2019, a tax regime that has since been reversed by the new dawn administration in a bid to improve production figures, investments and productivity in the mining sector. 

PHOENIX NEWS 

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