Lusaka — Zambia’s copper output rose 12% in 2024, buoyed by a recovery in production at key mines as the government counts on the sector to drive economic growth.
Output reached roughly 820,670 tonnes, up from 732,580 tonnes the year before, mines minister Paul Kabuswe said on Wednesday.
Barrick Gold’s Lumwana mine ramped up output and Vedanta Resources’ Konkola Copper Mines (KCM) resumed activities.
Output also picked up at Mopani Copper Mines, which was recently bought by United Arab Emirates firm, International Resources Holding.
Kabuswe said production rose despite electricity shortages after a devastating drought that hit hydroelectric power generation.
Zambia is Africa’s second-largest copper producer after the DRC, and the government is trying to lift annual copper output to 3-million tonnes within about a decade.
Vedanta, backed by Indian billionaire Anil Agarwal, has said it plans to invest about $1.3bn to revive production at KCM, which nearly collapsed after an ownership battle with Zambian authorities.
Canadian miners Barrick and First Quantum Minerals are also boosting output at their mines in Zambia while KoBold Metals, backed by US investors, has said it plans a $2bn copper mine in the country.
Reuters
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