GOLD 1565.92 $/ozChange: 0.27
PLATINUM 1426.50 $/ozChange: 3.00
R/$ exchange 8.38Change: 0.02
R/€ exchange 10.49Change: 0.06
 
We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
         
close notification
powered by
Advanced Search
 
 
 
Home
 
Sector News
 
Base Metals
 
 
COPPER
Zambia Q1 copper, cobalt output up
 
21st April 2010
TEXT SIZE
Text Smaller Disabled Text Bigger
 

LUSAKA – First-quarter copper production in Zambia, Africa's largest producer, rose to 174 407 t from 170 948 t produced in the corresponding period last year, Zambia's central bank said on Wednesday.

Copper exports in the first quarter rose to 173 421 t versus 153 306 t exported in the same period last year, a statistics report from the Bank of Zambia showed.

"We should expect more copper with the start of production at the Konkola deep mining project, the resumption of output at Baluba mine and ramp up at Lumwana mine," said Mathias Mpande, a mining engineering senior lecturer at the University of Zambia.

"Zambia should reach 800 000 t of copper without much difficulty by the end of 2010 unless something unexpected happens," he said.

Zambia's total copper production in 2009 was slightly below 700 000 t.

The central bank said cobalt output in the three months to March 31 jumped to 1 921 t from 1 081 t last year, while exports of cobalt increased to 1 905 t from the 1 251 t exported during the first quarter of 2009.

"Cobalt production is increasing because Chambishi Metals has started producing again. The cobalt price is also rising and this is an incentive for cobalt producers to increase their output," said Mpande.

Copper mining is Zambia's economic lifeblood and the mines are a major employer in the country of 12-million people.

Foreign mining companies in Zambia include London-listed Vedanta Resources, Canada's First Quantum Minerals, Glencore International of Switzerland and Metorex of South Africa.

Edited by: Reuters

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.

Subscribe Now Login