Zambia’s Copper Production Seen Falling to 14-Year Low
- Output drop has hit royalty collections and economic growth
- Government plans to boost output to 3 million tons by 2031
Copper plates on wagons ready for shipping at the Mufulira refinery in Mufulira, Zambia.
Photographer: Zinyange Auntony/BloombergThis article is for subscribers only.
Zambia’s copper output will fall by more than 10% this year to the lowest in 14 years in what would be a significant blow to the southern African country’s revenue and economic growth.
Copper production, which accounts for more than 70% of export earnings, will plunge to 682,431 tons, the Ministry of Finance & National Planning said in a report this week. That would be the lowest level since 2009, and marks the third straight year of declining output after peaking in 2020, even as prices remain elevated for the metal.