Copper production drops

Copper production drops

 

Zambia’s copper production dropped 4 percent to 393,419 tonnes in the first six months of the year, ministry of mines data showed on Thursday.

Mines Permanent Secretary Paul Chanda attributed the decline to challenges such as declining ore grades.

Production for the first six months of 2019 fell to 393,419 tonnes from 410,919 tonnes in the same period last year.

Zambia’s Chamber of Mines said in May that 2019 output in Africa’s second-largest copper producer could be as much as 100,000 tonnes lower than last year because of changes to mining taxes.

The country’s new finance minister Bwalya Ng’andu on Wednesday said he would soon give a clear position on replacement of Zambia’s value-added tax with a non-refundable sales tax.

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