Business

Copper producers urged to increase output

By SILUMESI MALUMO

SMALL and large scale mining players should take advantage of the attractive prices of copper on the international market by increasing production, The Small Scale Miners Association of Zambia has advised.

Association president, Kunda Chani, said the current price of the copper of over $9,000 per tonne on the international market was the highest since May 2012.

Mr. Kunda said the spring of electric vehicles had contributed to the adjustment of copper prices, hence the need for giant copper producing firms as well as small miners to increase production in order for them to benefit from rising copper prices.

He said in an interview that it was surprising that as the demand for the commodity was going up, copper production had remained low.

Mr Kunda appealed to members of his association to focus on increasing copper production, stating that the current copper prices on the market were attractive.

“We are excited to see that copper prices have kept increasing on the international market. This should give our giant copper producing companies the impetus to increase production so that we benefit as a country,” he said.

Mr. Kunda said key mining players should actively increase their production, urging his members to also participate in the production of copper ore.

The association president said there was no need for the mining firms to be reluctant when they could benefit massively from soaring prices.

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