EconomyHeadline News

High copper prices to spur copper production – minister

By SILUMESI MALUMO

THE high price of copper on the international market will encourage mining houses to increase production, Minister of Mines and Minerals Development Richard Musukwa has said.

Mr Musukwa said the price of copper on the international market had continued to increase which would give confidence to the players in the mining sector.

He said this was good because once production increased the country would be able to generate enough revenue.

He said in an interview that there had been an increase in the production of electric vehicles which rely on copper, this was why the price had continued going up.

Mr Musukwa said the more advanced the technology becomes the more copper the industry would require.

 “It is important that the players in the mining sector take advantage of what is prevailing on the international market,” Mr Musukwa said.

“This is the time mining houses should invest more so that they can increase their production for the country to start exporting more copper.

“The more we export the more foreign exchange we shall earn as a country which will be an advantage to our economy,” Mr Musukwa said.

He said the prospects for the mining sector looks positive following what was prevailing on the international market.

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker