Economy

‘TAKE ADVANTAGE OF IMPROVED COPPER PRICES’

By IRVIN MUYUMBWA

AN economist, Mr Mutisunge Zulu has recommended the need to upscale mining production capacity to take advantage of the rise in copper prices and demand to get more from proceeds in tax.

Mr Zulu said meeting the one million metric tons production capacity given the price would allow the country get more in proceeds from mines who pay tax in dollars.

He said with an increase in the influx of tax proceeds, the Bank of Zambia would have more dollars which would change the exchange rate as its stability is dependent on availability of the dollar.

Mr Zulu said yesterday that Zambia’s economic recovery is tied to copper whose price on the international market is projected to increase to about $20, 000 per metric ton in the next decade which is a chance to correct anomalies the country has.

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