Mercuria wins rights to export over 255,000MT Copper Concentrate

By NATION REPORTOR

In a landmark move, global commodity trading giant Mercuria Energy Group has been awarded the right to export 255,357 metric tonnes of copper concentrate from Zambia through a joint venture with the state-owned Industrial Development Corporation (IDC).
The deal, approved under a special waiver by the Zambian government, exempts the cargo from the usual 10% export duty from June 28 to October 1, 2025.
The export waiver, granted to facilitate the initial phase of the IDC–Mercuria joint venture, is part of a broader effort to ensure Zambia secures better pricing and control in the international copper trade.
According to officials familiar with the agreement, the copper concentrate will be shipped directly to global smelters, bypassing local processing constraints and enabling the country to monetize its mineral stockpile amid rising global demand.
However, the deal has sparked controversy and concern over the lack of independent mineral assays and possible underreporting of valuable by-product metals contained in the concentrate.
Industry experts warn that copper concentrate often contains more than just copper. It may also include gold, cobalt, silver, and other trace minerals, the value of which can far exceed the declared copper content.
Without transparent and certified assay procedures at the point of export, there is growing fear that Zambia may be unknowingly forfeiting millions in undeclared mineral wealth.
“It is not enough to waive export duties and ship tonnes of concentrate abroad without verifying what is in it,” said one mining analyst based in Lusaka. “If gold or cobalt is present in those consignments and not declared, Zambia is being short-changed…again.”
The IDC has not disclosed the full terms of the profit-sharing model with Mercuria, nor whether third-party audits will be conducted to verify the shipments.
Civil society groups are calling for the government to publish independent assay reports, ensure ZRA oversight, and introduce legislation mandating full mineral disclosure for all concentrate exports.
The development comes at a time when Zambia is seeking to increase its stake in the global copper value chain. But for many observers, the Mercuria deal has reopened old wounds over opaque mineral trading.