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Zambia: High price of copper on International market will enable mining firms to increase production.

Minister of Mines and Minerals Development Hon Richard Musukwa says the high price of copper on International market will enable mining firms to increase production.

Hon Musukwa says the price of copper on International market continue to increase which will give morale to the players in the mining sector.

He says this is good because once production increases the country will be able to generate enough revenue.
Hon Musukwa told Smart Eagles that there has been an increase in the production of electric vehicles which rely on copper, this is why the price has continued going up.

Hon Musukwa says the more advanced the technology becomes the more copper the industry will require.

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

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

Fellow countrymen and women, you are aware that the more we export the more foreign exchange we shall earn as a country which will be an advantage to our economy,”.

He says the prospect for the mining sector looks positive following what is prevailing on in the international market.

CREDIT: Lusaka Times

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