The Sub-Saharan Africa insights for Analysis for Economics and Country Risk has predicted an increase in the global market Copper demand from 2021 to 2035.
The organisation’s Country Risk Head Thea Fourie says her organizations’ assessment has shown that the Copper demand will crease from 8 million to 20 million tonnes by the year 2035.
And the Global Market Intelligence Analysis Centre revealed that China will continue to be the major consumer of copper due to anticipated demand for electric Car battery manufacturing and investments into green energy.
Speaking during the 10th Zambia International Mining and Energy Conference on Wednesday, when she made a presentation on ‘How Zambia can increase Copper production from 800, 000 to three million metric tonnes per annum over the next decade’ Ms. Fourie said Zambia has a greater opportunity to grow its mining industry.
“Zambia has greater opportunity to grow the mining industry and achieving general economic growth especially with the existing resolve by the current administration to increase copper production to 3 million metric tonnes per annum in the next 10 years,” Ms. Fourie
said.
The Head of Sub-Saharan Africa insights for Analysis for Economics and Country Risk, however warned that failure to make investment into copper mining may put copper deficit at around 10 million metric tonnes.
If the investment environment changes, the copper deficit can be reduced to 2 million metric tons during the same period of 2021 to 2035 she argued.
And Ministry of Mines Permanent Secretary Mooya Lumamba says about 500 mining licenses have been frozen by the ministry of mines at the department of Cadaster following an audit aimed at ensuring proper and corrupt free issuance of mining licenses.
The audit established that the ministry had about 100 expired mining licenses in its system which has since being cleared up to pave way for new applications to ensure the attainment of the set strategies towards the attainment of the projected increase in copper production in the country.
“Currently, Government is not accepting applications for mining licenses but effective 21st November 2022, the cadaster Department will be opened for licence applications, during the audit, we also found that some companies had about 80 inactive mining licenses which have since been frozen and the owners are now writing to us,” Mr. Lubamba said during the same meeting.
And Director of Geological survey at the Ministry of Mines Gerald Mwila says the Ministry is financially constrained to conduct a 100 per cent geological mapping which currently stands at 54 per cent mapping.
Mr. Mwila told the meeting that the ministry was however targeting minerals such as cobalt and uranium among others.
Earlier, Konkola Copper Mines head of Copper Production Obino Kalela revealed that Copper production from the mine has declined from 200, 000 to 100, 000 metric tonnes per annum.
Attributing the drop to lack of re-capitalization at the mine, Mr. Kalela called for financial injection in the mine if it is to massively contribute to the projected Copper production increase.
Meanwhile, oil Marketing Companies ( OMCs) operating in Zambia will have to bring in approximately 1.2 billion litres of fuel to support the mining industry to attain the projected increase in copper production of about 3 million metric tonnes per annum.
Head of Lubricants for Africa Puma Energy Stanley Chipeta says currently the mines consume about 400 million litres of fuel per annum.
Speaking during the meeting, Mr.. Chipeta however, noted that there is need to resolve issues around storage and transportation of fuel.
I wish people would talk about something else instead of this copper from which we don’t benefit.
No, no Deja Vu you can do better than kutakata. Don’t let your frustration get a good part of you. We all need to do our homework, nobodywill do it for us, We need to overcome laziness, idleness, indolence, slothfulness, shiftlessness, inactivity, inertia, sluggishness, lethargy, languor, slowness, heaviness (ukuefinya), dullness, remissness, negligence, laxity.
Why should somebody travel from Senegal, China, India… to exploit our minerals and within a short space of time become millionaire or billionaire at our expense.
Increased copper production to 3 million tonnes per year, though not achievable, is no solution for achieving general economic growth. Zambia will achieve economic growth, even from 1 million tonnes per year, by being a major consumer of its own copper. Zambia should learn to pay itself first.
For as long as we do not own any mines and have give tax holidays, we will just be watching copper leaving the country. The benefits we will get is pollution and large holes in the ground. But the privatization chief will benefit alone as usual.
You won’t see the benefits of that. Remember you have a sellout in power now who worships westerners. He has given them tax holidays at the Zambian people expense. Very dirty president. Corrupt
Its not our copper……since when?
1.2billion litres of fuel???? Please do not alert and confuse us. This is a lot of fuel. Hope you know what you are talking about Mr. Chipeta
The copper is theirs and their friends…….For Zambians its the black mountain chabe.
And the iniquitous politicians are busy giving tax incentives to mining companies that make millions of dollars in profits in Zambia. But they are reducing Fertilizer input support to their employers (the electorate) unbelievable. Very very sad indeed we have sell outs as heads of state on Africa in general and zambia in particular. We are still grappling with Panafon in the hospitals and clinics built by PF regime. At least this Hovt found structures they just need to now fulfil the promises or was it just lies and lies??? And these highly craft politicians are busy paying back what they got as support by using the tax that the country should have been receiving.