[miningmx.com] — COPPER output in Zambia, Africa’s top producer of the metal, will rise to 2 million tonnes by 2015 from around 900,000 tonnes this year as new mines open and others are expanded, the country’s finance minister said on Saturday.
Situmbeko Musokotwane told Reuters new mines and expansion projects by Canada’s First Quantum Minerals, Brazil’s Vale, Equinox, London-listed Vedanta and Glencore International AG would boost copper production.
“We are opening new mines and expanding others so in all, in the next five years, we will be close to 2 million tonnes,” Musokotwane said in an interview.
Musokotwane said copper production was expected to rise to the targeted 1 million tonnes by 2012.
“There are new mines still to open and that should help raise production,” he said.
First Quantum on Friday launched the start of construction of a $1bn copper mine in north-western Zambia, which is due to start operations in 2014 with peak production estimated at 300,000 tonnes.
Vedanta’s Konkola Copper Mines (KCM) plans to invest $1bn in the next three to four years on expansion and upgrades in a bid to become a major global copper producer, its chief executive said in December last year.
Musokotwane said the government did not intend changing current mining policies.
“We will maintain the existing policies in order to continue attracting investors”.
