LUSAKA (Reuters) - Zambia's copper output rose 7.6 percent to 402,983 tonnes in November 2005 compared with output for the same month last year, the central bank said on Friday.
Bank of Zambia (BoZ) Governor Caleb Fundanga told journalists that rising copper output was mainly due to general improvement in small mining operations.
"There have been increased investments in both the old and new mines, which were boosted by higher export earnings following the persistent higher metals prices," Fundanga said.
Cobalt output in November was down 7.5 percent from the same month last year at 5,216 tonnes, the bank said, without providing any reason.
Zambia hopes to reach 550,000 tonnes of copper output in 2005 from 394,000 tonnes the previous year, although Fundanga did not indicate if this target was likely to be attained.
Zambia's copper sector has been hit by floods, workers strikers and fuel shortages, which forced some big mines to scale down production during the year.
Happy New Year to everyone. Zambia's currency, Kwacha, was probably the best in the world against the US$ in 2005. We could have made 35% just holding the currency. |
