Zambia Says Preliminary Copper Output For 2010 About 819,159 Metric Tons
By Anthony Mukwita - Jan 24, 2011 4:03 AM PT
bloomberg.com
Copper output in Zambia, Africa’s biggest producer of the metal, jumped 17 percent in 2010, beating government forecasts, said Kanguya Mayondi, head of public relations at the Lusaka-based central bank.
The preliminary estimate showed production climbed to 819,159 metric tons compared with 697,700 tons in 2009, Mayondi said in an e-mailed response to questions on Jan. 21.
The increase is “is very impressive by any standard,” Mayondi said. Final production data will be released by the government at a later date.
Output beats a government estimate of about 720,000 tons for last year and is the highest recorded by the southern African country. Zambia will probably produce more than 740,000 tons in 2011, Finance and National Planning Minister Situmbeko Musokotwane said on Jan. 8. Copper production declined steadily from the early 1970s to about 250,000 tons in 1999 before rebounding on new investment.
About 70 percent of Zambia’s foreign currency comes from copper and the state is now also seeking investors to look for gold, diamonds, silver and manganese.
Vancouver-based First Quantum Minerals Ltd. will tomorrow announce details of a planned new mine in Zambia’s Northwestern Province near the border with Angola, Mines and Minerals Minister Maxwell Mwale said by phone from Lusaka.
To contact the reporter on this story: Anthony Mukwita at amukwita1@bloomberg.net
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net |
