Zambia’s copper output could rise to about 1 million tons by 2026, boosted by investment in expanding production at mines including those owned by First Quantum Minerals, Finance Minister Situmbeko Musokotwane said on Friday.
Copper output slumped to 698,000 tons in 2023 from 763,000 tons the previous year, data from the Zambia Chamber of Mines showed. “The two mining giants were out of the equation, now they are back,” Musokotwane said on Lusaka-based radio station Radio Phoenix. Canadian rival Barrick Gold said last year it was spending about $2 billion to drive up output at its Lumwana mine in Zambia to about 240,000 tons of copper by 2028.
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