Ero Copper and Vale close agreement on Brazil’s Furnas project
The iron oxide-copper-gold project is located near Vale's Salobo operations and Ero’s Tucumã project.
Zambia’s annual copper production will grow more than 40% to 1 million tons in 2027, according to the country’s Finance Ministry.
Africa’s second-largest copper producer is seeking to take advantage of what many predict will be a supply shortfall in the coming years, as the energy transition causes rising demand for the metal from electric vehicles to wind farms.
Zambia’s copper output hit a 14-year low of 698,566 tons in 2023 as its mining sector faced frequent tax changes and constant clashes with the previous government.
According to the medium-term budget plan published on Sunday by the Ministry of Finance and National Planning, production is projected to increase each year over from 2025 to 2027. That gain is predicated on the resolution of challenges at some of the country’s major mines, green-field projects and the expansion of existing facilities.
The southern African nation, which generates about 70% of its export earnings from copper, plans to increase the percentage of the its landmass that’s mapped for mineral resources through integrated geophysical, geological and satellite imagery surveys. Zambia plans to more than quadruple copper output to 3 million tons by 2031.
(By Taonga Mitimingi)
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