Zambia’s copper output surged by more than 11 percent in 2024, reaching over 800,000 metric tonnes, Finance Minister Situmbeko Musokotwane announced on Thursday.
The increase marks a significant rise from more than 720,000 tonnes produced in 2023, with projections indicating that production could reach between 950,000 and one million tonnes in 2025.
Speaking during the launch of the Zambia Poverty and Equity Assessment in Lusaka, Minister Musokotwane attributed the boost in production to prudent mining policies introduced by President Hakainde Hichilema’s administration and the reopening of previously closed mines.
Zambia, one of Africa’s top copper producers, has long relied on its mining sector as the mainstay of the nation’s economy.
The country’s rich copper deposits have attracted significant foreign investment and sustained its economic growth.
However, the mining sector has faced various challenges over the years, including fluctuating global copper prices, regulatory uncertainties and operational difficulties at some mines.
The current administration’s strategic approach, which includes regulatory reforms and incentives to attract investment, has begun to bear fruit.
The reopening of key mines has not only bolstered production figures but has also provided employment opportunities and stimulated local economies.
JN/APA