Zambia's government unveiled a flurry of new taxes on the mining sector starting next year, which could cripple the country's output and exports, and push global prices of industrial metals higher. Kristian Rouz — Africa's second-largest copper producer moves to increase the fiscal burden on ...
Copper Mining Equipment Zambia For Sale. The copper producer, based in Vancouver, said it's been "reliably informed" that Zambia said to near mine company stake sale to Israeli investor of high-performance mineral-processing equipment to the African mining industry by 2022.
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Konkola Copper Mines (KCM) is the largest copper mining company in the country. Although based in Chingola, 15% of its operations—namely Nkana Refinery, Nkana Acid Plants and Nkana Smelter (the largest smelter in the nation) -- are located in Kitwe. The Nkana Smelter is the largest primary copper production plant in Zambia.
Zambia's mining companies alone invested more than $12 billion in new production. "Fluctuating prices serve a valuable economic purpose" In 2003, copper was trading at about $2 000 per tonne; ten years later, on the back of continued Chinese demand, it had shot up to more than $8 000 per tonne.
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However, copper prices on LME are bouncing along close to one-month low of US$4,623.25 a tonne recorded on October 14. In other markets, the price of copper, which is Zambia's main export, remained unchanged on the Shanghai Futures Exchange, trading at 37,160 yuan (US$5,493).