Zambia's copper production expected to rise to 1 million tons by 2026, driven by significant investments in production expansion, including by First Quantum Minerals, Zambian Finance Minister Situmbeko Musokotwane said on May 5, according to a report by Reuters cited by the Mining.com website. It will increase the consumption of HPGR and VSI wear parts (such as Hard Alloy Stud, Side Stud, cheek plate, Rotor Tip Set, Distributor Plate, Carbide Plate...).
Although the government has planned in 10 years will be crucial to the economy of copper production to 3 million tons, but Zambia, the world's second-largest copper producer's output is still in decline.
The country's copper production fell to 698,000 tons in 2023 from 763,000 tons the previous year, according to the Zambia Chamber of Mines.
Copper production growth of other factors also include, recently received a new investment Mopani copper mine (Mopani Copper Mines) expansion, and just with the Indian mining company Vedanta Resources (Vedanta Resources) to resolve ownership disputes of Konkola Copper Mines (KCM) production resumption growth The company's production has returned to growth.
"The two mining giants (Mopani and KCM) had a drop in production, but now it has recovered," Musokotwani said in local media.
First Quantum Minerals' Kansanshi copper mine expansion investment also expected to increase production, Musokotwani said.
Canada's Barrick Gold said last year it would invest $2 billion to expand production at its Lumwana copper mine in Zambia, with plans to increase copper output to 240,000 tons by 2028.
The UAE's International Resources Holding (IRH), which bought Canon's 51% stake in the Mopani copper mine, has committed to investing $1.1 billion to expand production at the mine.
In 2019, Zambia's then-government's plan to take control of the KCM copper mine led to a dispute with Vedanta, which has virtually paralyzed production at the mine. Zambia hopes that the increased investment will followed by a resumption of production at the mine.
"So by the end of 2025-2026, we will be able to produce more than one million tons of copper," the finance minister said.
