The Zambia Chamber of Mines says the country’s copper production outlook for 2023 is dependent on Mopani and Konkola Copper Mines being brought back to full operational capacity even in the face of an impending global economic recession.
Chamber Chief Executive Officer Sokwani Chilembo tells Phoenix News that while it is projected that a third of the globe will face economic recession in 2023, Zambia’s mining sector is still enjoying a strong price outlook for copper but is of the view that sustainability is contingent on how quickly the country resolves the business distress on the Copperbelt.
Mr. Chilembo is however categorical that it is difficult to forecast how the year will turn out for Zambia’s copper mining while there are challenges with the country’s copper production and assets like KCM and Mopani still in distress.
He however says the impending opening of the new $100 Million First Quantum Minerals-FQM- enterprise nickel mine in the first half of this year will help to boost the country’s revenue and put the industry in a better position than it currently is.
