Zambia courts investors for copper output tripling

ZAMBIA is seeking global investment, including from the United States, to more than triple copper output to three million tons by 2031, the country’s mines minister was quoted as saying in an article by Reuters on Tuesday.Africa’s second-largest copper producer after the Democratic Republic of Congo produced 890,346 tons last year, falling short of its one million ton annual target. Mines Minister Paul Kabuswe said investment discussions were under way with multiple countries as part of the broader production drive.“The U.S. is part of it,” Kabuswe said, without elaborating. Zambia is among the African nations Washington is keen to partner with as it seeks to reduce China’s dominance over materials critical to advanced manufacturing, said Reuters.Kabuswe dismissed suggestions that a separate US health aid package — reported to be worth more than $1bn and currently under negotiation — was linked to mining access. “There is nothing linked to anything,” he said, adding that Zambia approached all negotiations with care. “It has to be a win-win situation for Zambia and for the investors.”Beyond copper, Zambia holds significant reserves of cobalt, nickel, manganese, graphite, lithium and rare-earth elements. Mining companies operating in the country include China’s JCHX Mining, Canada’s Barrick Mining and First Quantum Minerals, India’s Vedanta Resources, and KoBold Metals, which is backed by US investors.The post Zambia courts investors for copper output tripling appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com