(3 minutes read)
· Zambia’s Vice President Inonge Wina, referring to the steadily rising copper prices on the international market, said it was a good indicator for Zambia’s mining industry and should be leveraged to boost the economy
· Copper prices on the London Metal Exchange have reached US$9,500 per tonne
· This rally in prices may be sustainable as motor companies are now focusing on electric cars, which would use copper as an alloy to manufacture parts of the vehicle made of copper
Zambia’s Vice President Inonge Wina, referring to the steadily rising copper prices on the international market, said it was a good indicator for Zambia’s mining industry and should be leveraged to boost the economy.
Copper prices on the London Metal Exchange have reached US$9,500 per tonne. This rally in prices may be sustainable as motor companies are now focusing on electric cars, which would use copper as an alloy to manufacture parts of the vehicle made of copper.
The Vice President was speaking at the 2021 Mining Indaba recently. Available trade data indicates that the price of copper in the international market has registered a steady growth. That rise is likely to continue in the future as well. She also underscored the positive working relationship between Government and the mining industry players and hoped that the relationship should lead to promoting a sustainable, diversified and export orientated industry.
Allaying the fears of the mining industry and their constant complaint that it was being over taxed, the Vice President assured that the government would look into the issues to resolve, taxation, regulatory and other related problems to ensure more investment into the sector. The two day indaba has the theme “Building for the Future: reflecting on Zambia’s Mining Taxation Policy Towards Sustainable Investment in the sector. Mining taxation policy and the tax administration have been figuring prominently in any discourse on mining in the southern African country.
