Business
ZCCM-IH Eyes Copper Trading to Boost Zambias Earnings
ZCCM Investments Holdings says it wants to enter copper trading to help...
By Arnold Tutu
ZCCM Investments Holdings says it wants to enter copper trading to help Zambia earn more from its mineral resources.
Company Board Chairperson PHESTO MUSONDA says Zambia cannot continue relying on dividends from its mining investments alone but must take a more direct role in selling copper.
Mr. MUSONDA was speaking at the Financial Times Metals and Mining Summit in London, where he said participation in metals trading would allow ZCCM-IH to capture more value from the country’s copper industry.
He said the company is engaging international investors, financiers and copper buyers to explore partnerships and understand global market opportunities.
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Mr. MUSONDA also said Zambia needs reliable electricity and increased local processing capacity to benefit more from its mineral resources.
The proposed move comes as global demand for copper rises, driven by electricity infrastructure, data centres and electric vehicles.
ZCCM-IH says a stronger role in copper trading would support Zambia’s target of producing three million tonnes of copper annually by 2031, while promoting local value addition and job creation.
This is according to a statement issued to ZNBC news by the company’s Corporate Affairs Manager, LOISA MBATHA.
Source: Zambia24 — Read more
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