The Zambia copper production is expected to rise by 5% in 2016 to 746,000t (2015: 710,560) thanks to increased copper output of new mines.
These estimates are included in a recent report titled “Zambia: Buffeted From All Sides”, by the Institute of International Finance (IIF), a global association of the financial industry.
The official target for copper production is about 1.5m t per annum by 2017. However, this is deemed overambitious by the IIF given electricity constraints, sluggish global demand and low prices.
Despite these constraints, the IIF expects copper production in Zambia to rise steadily over the next few years.
“The current account deficit is forecasted to narrow this year and next as copper production rises, and especially if prices edge higher,” the report indicates.
IIF Zambia Report 2016: Themes
The IIF report further covers the following themes:
- Copper mining, including copper prices and production, as well as mining taxation and its effect on the Zambian investment climate
- Power generation issues in Zambia and their impact on companies and the economy
- Performance of the Zambian Kwacha against other currencies, depreciation rates and outlook
- Monetary and fiscal policy of Zambia, particularly the stance of the budget deficit
- Risks and opportunities in Zambia, including the sectors with the highest potential in the country
The IIF concludes that over the longer term, the Zambian economy has significant potential thanks to its rich natural resource base and track record of pro-market policies and democratic stability.
To access the IIF “Zambia: Buffeted From All Sides” report visit: www.iif.com
