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Zambia’s annual copper production will grow more than 40% to 1 million tons in 2027, according to the country’s Finance Ministry.
Africa’s second-largest copper producer is seeking to take advantage of what many predict will be a supply shortfall in the coming years, as the energy transition causes rising demand for the metal from electric vehicles to wind farms.Zambia’s copper output hit a 14-year low of 698,566 tons in 2023 as its mining sector faced frequent tax changes and constant clashes with the previous government.
The southern African nation, which generates about 70% of its export earnings from copper, plans to increase the percentage of the its landmass that’s mapped for mineral resources through integrated geophysical, geological and satellite imagery surveys. Zambia plans to more than quadruple copper output to 3 million tons by 2031.
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