Zambia copper output up 12.9 pct in Jan-Aug 2008
(Reuters)
Updated:
2008-11-05 09:30
Counter:
Zambia's copper cathode production rose 12.9 percent to 377,598 tonnes for the eight months to August compared with last year's output during the same period, central bank data showed on Tuesday.
The Bank of Zambia (BoZ) fortnight statistics report obtained by Reuters showed that copper production came in at 377,598 tonnes from January to August this year while 334,327 tonnes was produced for the same period in 2007.
It indicated that copper exports were recorded at 355,708 tonnes in the same period this year compared with 318,163 tonnes last year.
Analysts say the country's copper production has risen due to higher demand by China and also the opening up of new mines in the mineral-rich southern African country.
Cobalt production for the same period however, marginally declined to 3,081 tonnes versus 3,185 tonnes for the eight months to August 2007 while exports of cobalt were recorded at 3,098 tonnes compared with 3,139 tonnes the previous year.
Copper production is Zambia's economic lifeblood and the copper mines are a major employer in this country of 12 million people.
The Treasury estimates that 600,000 tonnes of copper will be produced in 2006 compared with 535,000 tonnes output for last year, while further projections are that production will hit 1.0 million tones by 2010, following huge investments from foreign firms in the copper industry.
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