Situmbeko Musokotwane said new mines and expansion projects by Canada’s First Quantum Minerals, Brazil’s Vale, Equinox, London-listed Vedanta and Glencore International AG would boost copper production.
“We are opening new mines and expanding others so in all, in the next five years, we will be close to 2 million tons,” Musokotwane said.
Musokotwane said copper production was expected to rise to the targeted 1 million tons by 2012.
“There are new mines still to open and that should help raise production,” he said.
First Quantum on Friday launched the start of construction of a $1 billion copper mine in north-western Zambia, which is due to start operations in 2014 with peak production estimated at 300,000 tons.
Vedanta’s Konkola Copper Mines (KCM) plans to invest $1 billion in the next 3-4 years on expansion and upgrades in a bid to become a major global copper producer, its chief executive said in December last year.
Musokotwane said the government did not intend changing current mining policies.
“We will maintain the existing policies in order to continue attracting investors.”
