Zambia witnessed an increase in copper production in 2010, with the privatisation of the mining sector leading more revenues for local authorities on the copper belt.
Chamber of Mines assistant general manager Lawrence Chileshe said that copper production had increased from 256,000t in 2000 to over 700,000t in 2010.
“Ever since the mining sector was privatised in 2000, over $5bn has been invested in the mines,” Chileshe said at Kitwe at the Accountants Forum.
The sector has also helped restore the local industry, which was on the edge of collapse, due to lack of a market to sell their commodities.
In addition, rise in copper price in the international market has resulted in an increase of tax contributions from mining firms to the government.