Trafigura to Buy Quarter of Zambia’s Copper

10 February 2010 (Last Updated February 10th, 2010 18:30)

Trafigura plans to purchase a quarter of Zambia's copper production in 2010, which is expected to be at least 700,000t. The commodities trading company has been purchasing copper from Zambia since it was established in 2007. Trafigura CFO Pierre Lorinet said the company will p

Trafigura plans to purchase a quarter of Zambia's copper production in 2010, which is expected to be at least 700,000t.

The commodities trading company has been purchasing copper from Zambia since it was established in 2007.

Trafigura CFO Pierre Lorinet said the company will purchase 20% to 25% of total copper produced by Zambia in 2010.

"As a company, we are interested in expanding our operations in Zambia and are optimistic of increasing expenditure activities in the country," Lorinet said.

"We are also interested in building warehousing facilities along the line of rail which will enable us to stock up on commodities whilst waiting to supply them to interested buyers."

Trafigura said once logistics are set in place, it would be able to increase its purchase and exports of copper.

Trafigura has invested in mines in Spain, North Africa, South and Central America and is also expanding its portfolio to include Sub-Saharan Africa.