Zambia's mineral industry and its position amongst world's major copper producers

Abstract

Tonnages and values of the chief minerals at present mined in Zambia are included in a survey which also touches on other mineral resources, e.g, nickel. Zambia's position amongst other major copper producers is described in terms of production, average grades mined, ore reserves and costs. Estimates of copper production for the next few years are given and some events affecting the copper industry in the past decade considered, especially as they relate to the position of the developing vis à vis the developed countries. The extent to which copper dominates Zambia's economy is noted and its contribution to the Gross Domestic Product, to exports, Government revenues and employment is compared with that of its sister industries in the CIPEC countries (namely Chile, Peru and Zaire). The corporate structure of Zambia's copper mining industry is described and the terms of the agreement by which the Government of Zambia acquired a 51 per cent interest in the industry in 1970 are set out. Important implications of recent mining legislation including the Mineral Tax Act 1970 and the Income Tax (Amendment) Act,1970, are also considered.