Zambia’s mining regulator said it had suspended operations at Mopani Copper Mines’ Mufulira mine after it failed to account for all its underground stuff.

JCHX: Subsidiary Signs $21.5 Million Zambia Mine Engineering Contract JCHX announced on the evening of March 25 that its wholly-owned subsidiary, JCHX Mining Construction Zambia Co., Ltd., signed a contract with Mopani Copper Mines Limited for the infrastructure and support engineering of the Mufulira Mine in Zambia. The contract price is $21.5 million (excluding VAT), with a contract period of 28 months, starting from January 30, 2025. The contract is a unit price contract, and the final amount will be based on the actual completed workload and settlement. The fulfillment of the contract will have a certain impact on the company's performance and will help promote the company's future business development.

According to SMM, Zambia's copper production in 2024 is expected to increase by 12%, driven by a recovery in output from major mines, as the government relies on the sector to boost economic growth. Zambia's Minister of Mines, Paul Kabuswe, stated that production would reach approximately 820,670 mt, up from 732,580 mt in the previous year. The Lumwana mine, owned by Barrick Gold, increased its production, while Konkola Copper Mines (KCM), owned by Vedanta Resources, resumed operations. The Mopani Copper Mines, recently acquired by UAE-based International Resources Holdings, also saw a rebound in production. Kabuswe noted that despite catastrophic droughts affecting hydropower generation and causing power shortages, production still increased.

[Zambia's Copper Production to Grow by 12% in 2024 Due to Recovery in Major Mines' Output] According to foreign media on January 22, Zambia's copper production is expected to grow by 12% in 2024, driven by a recovery in output from major mines, as the government relies on the sector to boost economic growth. Zambia's Minister of Mines, Paul Kabuswe, said on Wednesday that production would reach approximately 820,670 mt, up from 732,580 mt in the previous year.

According to the United States Geological Survey (USGS), global copper reserves were 1 billion tons in 2023. Countries rich in copper resources mainly include Chile (190 million tons), Australia (100 million tons), Peru (120 million tons), and Russia (80 million tons), Mexico (53 million tons) and the United States (50 million tons), etc. In terms of output, global copper output from ore in 2023 was 22 million tons. The main copper-producing countries were Chile (5 million tons), Peru (2.6 million tons), China (1.7 million tons), and the United States (1.1 million tons).

According to foreign media on October 10, market participants said that the Zambian government is expected to make a final decision this month on the sale of Mopani Copper Mines, which it will purchase from Glencore in 2021.