Copper prices still profitable for Mines says Dodia

Filed under: Breaking News |

DODIAThe private Sector development association (PSDA) has observed that the current copper prices are still profitable to the mining company.

The copper prices are currently hovering around slightly above $7,000 per metric tonne.

PSDA President Yusuf Dodia recalls that seven years ago copper was selling below six thousand dollars per tonne and some mining companies were still investing in mining operations.

Mr. Dodia notes that certain moves by some mining companies are as a result of the recent pronouncements by the government under statutory instrument number22 compelling them to bring their export earnings into the Zambian economy.

He notes that mining companies will now feel the pinch of having to follow the new regulations which is good for the Zambian economy of Zambia as it will get more revenue into the economy which will in turn go towards developmental projects.

He has further appealed to the Zambians to trust the government as it has their interest by compelling mining companies to bring their earnings arising from copper sales into the country.