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In 2005 the international market copper prices broke through the $3000 / MT, which greatly stimulated the Zambia copper production. Zambia annual copper volume reached 410000 tons in 2008, which up from 16.2% in 2005. Zambia copper production is expected in 2005 500000 tons in 2014.Zambia copper mine has a great market development in the future.
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Galileo Resources Plc Joint Venture Agreement over Luansobe Copper Project, Zambia January 14, 2022 Four JSE mining firms that took major bets in preparation for expanding supply deficits in 2022
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Copper accounts for three-quarters of Zambia’s export earnings, but the mining industry contributes only about 10% of tax revenue. Mines Minister Wylbur Simuusa told Reuters in London last week that the new royalties could be rolled back if copper prices collapsed.
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The average annual copper price is forecast to drop by 6% y-o-y to $8,800 per tonne this year. Boosting supply in the global copper ore market is to push prices down, while the global demand languishes with slowed construction activity in China. According to World Bank’s data and October outlook, the average annual copper price soared by 51%
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