Mr Jeyakumar Janakaraj CEO of KONKOLA Copper Mine has revealed that the mine has recorded an increase of 20% in copper production in the H1 of this year.

Mr Janakaraj said that KCM produced 200,000 metric tonnes of finished copper during the 2011 to 2012 financial year. The copper production for the H1 of the last financial year was 86,000 tonnes and the figures for the same period this year have increased by 20%.

He attributed the increase in the mine’s copper output to the increase in production at Konkola and Nchanga mines. The production was as a result of the fast development works such as of installation of equipment at the fourth shaft and commissioning of the Nchanga Concentrator which had replaced the old concentrator.

Mr Janakaraj said that despite the increase in copper production, there was an anticipated fall in copper prices on the London Metal exchange caused by forces of supply and demand and overstocking of copper by the largest buyer, China, which has stocked 1 million tonnes of the commodity. There was need for the government to come up with favorable stable taxation policies for the mining sector which he said was a long term investment project which does not produce returns immediately.

He said that “It takes six years to develop a mine and it takes 20 years for the investor to start receiving returns. Small changes that plaque the mining sector negatively affect the performance of the mining sector.”

He added that KCM was working in collaboration with the Zambia Development Agency and the Zambia Consolidated Copper Mines investment Holdings on coming up with cheaper value addition products apart from making copper wires and coils which were costly to export because of their being heavy in nature.

Source - Ukzambians.co.uk

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