Zambia has recorded a reduction of exports of copper to about 790,000 metric tonnes in the first 11 months of 2011 from 820,000 metric tonnes in 2010. Almost all the country’s copper production was exported in 2011 as well as 2010.

According to the Bank of Zambia latest fortnightly report, the weekly average copper price on the London Stock Exchange decreased by 2.82% to USD 346.00 per pound during the fortnight ending November 18th 2011 from USD 356.05 per pound recorded during the previous fortnight.

BoZ said that “Last year, Zambia exported 797,201 metric tonnes of copper as at November 2011 compared to 829,726 metric tonnes as at December 2010.”

The data indicates that nearly half of all copper produced is used in the electronics industry, from computer chips and mobile fibre optic cable.

Zambia is internationally recognised as a major producer of copper and cobalt. Zambia is ranked as the world’s seventh largest producer of copper, generating 3.3% of the western world’s production, and world’s second largest producer of cobalt at 19.7%

(Sourced from www.daily-mail.co.zm)