LUSAKA (Reuters) – More than half of copper production in Zambia, Africa’s second biggest producer of the metal, is currently losing money with prices near 5-1/2 year lows, the country’s Chamber of Mines said on Monday.
The industry body, in a statement issued the day before Zambians go to the polls to elect a new president, also reiterated its opposition to changes in mining taxes and royalties which it said “will severely penalize the vast majority of Zambia’s mining operations.”
