Tag Archives | copper
Things are looking quite positive for the Zambian economy, which has experienced strong growth in recent years, with real GDP growth between 2005 and 2011 more than 6% per year. Moreover copper – the nation’s economic lifeblood – is doing well, and it appears that Zambia’s copper production may once again outstrip that of the DRC, regifting the former with its long-held title of Africa’s number one copper producer.
In February 2013, KPMG in Chile published the Quarterly Commodity Insights Bulletin, focusing on Copper. With overall copper demand expected to increase 3.6% in 2013 and 4.3% in 2014, the following are some of the insights gleaned from the Bulletin… World copper mine production increased 2% year-on-year to 16.60Mt in 2012. Production from Chile, the world’s largest copper producer, increased 4% year-on-year to 5.48Mt, after a lower mine production in 2011 due to a series of labour disputes, extreme weather, and declining ore grades.
In Feburary of this year, copper prices were steady at about US$3.70/lb with underlying support primarily driven by demand from continued Chinese government expenditure on construction and infrastructure projects. Overall copper demand is expected to increase 3.6 percent in 2013 and 4.3 percent in 2014.