March 15, 2011
Zambia is home to the Zambian Copperbelt Province, a region that hosts world class copper deposits. Zambia is most famous for its reserves of copper
Copper, along with cobalt was first mined from the belt in the 1930s. Copper production in Zambia peaked in the early 70’s- but then declined for 30 consecutive years due to lack of investment, low prices and uncertainty over Copper reserves in Zambia were historically state-run, and with Zambia being one of the world’s most impoverished nations, there was little money to put into exploration. Exploration expenditures were extremely vulnerable to copper’s price fluctuations.
In the early 70’s, the country’s copper output was roughly 700,000 tonnes of copper per year. By 1998, output of copper plummeted to 228,000 tonnes, due to low prices and minimal reinvestment in the mines.
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