Zambia may not benefit much from hiked copper prices, fears ZACCI

ZAMBIA Chamber of Commerce and Industry (ZACCI) president Chabuka Kawesha says Zambia is unlikely to significantly benefit from the rise in copper prices because of the mechanisms in place. Copper prices have continued to surge, with prices on the London Metal Exchange hitting almost US$10,000 per tonne. Commenting on the development, Kawesha said Zambia would only benefit marginally over a short period of time but benefit significantly over a long period of time from the increase in prices. “The issue with copper is that it is usually under order. Long time orders, like you know, contracts are signed and the buyers are already in place. So, basically when the mine is producing, they are feeling obligated that they have to…...