Economy

Economist: Banning raw copper exports unrealistic

Local Economist Oliver Saasa says it will be unrealistic for government to ban the exportation of raw copper as it accounted for a major stake of the country’s export revenue.

Reacting to Commerce, Trade and Industry Minister Bob Sichinga’s recent statement that Government will ban firms exporting raw copper as a way of encouraging value addition to the commodity, Professor Saasa said Zambia was not yet at a level where it can process its copper to add value to it.

He told ZANIS in an interview in Lusaka today that as much as there was need to encourage value addition to products in the country, people needed to be realistic with what they were capable of doing.  Prof. Saasa stated that the country has not yet reached the level of industrialization and technological advancement that can enable it process the over 700, 000 metric tonnes of copper cathodes it produces.

Source: Zambian Watchdog

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