Zambia has slashed its copper output forecast for 2015 by 26% as prices have fallen to six-year lows and severe power shortages have curbed production, according to the country’s finance minister, Alexander Chikwanda.
Zambia depends on copper exports for 70% of its exports. According to a Bloomberg news agency report, the government had forecast 808 000 metric tons in output for 2015 – around 100 000 tonnes more than last year’s output.
“By the end of the year, I don’t think we’ll go far beyond 600 000 tons,” Chikwanda said, noting that he was more optimistic about next year’s outlook.
