Higher Global Copper Prices Seen Easing Zambia Mining Costs

The current upward trend in global copper prices will ease operational costs for Zambia's copper mining companies, Zambia's Post Newspaper reports Thursday.

The privately-owned daily quoted Nathan Chishimba, the president of the chamber of mines as saying that with attractive metal prices, operational costs for the mines were likely to ease.

However, he added that global copper prices are not expected to rise dramatically above the current levels.

"...The high prices will also boost confidence in other sectors of the global economy and this will help relieve economies of the effects of the financial crisis," he was quoted as saying. Zambia is Africa's largest copper producer.

A dip in global copper prices forced a number of mines to close down last year threatening the future of the sector.