- Low copper production in 2023 adversely affected the exchange rate. Mining proceeds constitute over 90% of Zambia’s forex earnings.
- We are on course to exchange rate stabilization.
- US$1 billion will be pumped in Luanshya shaft 28.
- On KCM, a court-determined creditor scheme of arrangement will be negotiated after which the asset will be handed over to Vedanta for pumping-in investment.
- On Mopani, the plan is to hand over to a new investor at the end of February. Before then, the investor will make cash injections in tranches of US$ 80 million & US$ 50 million. After the handover, a further investment of US 490 million will be made.
©Ministry of Finance and National Planning