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Review of Value Addition to Raw Copper in Zambia

Journal: International Journal of Science and Research (IJSR) (Vol.6, No. 7)

Publication Date:

Authors : ; ; ;

Page : 779-784

Keywords : Value Addition; Stage value worth; technology;

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Zambias economy is mining dependent and is mainly negatively affected by the low global copper prices. Zambia is ranked the largest copper producer in Africa and seventh in the world. Zambia produces 70 % of Africas copper production which is very high-volume production, but in terms of value very low worth, only 0.04 % of worlds economy. This is the first stage of Value Addition. Typically, wealth realised out of first stage of Value Addition is very low and that have confined the country in poverty with the national head count poverty line rated at 60.5 per cent. This paper reviews the Value Addition to Coppermineral resourcein Zambia. Statistics indicate that Zambias economy is mainly made of exporting refined copper and raw copper accounting for 68.3 % of Gross Domestic Product. The Gross Domestic Product (GDP) can be increased to the power of two of the current one if the cross-Stage Value Addition was implemented. Zambia could have earned 524.35 billion US Dollars if it had engaged in the production of Litz wire representing 19.4 times more than she earned. The higher prices of the products in the second and third Stages of Value Addition answer the questions why Zambia has remained poor despite being the leader in the first stage of value addition. The values obtained from the mathematical Model that estimates the worthy of the product if the cross -Stage Value Addition was implemented indicate that value addition to refined copper can turn around Zambias economy and thereby reducing the National head count poverty line rate which is currently at 60.5 %.

Last modified: 2021-06-30 19:29:57