By Amb Emmanuel Mwamba
Copper Exports Soar to $7.6billion but Government Gets $300million in tax income
ZAMBIA’S copper exports soared to US$7.6 billion in 2024, reaffirming the country’s status as Africa’s second largest copper exporter after the Democratic Republic of Congo.
Yet even as global demand for copper hits record highs, experts warn that Zambia and much of Africa continues to capture only a fraction of the true economic value locked in the continent’s rich copper reserves.
Copper remains the backbone of Zambia’s economy, accounting for the bulk of its export earnings.
In 2024, Zambia’s copper mainly flowed to Switzerland, China, the UAE and India, according to new data compiled by The Visual Capitalist.
“These figures show just how central copper still is to Zambia,” says economist and mining analyst Johnstone Chikwanda.
“But exporting raw copper alone means Zambia loses out on job creation, industrial development, and higher earnings that come from refining and manufacturing.”
Zambia’s performance places it behind only the DRC, which exported an impressive US$19.8 billion worth of copper this year, largely destined for China, the UAE, Egypt, Singapore and the USA.
Together, the two neighbours dominate Africa’s copper market, which as a whole reached US$35 billion in 2024, making copper the continent’s second most valuable export after oil.
When will Mr. Mwamba start telling the truth and stop making up lies to suit his agenda? In 2024, FQM alone contributed over $2.6 billion to the Zambian economy. From which, over $800 million was in form of taxes, so I don’t know where he getting his figure of $300 million for the whole mining sector. The link below says very different from what the man is claiming.
https://diggers.news/business/2025/06/03/we-made-a-direct-economic-contribution-of-2-6bn-in-2024-fqm/?fbclid=IwQ0xDSwL5XfVjbGNrAvld5GV4dG4DYWVtAjExAAEeV7GqZL9mBxwsljDneiyDwjxwLXhpVLvvrNpkasl8USJmjdaVm_Ad9xxSUNA_aem_WviFnPg5KE-3LZ1MuEfuIA
The same Mines you closed and liquidated.You don’t have any shame you people especially you Muamba/Mwamba.Just trying to find a fault in whatever the government is doing.To you niboyipa muzonse.We don`t need you near our goverment,not ever.Not any time soon Muamba/Mwamba. The one you stole use it wisely.
Awe people let’s be objective for once. Mr. Mwamba hasn’t said anything new here. All he’s saying is that we can do better by adding value. This has been a song of every politician including UPND..
Instead of differing, let’s agree that this is the unfortunate status quo, then together we chat way forward, re: Road map since solutions are known, bearing in mind that time is of the essence.
This ought to be done like yesterday. No time to waste please
Who is stopping Zambians from adding value to the minerals? Mining companies are not manufacturers, so we should not expect them to value add when it is not their line of business.