The copper phoenix

摘要

A combination of nationalisation and falling prices almost finished off the Zambian copper industry. But privatisation and rising prices have sparked a belated revival in the country's mines. Back in the 1970s Zambia was consistently producing more than 700,000 tonnes of copper a year. By 2000 this had plunged to just 249,100 tonnes-the least since the 1956s. Years of mismanagement by the state, crumbling infrastructure and falling prices had taken their toll. But in 2000 Zambia decided to privatise its mines and in 2002 the copper price finally began to revive. From a low of $1,319 per tonne on average in 2001, copper prices have recently touched $8,800.