Copper slump means half of Zambia’s production mined at a loss

About half of Zambia’s copper production is lossmaking after prices of the metal extended declines to the lowest level since 2009, the local chamber of mines has said. The price slump combines with higher mineral royalties introduced this month to put pressure on mines in Africa’s largest producer after the Democratic Republic of Congo, says Jackson Sikamo, president of the industry lobby group.