Zambia to Start Trading Its Own Copper, Competing With Glencore [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: (Bloomberg) — Zambia plans to directly buy and sell a portion of the copper produced in the southern African nation, competing with trading giants including Mercuria Energy Group Ltd. and Glencore Plc. “We obviously want to do it in a way that's fair, that's commercially suitable for the mining companies,” Jito Kayumba, President Hakainde Hichilema's senior economic adviser, said in an interview on Monday. “To say that we can come as a commercial player to compete with the other commodity traders, to make financing available for the mines for us to have a fair share of the resource.” Article content Article content Zambia joins neighbors including Botswana and Democratic Republic of Congo in trying to secure greater economic benefits from its mineral wealth through getting access to the commodities to sell directly to buyers. While the government has shareholdings in some mines, it's argued for decades that state revenues from them are too low. Comp
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