Zambia extends copper concentrate export tax exemption, smelter shutdowns trigger inventory outflows

⑴ Zambia has extended the copper concentrate export tax exemption period of 10% until September 30, in order to help clear the inventory of unprocessed materials. This is because the country’s main smelters are undergoing long-term maintenance and repairs. The tax exemption was first implemented in August 2025 and, according to government notice, covers 271,742 tonnes of copper concentrate. ⑵ As Africa’s second-largest copper producer, Zambia mainly exports refined cathode copper rather than concentrate. In 2025, the country exported 890,346 tonnes of copper and plans to increase its total national output to 3 million tonnes by 2031. Mopani Copper Mines received the largest tax-exempt export quota at 100,000 tonnes; Barrick’s Lumwana Mining Company was allocated 56,986 tonnes; First Quantum Minerals and Chinese-owned Nkana Mining Company each received a quota of approximately 43,000 tonnes.