Copper producers are ready to start expansion projects worth $2bn in Zambia next year if the industry can reach an agreement on royalties with president-elect Hakainde Hichilema’s new administration.

Companies including First Quantum Minerals and EMR Capital are ready to raise funding for the projects, while other producers need to spend “hundreds of millions of dollars” in capital that they’d held back since 2019 because of tax changes that deterred investment, the Zambia Chamber of Mines said...

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