The Public Policy Institute of Zambia (PPIZ) has observed the need for Zambia to start processing copper locally in order to fully benefit from the booming electric cars business.
PPIZ President Fabian Chewe tells Money FM News that the world is moving towards the manufacturing of electric cars which should be a plus for Zambia that produces the raw materials that are needed to manufacturer electric cars.
Mr. Chewe says if Zambia can start processing even 5 percent of copper locally, the country is likely to get about US$5 trillion in terms of revenue annually.
“The challenge we have at the moment is failing to process copper locally. You see, if we can start processing copper locally we can get the full benefits from our minerals which are on high demand on the international market,” he said.
He is confident that if the country can start processing copper and cobalt locally, it is likely to benefit from revenue.
Mr. Chewe said this is the time for Zambia to grow the mining industry by processing minerals locally.