Impact of COVID-19 on Zambia’s Mining Sector 2021

The mining industry has been a backbone of Zambia’s economy since its independence in 1964. It accounts for about 14% of Gross Domestic Product (GDP), over 70% of export earnings. Additionally, the sector contributes substantially to employment and domestic revenue generation. However, the growth of the sector has been threatened by Covid-19. The global health pandemic which was first reported in Wuhan, China has since spread worldwide. Its effects have been harsh, causing global stock markets to drop, mineral commodity prices to tumble, and mine production outputs globally to take severe hits. In response response to the pandemic, Zambia just like many other countries across the globe implemented several measures to reduce the spread of the virus, and key among the measures included closing down borders. Further, to ease pressure on mining, government resolved to suspend import duty on concentrates.

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