Posted August 13, 2018 03:06:38 The copper mining industry is once again growing, thanks to the government’s decision to increase the supply of copper to the country.
The new policy will boost copper supply by a whopping 2.5 billion tons.
The announcement follows a year of heavy price increases and supply disruptions caused by the copper mining downturn.
In January 2018, the Government of the Republic of South Sudan announced a new national plan for copper mining.
It includes a 5-year investment plan, the implementation of a national plan, a copper mining plan and a national investment plan.
According to the plan, South Sudan will purchase 2.75 billion tons of copper from international sources, with the remaining 1.75 million tons coming from the country’s own copper mines.
The mining companies involved in the copper mine projects are: Akaba Copper Corp., Al Ain Copper Corp. and Akaba Group.
The government has already been paying the price for the high prices that have plagued the country since 2013.
The country’s copper price rose from $US2 per tonne in 2013 to $US4.80 in 2019.
The price for copper mined in the country has more than tripled since then, to $NZ40 per ton in 2019 and $NZ55 per ton of copper in 2020.
The Government of South Africa says that the new investment plan will boost South Sudan’s copper production to the tune of 1.4 million tons per year.
It says that this will be followed by an additional 1.5 million tons of production in 2020 and a further 1.8 million tons in 2021.
The South Sudan Mining Industry Board estimates that the total value of the new copper mine development will reach $US6.6 billion in 2026.
In 2020, South Africa signed a new bilateral investment pact with China that will see the Chinese government invest $US1.4 billion over five years in the South Sudan mining industry.
The copper mines involved in South Sudan have seen a major surge in activity in recent years.
In July 2019, Akaba Corporation announced that it had mined more than 9 million tons worth of copper.
The company’s chief executive, Zain Ahmed, said at the time that the increased activity was part of the country ‘s recovery from the copper crisis and was part and parcel of the efforts by the Government to bring its economy to a better place.’
Akaba Corporation said that the growth in copper production has resulted from a ‘very positive economic recovery.’
According to Akaba’s CEO Zain Ahamed, the company will invest $3.4bn in the new mines in 2019, which will add to the $3bn that it already invested in South Africa during the copper boom.
In 2018, China announced its intention to increase its investments in South-South cooperation.
The two countries signed a series of agreements aimed at supporting a ‘more sustainable’ relationship between the two countries, with China investing $US350 million to $600 million in 2020 alone.
A statement from the Ministry of Mines and Energy (MMEN) said that South Sudan has the capacity to export a maximum of 2 million tons a year.
China’s plan to invest in South Darfur is also expected to bring about significant economic benefits for both countries.
The plan will include a $1.3 billion investment in the newly-created China Gold Mines, the largest copper mine in South South Sudan.
“China Gold Mines is a major, long-term project which will enhance our capacity and enable us to diversify our economy,” the statement said.
On the other hand, the South-East African country of Namibia has a large copper industry, with more than 5 million tons mined and sold.
The ministry says that Namibia ‘s copper production will increase by 1.2 million tons during the first three years of the project.
Since South Sudan is a member of the African Union, it can enjoy access to the same markets as the country that currently produces most of its copper.
However, it is still in need of international copper prices to fund the copper industry.
According the ministry, Namibia will receive $US12.6 million from the new investments in 2020, which is an increase of almost $US400 million over the previous year.