Low copper prices hit mines

Lusaka
An electricity shortage and weaker copper prices have put pressure on Zambia's mining industry, threatening output, jobs and economic growth in Africa's No. 2 producer of the metal. The power problems and copper price slide have driven the kwacha currency to record lows amid a selloff in commoditylinked currencies as key consumer China's economy has slowed, renewing pressure on Zambia to diversify its economy. Glencore, Vedanta Resources Plc and China's NFC Africa and CNMC Luanshya Copper Mine have said they will shut down some operations due to the harsh business environment. "This is serious, it could bring our economy to its knees," independent analyst Maambo Hamaundu said. Zambia's power generation capacity stands at 2,200 megawatts (MW), with most of the electricity produced from hydropower, but supply is often erratic. _