Mr. John Mwanakatwe, Secretary-General to the Zambian Government, and delegate to the recent meeting of?
Mr. John Mwanakatwe, Secretary-General to the Zambian Government, and delegate to the recent meeting of the international Council of Copper Exporting Countries in Peru, returned home on Sunday (November 30).
At the airport he told reporters of suggestions made at the council meeting. The council groups Zambia, Peru, Chile and Congo Kinshasa.
He said that a bank to hold reserves of copper in case of a world shortage had been suggested. The idea was to stabilise the market in a commodity where world prices have been very high for some time. This was important because high prices tended to make consumers look for substitutes.
He said that the Secretariat of the council in Paris would study all suggestions from the Lima meeting, and if a practical scheme emerged, Zambia hoped an extraordinary meeting would be called.
Mr. Mwanakatwe said Zambia would apply to the United Nations for recognition of the council (CIPEC) so it would be able to deal with the World Bank and UNCTAD, a U.N. Agency.
Asked about the search for copper substitutes he said he was confident copper consumption would continue to rise and the CIPEC countries had agreed to boost production to meet demands.