Zambia is poised to emerge as a global leader in the copper mining industry, driven by significant new investments aimed at growing mineral output. The expansion of existing mines and the development of new ones will help meet current and projected future demand, positioning Zambia for a prominent role in the global market.
The United Party for National Development’s (UPND) shift in mining policy is yielding positive results, with increased investment in the sector.
The government has prioritized diversifying the mineral base, promoting value addition, and ensuring Zambians benefit from the industry, which has attracted both local and foreign investment. 
Since taking office, President Hakainde Hichilema has made a strong commitment to increase copper output from the current 830,000 metric tons to 3 million metric tons by 2030.
To achieve the ambitious goal of 3 million metric tons of copper output, President Hichilema overhauled the tax policy, replacing the previous unstable and unpredictable tax regime with a stable, predictable, and competitive one to encourage investment.
Furthermore, recognising exploration as a crucial driver of growth, the government launched exploration activities to discover new mineral deposits, including a countrywide high-resolution aerial geophysical survey, to organise the mining sector more effectively and boost output.
Currently, Zambia has attracted approximately US$10 billion in investments to the mining sector over the past three years, thanks to the UPND’s effective policies and reforms that have revitalised the industry.
Given this background, Zambia has witnessed major investment in the mining sector facilitated by the new dawn mining policy regime.
The UPND government has successfully revived key mining operations, including Konkola Copper Mines (KCM) and Mopani Copper Mines. KCM, which were previously in liquidation, leaving private individuals in financial distress and uncertainty.
However, the two mines have since been resuscitated, restoring jobs and boosting investor confidence.
Mopani Copper Mines has also made a strong comeback, making significant contributions to the economy and strengthening Zambia’s economic stability through substantial tax remits.
Several other major investments are underway in Zambia’s mining sector. First Quantum Minerals has invested US$2 billion in the S3 expansion of the Kansanshi mine, which is set to come online in 2025. The mine is currently upgrading the on-site smelter to boost downstream beneficiation.
Meanwhile, Barrick’s Lumwana copper mine is undergoing a US$2 billion transformation with the development of a Super Pit, which will unlock the potential to make Lumwana a long-life, high-yielding, top 25 copper producer.
KoBold Metals has made a significant discovery, finding Zambia’s largest copper deposit in a century.
Analysts suggest that Mingomba has the potential to become the world’s third-largest copper producer.
Other notable investments include:
China Non-Ferrous Mining Corporation’s (CNMC) US$1.5 billion investment in the 28 Shaft mine in Luanshya, which is expected to increase production.
Sinomine Limited’s US$600 million investment in the Kitumba Mine, which is expected to produce 50,000 metric tons of copper annually and create 2,500 jobs.
The reopening of the Kalengwa mine after 46 years, handed over to Euro Africa Company, marks a milestone in the government’s mission to revitaliee the mining sector.
The recommissioning of the Lubambe deep shaft is expected to boost production.
The opening of the Mimbula Mine, owned by British Company Moxico Investments, has created over 900 jobs and is projected to produce 56,000 metric tons of copper annually.
President Hakainde Hichilema was yesterday in Chililabombwe on the Copperbelt, where he recommissioned the Lubambe deep shaft at Lubambe Copper Mine.
These investments demonstrate the growing interest in Zambia’s mining sector and its potential for economic growth.
With these successful investments, Zambia is poised to be a world-class economy or, at least, achieving middle-income status.
