IN a recent announcement, Zambia’s Finance Minister, Situmbeko Musokotwane, revealed ambitious projections for the nation’s copper output, targeting around one million tonnes per year by 2026. This surge in production is anticipated as investments pour into expanding mining operations across the country.
Copper production stands as a pivotal pillar of Zambia’s economy. However, recent years have witnessed a gradual decline in production levels, despite the nation ranking as Africa’s second-largest producer of the metal. In a bid to reverse this trend, the Zambian government aims to elevate copper output to nearly 3 million tonnes annually by the close of 2030.
According to data from GlobalData, a company specialising in mining analysis and insights, Zambia experienced a dip in copper production from 800,000 tonnes in 2021 to 792,000 tonnes in 2023. Nonetheless, recent developments offer a glimmer of hope for the nation’s copper industry.
A significant boost is expected from the resumption of operations at key mines, including Mopani Copper Mines and Konkola Copper Mines (KCM). The latter, after resolving an ownership dispute with Indian miner Vedanta Resources, is poised to contribute substantially to Zambia’s copper production resurgence.
Speaking on a popular Lusaka-based radio station, Radio Phoenix, Minister Musokotwane emphasised the significance of these developments. He noted, ‘The two mining giants (Mopani and KCM) were out of the equation, now they are back.’ Additionally, investments in expanding First Quantum’s Kansanshi mine are anticipated to further bolster copper output in the coming years.
Foreign investment also plays a pivotal role in Zambia’s copper industry revitalisation efforts. Canadian mining company Barrick Gold recently announced a hefty investment of nearly $2bn to enhance copper production at its Lumwana mine. With projections estimating output to reach approximately 240,000 tonnes by 2028, this investment underscores long-term commitments to Zambia’s mining sector.
Moreover, a recent partnership between United Arab Emirates-based International Resources Holding and Jubilee Metals Group aims to extract copper from waste rock dumps in Zambia. The initiative plans to establish four modular processing plants with a combined annual capacity of 2.4 million tonnes, further contributing to Zambia’s copper production ambitions.
Minister Musokotwane expressed optimism regarding these developments, stating, ‘So by the end of 2025 to 2026, we will be producing more than a million tons of copper.’ With concerted efforts and strategic investments, Zambia aims to reclaim its position as a prominent player in the global copper market, driving economic growth and prosperity for its citizens.
