INSUBCONTINENT EXCLUSIVE:
Zambia is launching a bold initiative to transform its copper mining sector, aiming to increase production from around 800,000 metric tons
To achieve this target, the Zambian government plans to partner with private investors.This involves transferring over 40 mining licenses
from the Mines Ministry to a state-owned enterprise
This entity will negotiate with international companies interested in minority stakes.This arrangement allows them to participate in
The Zambian copper industry has faced challenges in recent years, including political instability and fluctuating tax policies.In 2023, the
country experienced a significant drop in copper output, reaching a 14-year low of 698,566 metric tons
This decline highlights the urgent need for revitalization within the sector.Zambia Aims to Boost Copper Production and Reclaim Top Position
(Photo Internet reproduction)To attract investment, Zambia will provide results from a comprehensive aerial geophysical survey funded by the
mining companies are already active in Zambia
First Quantum Minerals Ltd., Barrick Gold Corp., and Vedanta Resources Ltd
are key players that could significantly contribute to increased production.These firms have shown interest in expanding their operations,
The projected increase in production has substantial economic implications for Zambia.Copper is vital for the economy, accounting for over
A rise in production could stabilize national revenue and strengthen the economy amid global market fluctuations.Moreover, this expansion
could create thousands of jobs, benefiting local communities and reducing poverty levels
Increased mining activities will also necessitate improvements in infrastructure, particularly in energy supply and transportation.These
enhancements are expected to stimulate broader economic growth
copper, which is essential for renewable energy technologies and electric vehicles.By enhancing its production capacity, Zambia can
production represents a significant opportunity for economic growth and geopolitical positioning.By leveraging state resources and
attracting private partnerships, Zambia aims to revitalize its mining sector while addressing the global demand for copper.
