Zambia’s Mining Sector Sees Promising Turnaround with Policy-Driven Resilience
Zambia’s mining sector has shown a promising turnaround, with economic expert Kelvin Chisanga commending its resilience and policy-driven improvements.
Reflecting on the sector’s performance, Chisanga highlighted that despite a 20% decline in production in 2023, the 12% growth recorded in 2024 demonstrates the effectiveness of government policies and the commitment of key stakeholders.
“The positive growth can largely be attributed to the government’s efforts to resolve legacy issues at Mopani Copper Mine and Konkola Copper Mine,” Chisanga stated.
He acknowledged the significant contributions of major players such as Barrick Gold and First Quantum Minerals, as well as other industry participants, in driving this growth despite challenges in the energy sector.
Chisanga emphasized the need for greater support for small-scale miners, proposing the development of aggregation models to boost their production and overall contribution to the mining industry.
Additionally, he highlighted the importance of accelerating geo-mapping processes and resolving mining cadastre challenges to improve resource management and exploration.
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“Efforts must be expedited to enhance mineral processing and achieve faster value addition, aligning with Zambia’s target of producing 3 million metric tons annually,” he noted.
On regulatory matters, Chisanga stressed the importance of maintaining the current tax regime while addressing export tracking and compliance challenges, particularly regarding Rule Number 18.
He expressed optimism about the sector’s future, stating that sustained policy reforms, debt resolution, and determined investors could lead to increased capital inflows and bolster foreign exchange reserves, driving national economic stability.
“The mining sector’s growth trajectory, backed by strategic planning and collaborative efforts, has the potential to propel Zambia’s broader economic ambitions,” Chisanga concluded.
