CEC Urges $12bn Energy Investment to Power Zambia’s 3 Million Tonnes Copper Production Goal
Zambia Needs $12 Billion in Power Investment to Achieve 3 Million Tonnes Copper Target, Says CEC
Copperbelt Energy Corporation Plc (CEC) Managing Director Owen Silavwe has called for accelerated private-sector investment in Zambia’s power sector, warning that expanded energy infrastructure is essential to achieving the country’s target of producing three million metric tonnes of copper annually by 2031.
Speaking at the Zambia Country Showcase during the Investing in African Mining Indaba in Cape Town, Silavwe commended the government’s reform agenda, noting that recent policy measures in the mining and energy sectors have strengthened Zambia’s investment climate.
He highlighted market liberalisation and the introduction of open access in the electricity sector as key reforms reinforcing the country’s pro-business positioning.
Silavwe stressed that meeting the mining sector’s production ambitions will require a substantial expansion of generation and transmission capacity.
“To support the mining industry’s goal of producing three million tonnes of copper per year by 2031, Zambia must fast-track energy development,” he said. “This will require close to US$12 billion in investment and the addition of approximately 10 gigawatts of new generation capacity by 2030.”
He emphasized that the long-term success of the mining industry and Zambia’s broader economic transformation depends on a reliable, scalable, and diversified power supply.
Highlighting CEC’s role, Silavwe described the company as a long-standing private-sector partner to the mining sector. CEC is currently developing more than 250 megawatts of renewable energy capacity while strengthening cross-border transmission infrastructure to enhance regional power security.
Through its participation in the Southern African Power Pool, the company facilitates regional electricity trading and improves supply resilience.
Reflecting on recent power shortages, Silavwe said the constraints had heightened awareness among both public and private stakeholders.
“Recent supply gaps have served as a wake-up call,” he said. “They are not only a challenge but also an opportunity to accelerate Zambia’s energy transition.”
He also pointed to Zambia’s Integrated Resource Plan as a critical framework for aligning energy expansion with the mining sector’s growth trajectory.
Silavwe reaffirmed CEC’s commitment to mobilizing private capital, fostering strategic partnerships, and deploying innovative solutions to deliver sustainable, long-term energy infrastructure in support of national development objectives.
