President Hakainde Hichilema Delivers Keynote speech at the Mining Indaba 2024
In his address at the 2024 African Mining Indaba in Cape Town, Zambia’s President Hakainde Hichilema highlighted the significant strides made in the country’s mining sector and called for continued investment to power Africa’s future.
President Hichilema began by expressing condolences on the passing of Namibian President Hage G. Geingob and extended sympathies to his family and the people of Namibia.
He then expressed gratitude to His Excellency President Cyril Ramaphosa and other dignitaries present.
Reflecting on the progress since his last address in 2022, President Hichilema highlighted key investments in Zambia’s mining sector.
These include the successful launch of the Enterprise Nickel Mine by First Quantum Minerals (FQM) with a $100 million investment, Moxico Resources’ production at the Mimbula Mining Project producing 6,000 tons of copper in the first nine months of operations, and Kobold Metals’ advancements in orebody definition at the Mingomba Project following a $150 million investment in 2022.
President Hichilema also noted Barrick Gold Corporation’s substantial investment in expanding the Lumwana copper mine, doubling down on investment with a $2 billion expansion and China Non-Ferrous Mining Corporation’s commitment to various operations in Zambia who Pledged $1.3 billion investment over the next five years, including a $600 million reopening of Shaft 28 at the Luanshya Copper Mines.
He emphasized Zambia’s commitment to becoming a reliable investment partner in Africa.
He assured stability in mining regulations and reiterated efforts to resolve legacy issues in mines like Mopani Mine and Konkola Copper Mines.
Acknowledging Zambia’s status as the world’s largest producer of emeralds, President Hichilema highlighted investments in the gemstone sector, including partnerships with Gemfields.
He also announced a nationwide geological mapping exercise to explore new mineral resources, emphasizing diversification into rare earths, lithium, gold, and others.
President Hichilema underscored efforts to enhance energy and transport infrastructure to support the Zambian Government mining ambitions.
The energy projects such as the Kafue Gorge Lower Power Station and the Zambia-Lobito Rail Line, a transport and logistics project that aims to facilitate smoother access to markets for mining operations.
Recognizing the global energy transition, President Hichilema emphasized Zambia’s role in meeting the increasing demand for copper, essential for renewable energy technologies.
He called for investment partnerships to support Zambia’s transition to a cleaner, greener future.
President Hichilema highlighted partnerships signed in 2022 with the Democratic Republic of Congo (DRC) and the USA to develop integrated value chains for electric vehicle batteries, aiming to bolster industrialization in Africa.
President Hichilema reiterated the call to invest with confidence, power the future, and expand mining value chains in Zambia and the region.
He urged technology firms, financiers, and energy companies to contribute to Zambia’s mining sector growth.
His address at the 2024 African Mining Indaba reaffirmed Zambia’s commitment to becoming a leading destination for mining investment, driving economic growth and sustainability in Africa and beyond.
