Zambia and World Bank Partner to Boost Copper Production
Zambia, in collaboration with the World Bank, has embarked on a strategic initiative to elevate the country’s annual copper production to three million metric tonnes, signaling a concerted effort to revitalize the economy and leverage its mineral wealth.
Speaking at the Roadmap for Leveraging Zambia’s Energy Transition Mineral Endowment for Economic Transformation Workshop in Lusaka, Finance and National Planning Minister, Situmbeko Musokotwane, unveiled plans for this ambitious endeavor.
He emphasized the importance of value addition, citing a robust market demand poised to drive Zambia’s copper industry forward.
“Despite the passage of time, copper retains its intrinsic value reminiscent of the 1970s. It is imperative to bolster production to catalyze economic transformation,” remarked Dr. Musokotwane, underlining the significance of this initiative.
Echoing the sentiment, Wendy Hughes, the World Bank Regional Director for Infrastructure, Eastern and Southern Africa, reiterated the organization’s unwavering support for Zambia’s developmental goals.
Meanwhile, Mines and Minerals Development Minister, Paul Kabuswe, underscored the necessity for alignment between the Energy Transition Minerals roadmap and the Critical Minerals Strategy to address prevailing challenges in the mining sector.
“Addressing unsustainable mining practices and enhancing investments in renewable energy are pivotal aspects that necessitate immediate attention,” emphasized Mr. Kabuswe, conveyed through Ministry Permanent Secretary, Hapenga Kabeta, highlighting the multifaceted approach required to navigate Zambia’s mining landscape effectively.
