Zambia Emphasizes Copper Production Growth to 3 Million Tonnes by 2032 At Mining Indaba
Zambia made a commanding statement at the 2025 Mining Indaba, drawing global attention with a packed Country Showcase that underscored its rising influence in the mining sector.
As Africa’s second-largest copper producer and an emerging hub for critical minerals like cobalt and lithium, Zambia positioned itself as a premier investment destination, backed by stable policies and ambitious production targets.
The Zambian government laid out an aggressive plan to ramp up copper output to 3 million tonnes per year by 2032. Finance Minister Dr. Situmbeko Musokotwane emphasized the nation’s commitment to policy consistency, fiscal incentives, and sustainable mining practices to attract long-term investment.
In a high-profile networking event hosted by ZANACO, key financial institutions and mining executives explored collaborative strategies to drive industry growth.
Stanbic Bank CEO Mwindwa Siakalima spotlighted energy security as a critical enabler, revealing that Stanbic, alongside Standard Bank of South Africa, facilitated a $55.5 million emergency power deal through GreenCo Finance Solutions.
The bank also underwrote a $96.7 million tranche of CEC Renewables’ Green Bond, aligning with Zambia’s goal of increasing non-hydro renewable energy to 33% by 2030.
Kanona Power Company Limited further reinforced Zambia’s energy ambitions, outlining its mission to reshape Africa’s power landscape with sustainable solutions.
KoBold Metals: AI-Driven Copper Exploration
Tech-backed mining firm KoBold Metals, supported by investors like Bill Gates and Jeff Bezos, announced a significant copper discovery at the $2 billion Mingomba project.
Expected to yield 300,000 tonnes annually from the 2030s, the project has secured $537 million in funding, with 40% earmarked for advancing Zambian operations.
Meanwhile, the U.S.-backed revival of the Lobito railway, connecting Zambia, the DRC, and Angola, is set to revolutionize mineral transportation, enhancing regional trade efficiency.
Infrastructure, Legal, and Financial Support for Mining
The Kalumbila-Kolwezi 700MW interconnector, a collaboration between Enpower and the International Finance Corporation (IFC), will strengthen cross-border energy supply, supporting mining operations in Zambia and the DRC.
ZANACO reaffirmed its commitment to the mining sector, having facilitated $247 million in financing over the past two years to support both large-scale and artisanal miners. FNB Zambia also showcased its tailored financial solutions for infrastructure, energy, and mining investments.
Mulenga Mundashi Legal Practitioners (MMLP) demonstrated its expertise in corporate legal services, advising industry giants like KoBold Metals and First Quantum Minerals on high-value deals and regulatory compliance.
GreenCo’s Expansion in the Energy Market
GreenCo emerged as a key player in Zambia’s energy transition, securing a $55.5 million deal with Stanbic Bank and First Quantum Limited.
The company’s regional expansion into South Africa, Zimbabwe, Namibia, and the DRC positions it as a driving force in stabilizing power grids and supporting industrial growth.
Africa’s Mining Future on the Global Stage
The Indaba’s closing reception, attended by South Africa’s Minister of Electricity and Cape Town’s Mayor, reinforced Africa’s pivotal role in shaping global energy policy.
With South Africa representing the continent at the G20, discussions focused on regional cooperation to ensure Africa’s vast resources drive sustainable development and long-term prosperity.
Zambia’s dynamic presence at the 2025 Mining Indaba signaled its intent to not only lead Africa’s mining renaissance but to cement its status as a global mining powerhouse.
