Zambia Seeks Global Investment to Triple Copper Production by 2031
Zambia Targets 3 Million Tons of Copper by 2031 as Government Courts Global Investors
Zambia is actively courting international investors, including those from the United States, as it works toward an ambitious goal of tripling its copper production to 3 million metric tons by 2031, Mines Minister Paul Kabuswe said on Tuesday.
Africa’s second-largest copper producer after the Democratic Republic of the Congo is increasingly viewed as a strategic partner for the United States. Washington has been stepping up efforts to diversify supply chains for critical minerals and reduce reliance on China for materials essential to advanced manufacturing.
According to government data, Zambia produced 890,346 metric tons of copper in 2025, falling short of its annual target of 1 million tons. Copper is a vital component in electric vehicles and renewable energy systems, making it central to the global transition toward a low-carbon economy.
Kabuswe said Zambia’s investment outreach extends to multiple countries as part of a broader strategy to achieve its 2031 production target.
“The US is part of it,” he said, declining to provide details of specific discussions.
At the same time, negotiations are reportedly underway between Lusaka and Washington over a health aid package valued at more than $1 billion.
Some health advocacy groups have raised concerns that the funding could be tied to access to mining resources and involve sensitive data-sharing arrangements.
However, Kabuswe dismissed suggestions that the proposed health funding is linked to mining cooperation.
“There is nothing linked to anything,” he told Reuters when asked about the issue, adding that Zambia remains cautious in all negotiations. “Zambia is very mindful when seated at the table to negotiate on any matter.”
The minister emphasized that investment agreements must be balanced and mutually beneficial.
“It has to be a win-win situation for Zambia and for the investors,” he said, noting that while the country welcomes foreign investment, companies must also share fairly in the risks and rewards.
Beyond copper, Zambia possesses significant reserves of other critical minerals, including cobalt, nickel, manganese, graphite, lithium and rare earth elements.
Major mining companies operating in the country include JCHX Mining, Barrick Gold, First Quantum Minerals, Vedanta Resources, International Resources Holding and KoBold Metals, reflecting Zambia’s growing role in the global critical minerals supply chain.
