Zambia’s Mineral-Rich Copperbelt Seeks New Investment
Zambia’s economy hinges significantly on copper production, with the Copperbelt region, spanning the border between Zambia and the Democratic Republic of Congo (DRC), serving as its mainstay.
This mineral-rich area contributes 90% to the country’s GDP and employs the majority of its populace, generating about 70% of national revenue.
With over a tenth of the world’s copper reserves, Zambia ranks among the top global producers, aiming to boost production to 3 million tons by 2032.
Critical mineral supply chains have become focal points for development partnerships. Last October, Zambia and the DRC inked strategic Memoranda of Understanding (MoUs) with the EU Commission to foster cooperation in various areas, including infrastructure development and skills enhancement.
Moreover, initiatives like the Lobito Transport Corridor aim to connect the region’s mining belts to international markets, bolstering its position as a key global minerals supplier.
The establishment of special economic zones (SEZs) for battery electric vehicle production, coupled with policies like the National Minerals Resource Development Policy, underscores Zambia’s commitment to sustainable mining practices and economic growth.
Leading large-scale mining projects further amplify Zambia’s mineral potential. The Kansanshi copper mine, the largest in Africa, is set for expansion, promising increased production.
Similarly, the Sentinel and Lumwana copper mines, alongside operations by Konkola Copper Mines, further cement Zambia’s position in the global copper market.
Through strategic partnerships, sustainable policies, and ambitious mining projects, Zambia aims to harness its mineral wealth for economic prosperity and sustainable development.
