Mimbula Minerals Expands Copper Production with New Plant Investment

Mimbula Minerals is investing $250 million in a new copper cathode plant in Chingola, Zambia, which will boost its annual output from 16,800 tonnes in 2024 to 60,000 tonnes upon completion next year. The expansion is expected to create 200 new local jobs, according to Mine Director Fidelis Chanda.

Since beginning operations in 2022 with an initial $200 million investment, Mimbula has increased its monthly copper output from 900 tonnes to 1,400 tonnes. The company anticipates reaching 5,000 tonnes per month once the new facility becomes operational between 2025 and 2026.

Mimbula maintains one of Zambia’s lowest production costs at $2,000 per tonne by utilizing heap leaching, an efficient and cost-effective mining method. The company aims to support Zambia’s national goal of achieving three million tonnes of copper production annually. Additionally, it is exploring cobalt mining as part of its long-term diversification strategy.

Recent figures from Zambia’s mines minister Paul Kabuswe indicate that national copper production increased by 12% to 820,676 tonnes in 2024, up from 732,583 tonnes in 2023. This growth, despite power disruptions due to drought, reflects the government’s commitment to fostering a favorable investment environment and achieving its target of one million tonnes of copper production this year.