Zambia, Africa’s second-largest copper producer, is forecast to increase its copper output to 1 million metric tons in 2025, up from 820,000 tons in 2024. Finance Minister Situmbeko Musokotwane attributed the growth to the revival of key mining operations, including Lubambe, Luanshya, and Kalengwa mines. This marks a significant recovery for Zambia’s mining sector, which has faced challenges in recent years.
The government has set an ambitious long-term target of producing 3 million tons annually by 2035. Achieving this goal will require substantial investment from both domestic and international mining companies. Major players like First Quantum Minerals and Barrick Gold are investing billions to expand production capacity at mines such as Kansanshi and Lumwana. First Quantum’s Kansanshi mine alone is undergoing a $1.25 billion expansion to boost annual production from 250,000 tons to 400,000 tons by 2027.
Zambia’s renewed focus on copper production aligns with its broader economic strategy to leverage mineral wealth for sustainable development. The government has introduced reforms such as a sliding-scale mineral royalty tax system tied to global copper prices, which has improved investor confidence and attracted an estimated $1.5 billion in new investments. Efforts to stabilize energy supply through projects like the Kafue Gorge Lower Hydroelectric Plant have also supported the energy-intensive mining sector.
Despite these advancements, challenges remain. Analysts warn that geopolitical tensions and fluctuating global demand could impact Zambia’s ability to meet its targets. However, with ongoing modernization efforts and strategic partnerships with Gulf nations like Saudi Arabia and the UAE, Zambia is positioning itself as a key player in global copper markets.
