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President Hakainde Hichilema has underscored the pivotal role of the mining sector in driving Zambia’s economic growth, job creation and revenue generation during his parliamentary address on Friday.
He reaffirmed his administration’s commitment to achieving a target of three million tonnes of copper production by 2031.
Hichilema reported significant progress, noting that major issues at Mopani Copper Mine (MCM) and Konkola Copper Mines (KCM) had been resolved, allowing the companies to resume operations.
He highlighted International Resources Holdings’ (IRH) US$1.1 billion investment in Mopani, which he said had transformed the mine’s operations.
Vedanta Resources was also expected to invest US$1.2 billion, with US$250 million allocated to clear arrears owed to contractors, suppliers and local authorities.
Further, China Nonferrous Metal Mining Corporation (CNMC) had started a US$500 million investment to revive production at the 28 Shafts in Luanshya, with de-watering underway, he said.
Hichilema also outlined new Greenfield projects, including Sinomine’s US$600 million Kitumba mining project in Mumbwa District.
Additionally, Kobold Metals and ZCCM Investment Holdings are developing the US$2 billion Mingomba mine in Chililabombwe, and Barrick Lumwana is investing US$2 billion in the Super Pit in North-Western Province, set to be commissioned this year, the president said.
Hichilema emphasized the importance of a high-resolution aerial geophysical survey to better map mineral and groundwater deposits, which would enhance the market value of Zambia’s resources and attract further investment.
Addressing concerns about illegal mining, Hichilema stressed the government’s readiness to issue mining licenses to Zambians and facilitate access to credit to meet safety standards, aiming to mitigate the risks and security threats posed by illegal mining activities.
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