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The Industrial Development Corporation (IDC) has signed a Memorandum of Understanding (MoU) with South Africa-based Mercuria Energy Trading to enhance Zambia’s capacity in global commodity trading.
This collaboration seeks to create a platform to market and trade Zambian copper, leveraging mutual strengths to position Zambia as a significant player in international markets.
This is according to IDC Chief Executive Officer, Cornwell Muleya, at the signing ceremony of the partnership in Lusaka on Thursday at the IDC offices.
Represented by Chief legal officer, Leya Ngoma, Muleya explained that the partnership aimed to train Zambians in commodity trading, risk management, and financial operations.
“This collaboration seeks to create a platform to market and trade Zambian copper, leveraging mutual strengths to position Zambia as a significant player in international markets,” he said.
Muleya added that the partnership would activate IDC’s shares in local mining entities, diversify Zambia’s economy, and generate new revenue streams.
“It will also create opportunities across sectors such as logistics, trading, and support services. Profits from this initiative will directly benefit Zambia’s economy, supporting infrastructure development and social programmes,” he said.
Mercuria, a leader in commodity trading operating in over 50 countries, will contribute its expertise and robust financial backing to the venture.
Its Head of Metals and Minerals, Kosta Bintas, said Zambia played a vital role in global energy resources.
“We are honoured to partner with Zambia to establish independent capacity to commercialize its significant mineral resources,” he said.
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