Zambia, Britain reach understanding for responsible development of mining industry

Zambia is set to sign an agreement to generate $3.17 billion of British private sector investment in the mining, minerals and renewable energy sectors.

This would be done alongside 500 million pounds of British government-backed investments.

Reuters on Thursday said Britain agreed deals with Zambia on clean energy and critical minerals as country’s Foreign Minister, James Cleverly, ended a four-day visit to Africa to deepen ties.

The agreement was expected to lay the foundation for further United Kingdom support for the responsible mining of copper, cobalt and other metals essential to the global clean energy transition.

Cleverly would visit Zambia and sign a memorandum of understanding (MoU) on critical minerals.

“The United Kingdom-Zambia Green Growth Compact and our landmark agreement on critical minerals will support investment between UK and Zambian business, creating jobs in both countries,” Cleverly said.

Zambia is a major copper producer, and also has deposits of critical minerals such as cobalt, manganese and nickel.

Last year Britain emphasised the importance of diversifying its supply chains in a critical mineral strategy.

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