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Zambia, Africa’s second-largest copper producer, aims to boost copper production to one million metric tons by the end of 2025, up from 820,676 metric tons last year. This increase is part of a strategic plan led by Finance Minister Situmbeko Musokotwane, which includes expanding existing mines, reopening dormant sites, and establishing new operations, supported by a USD 6 billion investment.
This growth is expected to enhance Zambia’s GDP, create jobs, and stimulate ancillary industries while also improving the trade balance and currency stability through increased copper exports. The government anticipates rising revenues from mining royalties and taxes, allowing for more infrastructure and social investments.
The mining sector’s revitalization coincides with structural reforms aimed at improving regulatory transparency and attracting foreign investment. Notably, Zambia has managed a 4% economic growth rate in 2024 despite drought conditions, indicating that policy changes are taking effect.
Zambia’s copper push aligns with global demands for renewable energy and electric vehicles, positioning the country to play a key role in future supply chains. The planned investment will involve both state and private capital, emphasising the need for transparent engagement with investors and local communities.
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In summary, Zambia’s projected increase in copper production represents a significant step in its economic development, fostering employment, innovation, and integration into regional and global markets.
