✅ The President emphasized that several investments made in the mining industry are already paying off.

✅ He announced that First Quantum Minerals (FQM) has invested US$100 million in Enterprise Nickel Mine -Africa’s largest nickel producer.

✅ First Quantum Minerals is also investing over US$1 billion to expand the Kansanshi mine and smelter in S3, which is helping to improve downstream beneficiation.

✅ He indicated that Moxico Resources began production at its Mimbula Mining project in March 2023, and during the first nine months of operation, the project produced 6,000 tons of Copper.

✅ The President noted that Kobold Metals, which uses Pioneering Artificial Intelligence, AI technology, has made significant progress in defining the orebody at its Mingomba project, following a $150 million investment in 2022.

✅ He further noted that Barrick Gold Corporation has doubled down on its commitment with a $2 billion investment to expand its Lumwana Mine into a ‘super-pit’, capable of producing 240,000 tons of copper per year when it comes online in 2028.

✅ China Non-Ferrous Mining Corporation has pledged US$1.3 billion investment over the next five years for its various operations in Zambia, including US$600 million reopening of shaft 28 at the Luanshya copper Mines, on the Copperbelt.

✅ The President reiterated government’s commitment to making Zambia a reliable investment partner of choice on the African continent.

✅ He indicated that the New Dawn Administration has made substantial progress in resolving issues around Mopani Mine and Konkola Copper Mines.

✅ Government is grateful to International Resource Holding and Vedanta Resources, for the combined US$2.3 billion investment they have committed to providing, in order to fulfill the potential of these two national assets

✅ Government has made significant efforts to support the Gemstone Sector and, in particular, Emeralds, where Zambia has become the world’s largest producer of this precious stone.

✅ He encouraged diversification through mineral exploration exercise so as to confirm resources in rare earths, lithium, gold, manganese, graphite, Sugilite, and diamonds.
Energy and Transport Sector

✅ He indicated that Government is working with local and international partners to boost Zambia’s energy and transport infrastructure, which will help to support the country’s bold mining ambitions.
These projects include:

  1. The US$2.2 billion Kafue Gorge Lower Power Station; the UK- Zambia Green Growth Compact, opening up US$3 billion in private sector and government funding for renewable energy projects across Zambia.
  2. The Copperbelt Energy Company US$200 million Green Bond issued – to finance solar, wind and other renewable energy in Zambia.

✅ He also noted that Government has opened up the energy market to private sector players through the open access regime and facilitated off-taker guarantee financing, allowing mining companies to finance captive power to fuel their expansion projects.

✅ Government has further lined up infrastructure projects like the Zambia – Lobito rail line and the upgrading of TAZARA railway line to provide a smoother route to markets for mining operations based in, Zambia.

✅ The President has since called for investment partnerships to power new, green, African future: helping the world to meet its climate targets and usher in a new era of industrialisation for Africa, and the global community.


  1. Thank you for spurring investment in this critical sector. However, it’s annoying that successive govts have failed to accrue tangible benefits that trickle down to the Zambian masses and implement windfall taxes on mining houses and yet PF allowed a Glencore to collect windfall gains/royalties from future investor in Mopani. If the copper price exceeds 12000usd/ ton. This is tantamount to allowing a private company to collect mineral resource rent from a sovereign state. What is wrong with us Zambians kanshi? The biggest problem is that we use hastily arranged team of civil servants in negotiations with well resourced mining houses who assemble multi disciplinary negotiating team consisting of tax accountants, engineers lawyers etc. We need to change our mindset and approach. For example the mining houses met and strategized on how to gain from gullible African governments prior to the on going mining indaba in cape town. The will again gather and do a thorough postmortem of the current indaba and immediately start plotting their follow up actions to maximize their gains. For us it more conferences to offer even more incentives and leaving our country with peanuts and debt. TRANSFER PRICING, DISCRIMINATION in compensation between expatriates and local employees need to be addressed. I am tired of this babazonke mentality. It has to end. I will not pretend to have all the answers but for a start, can we have laws on how we conduct negotiations for national assets . The laws need to outline objectives, composition of negotiating teams/commissioners, reporting structure etc. This may help to curtail the reckless, casual, chipantepante approach to negotiations with foreign entities. BABAZONKE TO FOREIGNERS MUST END

  2. There is over reliance on the belief that FDI is the silver bullet to African prosperity. No. After 60 years of independence and 30 years of neocolonial liberalization, why are we still poor. Let’s build our own millionaires and billionaires so that the wealth from our abundant resources will be internalized not externalized as has been the case since the arrival of Europeans on the subcontinent 500 years ago.

  3. Foreign investor don’t vote to establish African governments. It’s the core role of our leaders to invest in the people who vote to make them into entrepreneurs, engineers etc. Investment can be in many forms such as opportunities, finance, tax incentives, laws that compel foreign investors to partner with local Zambians etc. It’s very painful to see the people who vote to establish our government get displaced in simple business like block making by investors all the way from Turkey. Those women who use to travel to Thailand and China displaced by Chinese malls/traders. Gold discovered in mpika and it must be handed over to Canadians. What is in there/here for us? We cannot all be cadres and politicians!!! Neither are we thieves/looters. But Zambian entrepreneurs always get the rug pulled from under their feet.


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