Zambia Attracts Major Mining Investments as Sector Expands with Uranium, Copper, and Clean Energy Projects

Zambia Attracts Major Mining Investments as Sector Expands with Uranium, Copper, and Clean Energy Projects

Zambia’s mining sector is experiencing a surge in international interest and investment, as three major developments unfold, promising to bolster the country’s economic prospects and solidify its role in the global energy transition.

Namibia’s Swakop Uranium, one of Africa’s prominent uranium producers, is exploring a strategic partnership with Zambia to tap into the country’s untapped uranium reserves. In early April, the company’s Executive President, Mr. Irvine Simataa, led a delegation that met with Dr. Hapenga Kabeta, Permanent Secretary at the Ministry of Mines and Minerals Development.

The meeting focused on potential Greenfield mining opportunities, with both parties expressing optimism about future collaboration. If successful, the partnership would unlock new investment streams and diversify Zambia’s mineral output beyond copper, signaling a significant step forward in nuclear energy development and clean power solutions.

Canadian mining giant Ivanhoe Mines has officially launched exploration activities in Zambia following a new agreement with the government. Known for its large-scale, sustainable mining operations across Africa, Ivanhoe aims to uncover new deposits of copper and other critical minerals essential for the clean energy economy.

Minister of Mines and Minerals Development, Paul Kabuswe, announced the agreement during a tour of major mining sites in the Copperbelt. “This partnership represents a multi-billion-dollar opportunity for Zambia and reaffirms our commitment to becoming a hub for critical minerals,” Kabuswe stated.

Meanwhile, in Central Province’s Mumbwa District, Sinomine Kitumba Minerals has commenced operations on a $600 million open-pit copper mine. The project includes an integrated 50-megawatt solar power plant and is expected to create 2,500 jobs while producing 50,000 tonnes of refined copper annually.

“This launch brings us closer to our target of producing 3 million tonnes of copper annually by 2031,” said Minister Kabuswe during the inauguration. The project is anticipated to be a model for environmentally responsible mining, aligning with Zambia’s push for renewable energy in mining operations.

Permanent Secretary in the Ministry of Information and Media, Thabo Kawana, emphasized that mining remains a pillar of Zambia’s economy, contributing significantly to GDP, exports, and employment. He outlined key reforms including:

Enactment of the Mineral Regulation Commission Act. Introduction of the Geological Development Bill.

A nationwide aerial geological survey initiated in 2024 to boost investor confidence.

Additionally, over 250 gold and non-gold cooperatives have been licensed, and new mineral trading centers are under construction in Mumbwa and Rufunsa to support the growth of small-scale and artisanal mining.

With strategic partnerships forming, new mines launching, and reforms taking root, Zambia is positioning itself as a key player in Africa’s mining future. These developments underscore the country’s commitment to harnessing its mineral wealth sustainably, while attracting global investors eager to support the transition to a greener, more resilient global economy.

May 4, 2025
KUMWESU