Zambia is actively seeking international investors, including from the United States, as it sets an ambitious goal to increase copper output to 3 million metric tons by 2031, Mines Minister Paul Kabuswe said on Tuesday, according to Reuters.
Last year, Africa’s second-largest copper producer after the Democratic Republic of the Congo produced 890,346 tons, falling short of its 1 million-ton target.
Copper remains critical for electric vehicles and renewable energy technologies, making Zambia a strategic player in the global low-carbon transition.
Kabuswe noted that investment discussions are ongoing with multiple countries. “The U.S. is part of it,” he said, without revealing details of any specific negotiations.
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Separately, Zambia is in talks with Washington over a health aid package exceeding $1 billion. Some health advocates have raised concerns that the funds could be tied to mining access or data-sharing agreements.
Kabuswe dismissed such claims, stating, “There is nothing linked to anything,” and emphasizing that Zambia negotiates carefully on all matters.
Highlighting the importance of equitable deals, he added, “Investors must also take their share. It has to be a win-win situation for Zambia and for the investors.”
Zambia’s mineral wealth extends beyond copper, including significant deposits of cobalt, nickel, manganese, graphite, lithium, and rare-earth elements.
Key mining companies operating in the country include China’s JCHX Mining, Canada’s Barrick Gold and First Quantum Minerals, India’s Vedanta Resources, the UAE’s International Resources Holding, and KoBold Metals, backed by U.S. investors.
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Image Credit: Reuters
