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All eyes on Zambia at the 2024 Mining Indaba

Zambia took center stage at the recent Investing in African Mining Indaba held at Cape Town’s International Convention Centre, where President Hakainde Hichilema led a delegation to promote the country’s mining sector and highlight investment opportunities.

President Hichilema opened the event by reaffirming Zambia’s commitment to attracting investment with the “Invest with Confidence” message. 

He emphasized the significant investments made in the mining sector since his election in 2021, including over $4 billion in projects such as First Quantum Minerals’ S3 expansion of the Kansanshi mine.

Exciting announcements further bolstered Zambia’s presence at the Indaba, with President Hichilema commending KoBold Metals’ discovery of Zambia’s largest copper deposit in a century at its Mingomba project. 

Additionally, Anglo American expressed interest in potential acquisitions in Zambia, signaling confidence in the country’s mining potential.

Zambian attendees at the event shared their enthusiasm for forging new partnerships and exploring opportunities for value addition in the mining sector. 

Dr. Sixtus Mulenga, owner of Musamu Resources, discussed plans for an integrated mining operation with a focus on beneficiation. Other companies, such as Kariba Minerals, showcased their efforts in value addition by displaying locally made jewellery.

Financial institutions also expressed optimism about Zambia’s mining sector, with representatives from Zanaco and Stanbic highlighting the country’s growth potential and the importance of financing infrastructure and energy projects to support mining operations.

The event provided a platform for networking and collaboration, attracting interest from investors, partners, and suppliers from around the world. 

Mr. Kakenenwa Muyangwa, ZCCM-IH Board Chair, noted a resurgence of interest in Zambia from investors who previously overlooked the country.

Overall, Zambia’s participation in the Mining Indaba demonstrated its commitment to fostering a conducive environment for mining investment and development. 

With promising projects on the horizon and growing interest from international stakeholders, Zambia is poised to play a significant role in meeting global demand for copper and other minerals.

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