Zambia’s Country Focus Session Ignites Mining Indaba 2025
Zambia’s prominent participation at the 2025 Mining Indaba captured global attention, with a standing-room-only Country Showcase highlighting the nation’s strategic role in the mining sector. As Africa’s second-largest copper producer and a growing player in critical minerals such as cobalt and lithium, Zambia attracted investors eager to explore opportunities backed by progressive government policies.
Zambia unveiled an ambitious plan to boost copper production to 3 million tonnes annually by 2032. The government emphasized policy stability, fiscal incentives, and sustainable development as key pillars in positioning Zambia as a top-tier mining investment destination.
Finance Minister Dr. Situmbeko Musokotwane underscored the role of strong partnerships between financial institutions and the mining sector in driving sustainable growth. A networking event hosted by ZANACO facilitated high-level discussions, reinforcing investor confidence.
At a Zambian breakfast meeting, Stanbic Bank CEO Mwindwa Siakalima emphasized the role of collaborative solutions in tackling Zambia’s energy challenges. The bank, in partnership with Standard Bank of South Africa, facilitated a $55.5 million GreenCo Finance Solutions power emergency imports deal. Additionally, Stanbic underwrote a $96.7 million tranche of CEC Renewables’ Green Bond, supporting Zambia’s goal of increasing non-hydro renewable energy to 33% by 2030.
Kanona Power Company Limited outlined its mission to revolutionize Africa’s energy landscape through sustainable power solutions, aligning with Zambia’s broader economic growth and energy security goals.
KoBold Metals, an AI-driven mining firm backed by investors like Bill Gates and Jeff Bezos, announced a major copper discovery at the $2 billion Mingomba site, projected to yield 300,000 tonnes annually from the 2030s. With a $537 million funding round, KoBold aims to cement Zambia’s role in the global supply chain for critical minerals.
The U.S.-backed revival of the Lobito railway, linking the DRC, Zambia, and Angola, is expected to enhance mineral transport efficiency. KoBold has earmarked 40% of its new capital for developing Zambian operations.
Enpower, in collaboration with the International Finance Corporation (IFC), presented the Kalumbila-Kolwezi 700MW interconnector project, linking Zambia and the DRC. The IFC will facilitate financing, ensuring the project meets regional energy demands and supports mining operations.
ZANACO reaffirmed its commitment to Zambia’s mining sector, having facilitated $247 million in financing for mining projects over the past two years. CEO Mukwandi Chibesakunda highlighted the bank’s efforts in supporting both large-scale and artisanal miners, promoting economic diversification.
FNB Zambia showcased its tailored financial solutions aimed at supporting infrastructure projects, renewable energy investments, and mining operations, reinforcing its role in national economic development.
Mulenga Mundashi Legal Practitioners (MMLP) demonstrated its expertise in corporate legal services for the mining sector. The firm has advised major players, including KoBold Metals and First Quantum Minerals, on high-value transactions and regulatory compliance.
GreenCo emerged as a key energy player, securing a $55.5 million transaction with Stanbic Bank and First Quantum Limited. GreenCo’s regional expansion into South Africa, Zimbabwe, Namibia, and the DRC positions it as a leader in power trade, stabilizing grids and supporting industrial growth.
The closing reception of the Mining Indaba, attended by South Africa’s Minister of Electricity and Cape Town’s Mayor, emphasized Africa’s role in shaping global energy policies. With South Africa representing the continent at the G20, discussions emphasized regional cooperation to ensure Africa’s resources drive sustainable development.
