ZCCM-IH Invests $50M in Phosphate Project to Boost Local Production
Zambia Consolidated Copper Mines – Industrial Holdings (ZCCM-IH) has invested $50 million in a phosphate project aimed at reducing the country’s dependency on imports and diversifying its mineral portfolio.
The project will establish a mono ammonium phosphate (MAP) plant with a production capacity of 300,000 metric tons annually, along with 750,000 metric tons of gypsum as a byproduct.
ZCCM-IH Corporate Affairs Manager Loisa Mbatha confirmed the development in an exclusive interview with Mafken News. She said the investment is a first of its kind in southern Africa and marks a major step in the company’s efforts to move beyond copper.
“This is a strategic investment. It helps us reduce exposure to copper market fluctuations and seize new opportunities in the fertilizer and chemical industries,” Mbatha stated.
ZCCM-IH will hold a 30% stake in the project, contributing $15 million in equity and $12 million through debt financing. The remaining investment is expected to come from private sector partners.
Ms. Mbatha highlighted that Zambia currently imports all its phosphate for fertilizer and detergent manufacturing. The plant will support import substitution and stimulate local economic growth.
