Hichilema Says Over US$12bn Invested in Zambia’s Mining Sector
President Hakainde Hichilema says more than US$12 billion has been invested in Zambia’s brownfield and greenfield mines since 2022, highlighting renewed investor confidence in the country’s mining sector.
The President made the remarks in a keynote address at the Investing in African Mining Indaba in Cape Town, which opened on Monday and runs until Thursday under the theme “Stronger together: Progress through partnerships.”
President Hichilema said the Government has prioritised transparency, institutional reform and data-driven decision-making to attract sustainable mining investment.
He revealed that Zambia is undertaking a high-resolution national geo-physical survey for the first time in 50 years, fully financed by the Government, to establish an accurate understanding of the country’s mineral endowment.
“We are doing a high-resolution geo-physical survey at national level and the Government is paying for it. We want to know what minerals we are sitting on,” President Hichilema said.
He disclosed that the aerial mineral survey is about 55 percent complete, with exploration data expected to be made available to investors later this year, resulting in redefined national mineral maps.
President Hichilema said the Government has strengthened institutions critical to the mining industry, including the establishment of the Minerals Regulation Commission, which will streamline approval processes and improve overall governance in the sector.
He cited several major investments made since 2022, including First Quantum Minerals’ US$1.25 billion investment in Kansanshi Mine S3, Barrick Gold’s US$2 billion Lumwana super pit expansion, US$1.1 billion Mopani recapitalisation, US$1.25 billion recapitalisation of Konkola Copper Mines, and US$1.6 billion CNMC expansion in Luanshya.
The President noted that a mine in Luanshya, which had been out of operation for 23 years, is now back in production, while Kalengwa Mine in Mufumbwe District, which had been inactive for 47 years, has also resumed operations.
“These developments demonstrate the transformation taking place in our country,” President Hichilema said.
For greenfield projects, the President highlighted the Mingomba Mine in Chililabombwe, where over US$2 billion has been invested, as well as progress at the Kitumba Mine in Mumbwa District of Central Province.
He added that copper production increased by 12 percent in 2024, followed by an eight percent rise in 2025, placing Zambia on track to produce one million tonnes of copper annually.
President Hichilema emphasised the need for Africa to shift away from exporting raw materials, calling for increased value addition within the mining sector.
“Africa should not continue exporting raw materials as the main business. The mindset must change. The mining sector sits at the centre of Africa’s growth, and value addition is a key component,” he said.
