Zambia’s Mining Ranking Gain Points to Stronger Economic Growth
Zambia has recorded a notable improvement in its global mining investment ranking, strengthening its position among Africa’s leading mining destinations.
According to the 2025 Annual Survey of Mining Companies by the Fraser Institute, Zambia has risen to 25th globally on the Investment Attractiveness Index (IAI), improving from 28th in the previous survey cycle. The country scored 72.84, reflecting stronger investor confidence in both its mineral potential and policy environment.
The survey assessed 68 jurisdictions worldwide, examining mineral potential alongside policy conditions influencing exploration investment. Within Africa, Zambia now ranks third, behind Botswana and Morocco.
The survey was conducted between August and November 2025, with participation from 256 mining executives representing companies with combined exploration spending of US$4.2 billion.
Zambia also recorded progress on the Policy Perception Index (PPI), rising to 30th globally with a score of 74.96, compared to 38th previously. The improvement reflects stronger investor sentiment regarding regulatory stability, governance predictability and macroeconomic management.
Meanwhile, under the Best Practices Mineral Potential Index, which assumes globally competitive policy standards, Zambia scored 71.43, ranking 20th globally and sixth in Africa. The results reaffirm the competitiveness of Zambia’s copper, cobalt, gold and emerging critical mineral resources.
Minister of Finance and National Planning Situmbeko Musokotwane said the improved ranking reflects reforms undertaken by the government under the leadership of President Hakainde Hichilema.
“These results did not emerge by coincidence. They are anchored in the vision and leadership provided by the President, whose emphasis on macroeconomic stabilisation, debt sustainability and private sector-led growth has shaped the reform architecture guiding economic managers,” Dr Musokotwane said.
He added that policy consistency and predictable economic management have already attracted approximately US$12 billion in mining investment since 2021, noting that investor confidence continues to strengthen.
Dr Musokotwane further emphasised that Zambia remains committed to achieving its target of producing 3 million metric tonnes of copper by 2031, stating that the goal requires policy continuity, reliable energy supply, efficient licensing systems and sustained macroeconomic stability.
The Minister said Zambia’s improved global ranking validates ongoing reforms and reflects growing international confidence in the country’s economic direction.
However, the survey also highlighted areas requiring continued attention, including trade-related processes, security perceptions and labour regulatory clarity.
Government officials say addressing these issues will remain part of ongoing reforms aimed at sustaining investor confidence and expanding mining production in the coming years.
