Zambia’s Mining Sector Shows Positive Growth but Requires More Strategic Interventions – Economic Expert
Zambia’s mining sector has demonstrated a promising turnaround, with renowned economic expert Kelvin Chisanga highlighting the sector’s resilience and policy-driven improvements.
Speaking on the country’s mining performance, Mr. Chisanga noted that despite a 20% production decline in 2023, the 12% growth recorded in 2024 signals strong policy commitment and unwavering support from key stakeholders.
“The positive growth can largely be attributed to the government’s efforts in resolving legacy challenges at Mopani Copper Mine and Konkola Copper Mine,” Mr. Chisanga stated.
He emphasized that key players such as Barrick Gold and First Quantum Minerals, alongside other industry participants, have played a crucial role in driving growth despite ongoing challenges in the energy sector.
According to Mr. Chisanga, Zambia’s mining industry has shown remarkable resilience, bolstered by government interventions and strategic investments. However, he pointed out the need for more targeted support for small-scale miners.
“It’s critical to develop aggregation models that can help small-scale miners increase production levels and contribute more significantly to the sector,” he advised.
He further stressed the importance of accelerating the ongoing geo-mapping processes and addressing mining cadastre challenges to facilitate better resource management and exploration.
“Efforts must be expedited to enhance mineral processing and achieve faster value addition, aligning with Zambia’s target of producing 3 million metric tons,” Mr. Chisanga added.
On the regulatory front, Mr. Chisanga underscored the need to maintain the current tax regime while addressing issues related to export tracking and tax compliance, particularly in relation to Rule Number 18.
Concluding his analysis,Mr. Chisanga expressed optimism about the sector’s future, stating that sustained policy enhancements, debt resolution, and investor determination could lead to increased capital inflows and improved foreign exchange reserves, ultimately contributing to national economic stability.
“The mining sector’s growth trajectory, backed by strategic planning and collaborative efforts, can drive Zambia’s broader economic ambitions,” he concluded.
