7 September 2026
Zambia is positioning itself for a new wave of mining investment as international companies increasingly turn their attention to the country’s copper and critical-minerals potential.
The latest signal came from the Africa Down Under 2026 conference in Perth, where Zambia's mining delegation held discussions with major global mining groups including BHP, Fortescue and Teck Resources.
Zambia's country showcase at the three-day conference, held from 2 to 4 September, was reportedly oversubscribed, highlighting growing international interest in the country's mining sector.
Permanent Secretary in the Ministry of Mines and Minerals Development, Dr Hapenga Kabeta, said the discussions went beyond promoting Zambia's mineral potential and focused on capital, technology and partnerships.
“We are not simply marketing potential. We are having substantive conversations about capital, technology and partnership.”
Targeting 3 million tonnes of copper
At the centre of Zambia's investment drive is an ambitious government target to increase annual copper production to 3 million metric tonnes by 2031.
The International Energy Agency says Zambia's national copper strategy is designed to expand production, encourage exploration and processing, improve the mining value chain and attract investment into both existing and new projects.
Government data shows Zambia produced about 820,000 tonnes of copper in 2024, while the country expects production to exceed one million tonnes. Major operations including Konkola Copper Mines and Mopani have also returned to production.
Billions of dollars on the table
Zambia says it has attracted more than US$12 billion in mining investment commitments since 2021.
Major projects include First Quantum Minerals' expansion at Kansanshi and Barrick's planned expansion of the Lumwana copper mine. KoBold Metals is also developing the Mingomba copper project, with the company targeting production in the early 2030s.
The growing investment interest is not limited to traditional Western mining companies.
India returns to the table
India has also resumed discussions with Zambia over potential investments in copper and other critical minerals.
Reuters reported that officials from India's Ministry of Mines met their Zambian counterparts on 26 August as New Delhi looks to secure long-term supplies of minerals needed to support its growing economy.
The talks underline Zambia's increasingly strategic position in the global competition for copper and other minerals needed for energy, manufacturing and technology.
The processing challenge
However, Zambia's mining boom also presents a major policy challenge: ensuring that more of the economic value from its minerals is captured domestically.
A temporary waiver on Zambia's 10% copper concentrate export duty is due to expire on 30 September. The waiver currently covers more than 271,000 tonnes of copper concentrate from six producers and was introduced amid constraints affecting domestic processing.
For Zambia, expanding mines is therefore only one part of the equation. The bigger opportunity could be developing processing, refining, manufacturing and mining-services industries around the country's copper resources.
From copper producer to critical-minerals hub
Zambia's challenge now is to convert investor interest into long-term projects that create jobs, infrastructure, technology transfer and greater local participation.
The country's upcoming Zambia Mining and Investment Insaka, scheduled for 19–23 October, is expected to provide another platform for investors and government to advance those discussions.
With global demand for copper expected to remain strategically important for electrification, renewable energy and advanced manufacturing, Zambia is seeking to turn its mineral wealth into a broader economic transformation.
The race is no longer simply about who can extract Zambia's copper.
It is increasingly about who will help build the industrial economy around it — and how much value Zambia itself captures along the way.
