MINING
GOAL: Increase geological data coverage from 55% to 100% by November 2024 and increase copper production to 3 million tonnes per annum by 2031.
PROGRESS SO FAR: The government has attracted significant investments since taking office, which will bring various benefits. Such investments will not only enhance production but also generate jobs, increase revenues for public services, benefit local communities, and create opportunities for local businesses.
First Quantum Minerals (FQM) has invested $1.25 billion to expand the Kansanshi Copper Mine.
Barrick Gold is contributing $2 billion to boost copper production at Lumwana mine.
The Enterprise Nickel Mine, Africa's largest nickel producer, received $100 million and opened in July 2022.
KoBold Metals, backed by Bill Gates and Jeff Bezos, is investing $150 million in AI-driven mineral deposit identification at Mingomba on the Copperbelt.
Musamu Resources, a Zambian-owned company, inaugurated the Luongo Musamu Manganese Mine in Luapula Province and plans to invest $20 million yearly to produce 1 million tonnes of manganese.
