Zambian Copper Production Soars 12% in 2024 Amid Resurgence of Major Mines

Zambian Copper

In 2024, Zambia experienced a significant increase in copper production, with a 12% rise compared to the previous year, as major mining operations resumed. Mines and Minerals Minister Paul Kabuswe highlighted the resumed activities at key sites as pivotal to this growth, despite challenges such as energy shortages due to drought affecting hydroelectric power supplies.

Revitalization of Major Copper Mines

The surge in production was primarily fueled by the reactivation of operations at the Mopani underground copper mine. This followed the acquisition of a 51% stake by International Resources Holding from Abu Dhabi, marking a significant turnaround in the mine's output. Additionally, operations recommenced at Konkola Copper Mines (KCM), following the resolution of an ownership dispute with UK-based Vedanta Resources, which has now committed $1.3 billion to rejuvenate the mine over the next five years.

Expansions and New Investments Set to Boost Future Output

Further boosting the sector's prospects, Barrick's Lumwana copper mine began the development of a super pit expected to double its production capacity to 240,000 tons per year upon completion. Moreover, KoBold Metals, a company leveraging artificial intelligence in mining and backed by US investors, plans to invest $2 billion in a new copper project, signaling robust confidence in Zambia's copper industry's future.