Zambia has launched a national geological mapping program to better understand its mineral resource deposits and untapped potential. Spearheaded by the government, the survey aims to promote mineral exploration in the country by quantifying resources and supporting strategic investments, with a view to capitalizing on the growing global demand for critical minerals.
Speaking at a mining conference in Cape Town on Monday, Zambian President Hakainde Hichilema stated that “by 2040, an additional nine million tons of copper will be required each year to keep up with the pace of global demand. As the home to some of the world’s highest deposits of copper, Zambia recognizes our role in meeting this demand.”
President Hichilema added that the country aims to establish itself as the partner of choice for mining companies, emphasizing, “Zambia has a stable, predictable mining and fiscal regime… We are working with local and international partners to boost energy and infrastructure to support our bold mining ambitions.”
In addition to supporting exploration efforts, Zambia is prioritizing the development of its local mining value chain. Efforts are being made to address bottlenecks related to infrastructure and transport to facilitate the expansion of mineral exports.
“We have opened up the market to private sector players. We have also lined up infrastructure projects like the Lobito Rail Line to provide a smoother road to market,” he added.
