Cape Town – Zambia's Mines and Mines Ministry Development in a report published in collaboration with the British Geological Survey, outlined the enormous significant mineral opportunities available nationwide.
Covering strategic minerals such as copper, cobalt and manganese, the report highlights the country's already instrumental role in the global supply chain.
This report is before Mining Week in Africa (AMW). It is the best gathering for African mining stakeholders.
The event, which will be held in Cape Town from October 1-3, will feature a dedicated panel in Zambia with the Zambian title. Accelerating exploration and development through license allocation.
This session outlines investment outlook, market trends, partnership opportunities and unlocks the country's strategy to unlock its full mineral potential.
copper
Zambia is the 10th largest copper producer, contributing 3% of total production – is expected to play a key role in meeting the expected increase in global demand, which is projected to increase by 25% by 2040.
With several large-scale projects that will be online by 2026, including Sinomine Resources' Kitumba Mine, Mimosa Resources 'Kashime Mine, and Kobold Metals' Mingomba Mine, Zambia's copper sector is ready to expand.
The country has set a goal of increasing production to 3 million tonnes by 2031, highlighting unique opportunities for mining companies.
cobalt
In 2024, six businesses in Zambia were actively producing cobalt from copper.
Together with the Democratic Republic of the Congo, Zambia owns 58% of the world's copper resources, including cobalt.
By the end of 2025 in Zambia, commissioning of Africa's first cobalt sulfate refinery will increase the country's cobalt production.
The project is led by Kobaloni Energy and is supported by a $100 million investment from Vision Blue and Africa Finance Corporation.
US-based Terra Metals is rebooting its copper-cobalt acid leaching plant in the Kabompo Dome area in 2025.
manganese
Ruapura Province in Zambia is the country's manganese hub. Musamu Resources 'Luongo Open-Pit Mine – Zambia's first large manganese mine – began operations in 2022 and aims to expand to 1 million tonnes per year by 2027. Kabundriss also operates two wash plants in Serenge.
nickel
Zambia hosts two nickel operations. It is the first enterprise project owned by quantum minerals and the Munari mine run by Mavisa Resources.
Annual production increased from 2,500 tonnes in 2019 to 8,000 tonnes in 2023, with global demand expected to rise by 70% by 2040.
graphite
Important graphite outlooks have been identified in Petauke, Lundazi and Kapiri Mposhi, and high quality findings have been found on Mvuvye and Njoka sites.
Other known findings include Sasare and Mkonda deposits.
As companies such as Malaika Exploration move to commercialize these assets, Zambia is expected to help meet the 130% surge in global graphite demand by 2040, due to growth in the electric vehicle sector.
lithium
Zambia's lithium potential is concentrated in Chomabelt in the southern province.
UK-based First Africa Metals has confirmed high-quality deposits in Misika and Kandela projects, with further investigations going on in Tonga, Kona Yuma and Rock Valley.
With global lithium demand increasing by 350% by 2040, these assets could significantly increase Zambia's export revenue and job creation.
Rare earth elements
Zambia is stepping up its exploration with global rare earth elements demand forecasts rising 65% by 2040.
Antler Gold is underway on the Kesya project, while X-Ram Traws is underway on the discovery of Nkombwa Hill.
Columbia Tantalite
Columbite Tantalite – Important in electronics, aerospace and energy represent an undeveloped opportunity for Zambia to diversify its mineral foundations and revenue streams.
The exploration is underway with Maamba Korieri in the southern province and Malaika exploration in northeastern Zambia.
Zambia's reserves are becoming increasingly strategic in the global supply chain as global demand for minerals is projected to increase by up to 525% by 2040.
