According to Mining.com via Bloomberg, Zambia plans to establish an investment company to control at least 30% of the production from future key mineral mines. Minister of Mines, Paul Kabuswe, announced this strategy to maximize benefits from the development of metals critical for the energy transition. As Africa’s second-largest copper producer, Zambia aims to quadruple copper output over the next decade, leveraging its rich reserves of cobalt, graphite, and lithium. The government will implement a special mechanism for key mineral investments, including a “production sharing mechanism.” The plan includes having the government hold at least 30% of the output from new mining projects.
Companies like Barrick Gold, First Quantum Minerals, and others have invested in Zambia’s copper projects. Zambia is also encouraging Vedanta Resources Ltd. and Emirates International Resources to speed up production at Konkola and Mopani copper mines, respectively.
To achieve the target of producing 3 million tons of copper by 2031, Zambia’s existing mines need to double their output to 1.4 million tons. Ongoing projects, such as KoBold Metals’ Mingomba project, backed by Bill Gates, are expected to contribute 1.2 million tons of copper annually by that time. Additionally, the government plans to ensure that key mineral investors source at least 35% of goods and services locally, while also evaluating policies to limit the export of unprocessed materials.
[Source – 上海有色网] 赞比亚将成立关键矿产投资公司 https://news.smm.cn/news/102934568
