Zambia Unveils Critical Mineral Prospects and Milestones

Covering strategic minerals such as copper, cobalt, manganese and more,the statement noted, the report underscores the instrumental role the country already plays in global supply chains.

The report comes ahead of African Mining Week (AMW) – Africa’s premier gathering for mining stakeholders. Taking place October 1-3 in Cape Town, the event will feature a dedicated panel on Zambia, titled Zambia: Accelerating Exploration and Development Through License Allocation.

The session will unpack the country’s strategy to unlock its full mineral potential, outlining investment prospects, market trends and partnership opportunities.

Copper 

As the tenth-largest copper producer globally – contributing 3% of total output – Zambia is expected to play a critical role in meeting the anticipated rise in global demand – projected to increase 25% by 2040.

With several large-scale projects set to come online by 2026, including Sinomine Resources’ Kitumba Mine, Mimosa Resources’ Kashime Mine and KoBold Metals’ Mingomba Mine, Zambia’s copper sector is primed for expansion. The country has set a target to increase production to three million tons by 2031, highlighting a unique opportunity for mining firms.

Cobalt 

In 2024, six operations in Zambia were actively producing cobalt from copper. Together with the Democratic Republic of Congo, Zambia holds 58% of the world’s cobalt-bearing copper resources. The commissioning of Africa’s first cobalt sulfate refinery by the end of 2025 in Zambia will expand the country’s cobalt output.

The project is led by Kobaloni Energy and backed by a $100 million investment from Vision Blue and the Africa Finance Corporation. U.S.-based Terra Metals is also relaunching a copper-cobalt acid leach plant in the Kabompo Dome area in 2025.

Manganese 

Zambia’s Luapula Province is the country’s manganese hub. Musamu Resources’ Luongo Open-Pit Mine – Zambia’s first large-scale manganese mine – began operations in 2022 and aims to scale output to one million tons per year by 2027. Kabundi Resources also operates two washing plants in Serenje.

Nickel 

Zambia hosts two nickel operations: the Enterprise Project owned by First Quantum Minerals and the Munali Mine operated by Mabiza Resources. Annual production rose from 2,500 tons in 2019 to 8,000 tons in 2023, with global demand expected to climb by 70% by 2040.

Graphite 

Significant graphite prospects have been identified in Petauke, Lundazi and Kapiri Mposhi, with high-grade discoveries at the Mvuvye and Njoka sites. Other known discoveries include the Sasare and Mkonda deposits.

As companies such as Malaika Exploration move to commercialize these assets, Zambia is set to contribute to meeting a forecast 130% surge in global graphite demand by 2040, driven by growth in the electric vehicle sector.

Lithium 

Zambia’s lithium potential is concentrated in the Choma Belt of the Southern Province. UK-based First Africa Metals has confirmed high-grade deposits at its Misika and Kandela projects, with additional exploration ongoing across Tonga, Konayuma and Rock Valley.

With global lithium demand set to grow by 350% by 2040, these assets could significantly boost Zambia’s export revenues and job creation.

Rare Earth Elements 

With global Rare Earth Element demand forecast to rise by 65% by 2040, Zambia is ramping up exploration. Antler Gold is progressing at its Kesya Project, while x-RAM Traws is advancing the Nkombwa Hill discovery.

Columbite-Tantalite 

Columbite-tantalite – critical in electronics, aerospace and energy – represents an untapped opportunity for Zambia to diversify its mineral base and revenue streams. Exploration is underway by Maamba Collieries in the Southern Province and Malaika Exploration in north-eastern Zambia.

With global demand for the mineral projected to increase by up to 525% by 2040, Zambia’s reserves are becoming increasingly strategic in global supply chains.

Distributed by APO Group on behalf of Energy Capital & Power.

SOURCE
Energy Capital & Power