Chinese firms to invest US $5bn in Zambia’s mining
Chinese companies operating in Zambia have announced plans to invest an additional 5 billion U.S. dollars in the country’s mining sector over the next five years.
This was disclosed by Li Zhanyan, chairperson of the Chinese Mining Enterprises Association in Zambia, during the inaugural 2024 Zambia Mining and Investment Insaka (Gathering), held in Lusaka. The new investment is aimed at boosting copper production to 280,000 tonnes annually.
Li highlighted that Chinese companies have already invested over 3.5 billion dollars in Zambia’s mining sector over the past 26 years, creating 15,000 jobs and producing 130,000 tonnes of copper concentrate, 250,000 tonnes of blister copper, and 50,000 tonnes of leach copper annually.
Boost in innovation
The planned investments will also focus on promoting innovation by integrating advanced technologies such as digitalization, automation, and artificial intelligence to enhance mining efficiency, environmental sustainability, and safety.
Zambian President Hakainde Hichilema expressed appreciation for the continued interest from mining investors, underscoring the importance of partnerships in sharing expertise, introducing cutting-edge technologies, and boosting value addition. He urged investors to capitalize on Zambia’s favorable investment climate and stable policies to further develop the sector.
The gathering, themed “Mining Beyond Copper — Celebrating 100 Years of Mining in Zambia,” brought together over 2,500 participants, offering a platform for knowledge exchange, cooperation, and investment in Zambia’s mining industry.
