Production increased despite electricity shortages caused by a drought affecting hydroelectric power generation. Credit: Ziadi Lotfi/Shutterstock.

Zambia’s copper production rose by 12% in 2024 to approximately 820,670 tonnes (t), up from 732,580t in the previous year.

According to Mines Minister Paul Kabuswe, this increase is attributed to the recovery of production at major mines, reported Reuters.

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The government anticipates that the sector will bolster economic growth.

Barrick Gold‘s Lumwana mine in north-west Zambia ramped up its output, while Konkola Copper Mines (KCM), owned by Vedanta Resources, resumed operations.

Additionally, production improved at Mopani Copper Mines, which was recently bought by United Arab Emirates-based International Resources Holding.

Production increased despite electricity shortages due to a drought in the country that impacted hydroelectric power generation, Kabuswe said.

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Zambia, reputed to be Africa’s second-largest copper producer after the Democratic Republic of Congo, aims to increase copper output to three million tonnes per annum (mtpa) within the next decade.

Vedanta, backed by Indian billionaire Anil Agarwal, intends to invest $1.3bn (Rs112.46bn) to revitalise KCM after a dispute with Zambian authorities over ownership.

Canadian miners Barrick and First Quantum Minerals are also stepping up production at their Zambian mines.

KoBold Metals, supported by US investors, is also reportedly planning a $2bn copper mine in Zambia.

The country announced plans in October last year to expand copper production, aiming to quadruple output by the early 2030s.

This expansion requires investment to advance early-stage projects into operational mines.

Jito Kayumba, special assistant for finance and investment to Zambia’s President Hakainde Hichilema, pointed out that the Zambian Mines Ministry will be transferring more than 40 mining permits to a state-owned enterprise.

This state-owned entity will negotiate partnerships with potential investors.

Last November, Japanese trading company Mitsui placed the highest bid for a 20% stake in First Quantum Minerals’ Zambian Sentinel and Kansanshi copper mines.

The bid, valued at approximately $2bn (Y308.82bn), surpassed a competing offer from Saudi Arabia’s Manara Minerals Investment.