Towards Three Million Tonnes
- Konstanza Haefner
- Jun 27
- 4 min read
With its plans to produce three million metric tonnes of copper annually by 2031, Zambia is poised to become a truly great global mining powerhouse. The scheme aims to stimulate investment, expand exploration, and unlock new mining frontiers across the country[1]. Achieving this target would not only double Zambia’s current copper output but also propel it into the ranks of the world’s top copper producers, alongside Chile, the Democratic Republic of Congo, and Peru[2], solidifying its crucial role in supplying the metal for renewable energy, electric vehicles, and global infrastructure.
A key driver of this growth is mining exploration, which involves identifying untapped mineral deposits through advanced geological surveys, drilling, and feasibility studies. Successful exploration could lead to new large-scale mines, extending Zambia’s copper lifespan and boosting economic growth. The government is actively supporting these efforts by implementing comprehensive measures, such as streamlining licensing procedures, enhancing access to geological data, and adding fiscal incentives like VAT exemptions of exploration equipment[3].
For investors, this presents a rare opportunity; Zambia’s high-grade copper reserves, stable policies, and pro-mining reforms make it one of the most promising destinations for mineral investment in Africa. As global copper demand surges, Zambia’s exploration success will be pivotal in meeting the world’s growing copper demand whilst delivering substantial returns for early movers.
There are a multitude of methods in which to explore for new mines, allowing investing companies a great level of freedom as they set about their exploration in Zambia. Two companies of note are Midnight Sun Mining and KoBold Metals. Within its 2025 exploration, the former is surveying a 20-kilometre strip of land in Dumbwa via dipole-dipole induced polarisation[4] using electrodes to study the electrical properties of the Earth’s subsurface This is a tried and tested method, having over a century of use and precedent. Conversely, KoBold is using an innovative AI model to explore for new deposits. The company has two proprietary data-driven platforms[5] the first to collect historical and scientific data and the second to examine that data. Meanwhile, Ivanhoe Mines has launched one of Africa’s largest copper exploration programmes across Zambia’s Western Forelands, covering 7,757 km² with plans to deploy multiple drilling rigs to test high-priority targets identified through advanced geophysical surveys[6]. This convergence of traditional techniques, AI innovation, and large-scale systematic exploration creates a constructive collaboration that positions Zambia to not only meet but potentially exceed its ambitious copper production targets. However, to fully capitalise on these opportunities, Zambia must expedite the lengthy timeline from exploration to a fully operational mine, which currently averages 20 years, a delay that risks deterring investment and slowing its ascent as a global copper leader.
The exploration and development of Zambia’s copper reserves represents a transformative economic opportunity, with the potential to generate billions in revenue, create thousands of jobs, and accelerate infrastructure development. As global copper demand surges, driven by its irreplaceable role in electrification, electric vehicles, and renewable energy systems, Zambia’s untapped deposits hold immense value. According to the country’s copper production strategy, achieving three million tonnes annually would grow mining’s GDP contribution from 12% to 20% by 2031[7], highlighting the metal’s outsized economic impact. Zambia’s copper strategy estimates that $10-15 billion in investment will be needed to achieve its three million tonne production targets[8], with exploration playing a pivotal role in unlocking this capital. Beyond economics, copper’s role in decarbonisation makes Zambia’s mining sector not just a national priority but a global one, where exploration today translates to sustainable growth tomorrow.
Zambia’s copper exploration sector has become a magnet for global investors, with a diverse array of companies, from tech-backed startups to mining giants, racing to unlock the country’s mineral potential. Major miners like First Quantum Minerals, Barrick Gold, and Mopani Copper Mines are expanding existing assets while developing new projects like the Mumbezhi Copper Project[9], Lumwana mine[10], and an over $1 billion investment[11] respectively, while Ivanhoe Mines’ massive Western Forelands exploration programme demonstrates long-term commitment to Zambia’s potential. The sector’s appeal spans traditional mining houses, innovative explorers like KoBold Metals, and junior miners such as Koryx Copper, together creating a robust ecosystem of investment. This broad-based participation across the value chain, from early-stage exploration to production expansion, reflects strong market confidence in Zambia’s mineral endowment and regulatory environment. The simultaneous activity in multiple provinces, from the established Copperbelt to emerging frontiers in Central and North-Western Zambia, suggests the country is entering a new era of mineral discovery, with each successful project reinforcing Zambia’s position as a premier investment destination for copper development.
Located at the heart of the Central African Copperbelt (CACB), home to the world’s largest and highest-grade sedimentary copper deposits, Zambia is entering a new era of mineral discovery. Simultaneous activity across multiple provinces, from the established Copperbelt to emerging frontiers in Central and North-Western Zambia, continues to reinforce the country’s status as a premier copper investment destination. Zambia stands at the threshold of a transformative era in mining, where its ambitious three million tonne copper vision is rapidly becoming a reality.The convergence of cutting-edge exploration technologies, unprecedented investor confidence, and proactive government support has positioned the country as Africa’s premier copper investment destination. From traditional miners to AI-driven pioneers, the diversity of companies deploying capital across Zambia’s Copperbelt demonstrates universal conviction in the nation’s mineral wealth. With copper’s critical role in global decarbonisation, Zambia’s exploration successes promise more than economic growth, they position the country as an indispensable player in the green energy transition. For investors, this represents a unique alignment of geological potential, policy stability, and market timing. As exploration unlocks new deposits and an uptick in existing projects output, Zambia is not just chasing production targets it’s securing its place as the world’s next copper powerhouse. The momentum is undeniable; the opportunity, unparalleled.
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