First Quantum Minerals Ltd., led by Chief Executive Tristan Pascall, has delivered the 2024 Copperbelt High-Resolution Airborne Survey to Zambia’s Ministry of Mines. The initiative, heralded by President Hakainde Hichilema, marks a significant step in enhancing the country’s understanding of its vast subsurface resources.
“This critical mapping initiative provides a deeper understanding of Zambia’s resource endowment, benefitting not only the Ministry of Mines but the Zambian people as a whole,” President Hichilema said in a statement. He expressed gratitude to First Quantum Minerals for their leadership and collaboration on this project, which underscores Zambia’s commitment to leveraging its mineral wealth for economic development.
The handover of the survey coincides with encouraging news from the mining sector. Zambia’s copper output rose by 12% in 2024, reaching 820,670 metric tons compared to 732,580 tons in 2023. Mines Minister Paul Kabuswe attributed the increase to a recovery in production at key mines despite electricity shortages caused by a drought that impacted hydroelectric power generation.
The uptick in output reflects optimism in the sector, which the government has identified as a cornerstone of its economic growth strategy. Zambia, Africa’s second-largest copper producer after the Democratic Republic of Congo, aims to triple annual copper production to 3 million tons within the next decade.
Production gains were recorded at Mopani Copper Mines, now under the ownership of United Arab Emirates-based International Resources Holding, and other mines operated by industry heavyweights. Canadian firms Barrick Gold and First Quantum Minerals are scaling up production at their operations, while Vedanta Resources, backed by Indian billionaire Anil Agarwal, has committed $1.3 billion to revive Konkola Copper Mines (KCM).
Additionally, KoBold Metals, a U.S.-backed mining firm, has announced plans to invest $2 billion in developing a new copper mine in Zambia. The country’s mining resurgence, coupled with advancements like the Copperbelt High-Resolution Airborne Survey, signals a renewed drive to harness its natural resources while bolstering investor confidence.
As Zambia advances toward its ambitious production targets, the government remains focused on creating a sustainable, transparent, and investor-friendly mining industry that benefits its citizens and economy alike.
Hopefully, the government will now start warming up to the Norwegian style water-tight mine taxation system for maximum benefit to our people.
Who pays the piper calls the tune. By this donation they’ve an upper hand. Just wondering why it’s always like this. Every year our schools produce mining engineers, geologists, metallurgists and all manner of professionals and here we are celebrating a donation for a task that’s been done several times. Just for your info, wherever KK put a forest reserve or pine plantation there are minerals and precious stones. It’s not a new innovation
Copper production rose, so what. What benefit is to the general population?
this kind of thinking is dangerous. Unless you don’t know how the country economy operates. you must be educated on how the production of copper will impact the general population.
@TM I am sure you don’t mean I was suggesting that the copper should be shared among the people.
For your information I have been a mine designer even before you were born. Common sense should tell you that I meant the country is not benefiting since we don’t get anything from there. I must also add for information that these chaps are not only mining copper they mine more precious minerals which they don’t declare.
Unlike like you I am not talking from a point of affiliation.
A mine designer mmm I wonder ? Mapping department ? Well that may be true doesnt give you the knowledge on the finance side of things
Also I think its unfair to put all mining ventures into one basket
Ba Tikki I hope you know what you are talking about.
I worked on the mines for many years both underground and surface
As usual headlines giving hope to zambians.
As we are in champions league.
Let’s wait for light at the end of tunnel.
If all external and market forces remain equal, the 12% we have achieved in 2024 should improve to even higher gains this year.
An indication of good leadership?
That’s Haikainde Hichilema’s dynamic leadership.
@Deja Vu It’s heartbreaking the lion’s share is for foreigners. When are we going to look within ourselves and come up with our own solutions? We can’t be enslaved economically by the so called investors for donkey ages
To whose benefit is this rise mineral extraction? Why are we extracting every mineral out of the ground? Where are the reserves for the copper we are digging? They are not using these minerals but putting reserves for their future and we are behaving like we don’t have a future ourselves. Why are we doing this kanshi? Is it ignorance or just greedy by the leadership?
Who cares
Vedanta still promising the same amount after 20 years
Remember the slow and steady decline on all economic indicators during PF years? Never ever vote for narcissistic leaders again ba Zambians.