Kobold Metals, a leading American Mining Technology Firm, has announced plans to construct Mingomba Mine, which is expected to be Zambia’s largest copper mine.
During a courtesy call on President Hakainde Hichilema at State House in Lusaka today, Kobold Metals Global Chief Executive Officer, Kurt House, announced that the Mingomba Mine Project to be implemented on the Copperbelt, will begin in 2026, with a groundbreaking ceremony planned for April.
He highlighted over 120,000 metres of drilling, more than the total done at the legacy Loop license since independence, following major exploration successes in the province.
“I just got to Lusaka from our Mingomba Project on the Copperbelt, and I am very pleased to report that we are firing on all cylinders, thanks to our remarkable local leadership and our essential partners at ZCCM-IH, the Presidential Delivery Unit, and various ministries, we’ve been able to move quickly and effectively.
He added, “I have a very exciting announcement for you Mr President, we intend to start construction next year, and we would like to invite you to be our guest of honour at the groundbreaking ceremony.”
President Hichilema has described the Kobold Metals-led Mingomba Copper Project as a flagship example of Zambia’s renewed mining sector, calling it an exciting time for the country as it pushes ahead with economic recovery and industrialisation.
President Hichilema thanked Kobold for choosing to invest in Zambia and emphasised the importance of continued cooperation between government ministries, the private sector, and international partners.
“In just two years, this project has surpassed what has been done on some legacy licenses for decades. That shows what’s possible with a properly structured, investor-friendly environment,” President Hichilema said.
He positioned the Mingomba project as a symbol of Zambia’s broader economic vision, particularly the revival of mining as a key pillar of national growth.
“This is what we intended to do when we came into office, to reconstruct the economy, and the mining sector was always going to be central to that plan, many of our brownfield projects were comatose, sitting on idle assets. We knew they could be brought back to life,” President Hichilema said.
The Head of State further referred to the Mingomba Project as a partnership that reflects decades of cooperation between Zambia and the United States.
“Our relationship with the United States is not in competition with any other. It’s our relationship, built over 60 years, and it must continue to grow beyond changing administrations on both sides,” he said
The President also urged for support in unlocking fairly priced capital for projects like Mingomba which he said was essential to realising Zambia’s full potential.
Minister of Mines, Paul Kabuswe, has hailed the Kobold Metals investment as a turning point for the country’s mining sector, describing it as proof that the government’s strategy to attract responsible, technology-driven capital is bearing fruit.
“This is the proof, like you always say, Mr President, that the taste of the pudding is in the eating. We now taste that pudding, this is the realisation of the vision you laid out in 2021. It is the result of how you traversed the globe to bring investment back into Zambia,” Mr Kabuswe said.
Meanwhile, ZCCM-IH Board Chairperson, Phesto Musonda, said the Mine, expected to produce 400,000 to 500,000 tonnes of high-grade copper annually, has already created 670 jobs, out of its 700 target before beginning the development.
Again, those who keep on whining daily over our once in a life time president HH are just consumed with hateful thoughts. President HH is the best salesman the country has ever had. Zed on the right track. No wonder the western world is furious.
They don’t have anything to say these shameless people.HH is busy working to stabilize the economy through INVESTMENT.Employment for the locals is the way forward.Those who appreciate what HH has achieved will vote for him massively next year.