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Zambia targets record copper output, maintains stable mining tax regime
Zambia is targeting copper production of 930,000 metric tonnes as it advances its ambition to become a three-million-tonne producer by 2031, with government maintaining that the long-term target remains achievable. Presenting the 2027 national budget in Parliament on Friday, Finance and National Planning Minister, Situmbeko…
Picture: Zambia Monitor
Zambia is targeting copper production of 930,000 metric tonnes as it advances its ambition to become a three-million-tonne producer by 2031, with government maintaining that the long-term target remains achievable.
Presenting the 2027 national budget in Parliament on Friday, Finance and National Planning Minister, Situmbeko Musokotwane, said progress towards the three-million-tonne target was on course, citing mine expansion programmes, renewed investment in old mines and ongoing geological exploration.
“Progress towards the three million tonnes is solid and is based on the resolution of disputes among various actors in the sector was already done during the first term and will continue as and when needed,” he said.
Musokotwane cited expansion programmes at major mining operations, including First Quantum Minerals, Barrick Lumwana, Konkola Copper Mines and Mopani Copper Mines, as part of efforts to increase production.
He also pointed to the rehabilitation of old mining operations, including Kalengwa and Luanshya, alongside the development of new projects such as Kitumba and KoBold.
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“This is already happening;on-going rehabilitation of old mines such as Kalengwa and Luanshya;on-going development of greenfield mines such as Kitumba and KoBold;completion of the aerial geophysical survey by the end of the year,” he stated.
The minister said the next phase would involve ground-based geological investigations to verify, interpret and validate the results of the aerial geophysical survey.
He said government had allocated funds in the 2027 budget to undertake the investigations.
Other measures to support the production target include maintaining a stable, predictable and competitive mining fiscal regime, as well as digitising mining licensing and permit processes to strengthen regulation, transparency and accountability.
Musokotwane told Parliament that the Minerals Regulation Commission was now fully operational and had been decentralised.
On gold production, he acknowledged that although the mineral was being mined in Zambia, significant quantities, particularly from small-scale operations, were traded informally.
“Going forward, Government will establish a gold trading agency that will aggregate gold and formalise trading,” he stated.
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