Zambia has released a comprehensive geological report detailing vast reserves of critical minerals, positioning the country as a strategic global supplier ahead of an anticipated surge in mineral demand over the next 15 years.
The report, developed by Zambia’s Ministry of Mines and Minerals Development in collaboration with the British Geological Survey, outlines the country’s mineral potential across multiple provinces and highlights its growing role in global supply chains.
With demand for key minerals projected to rise sharply by 2040 – lithium by 350 percent, graphite by 130 percent, rare earth elements by 65 percent and copper by 40 percent – Zambia is accelerating exploration and development to meet future needs.
Already the world’s 10th-largest copper producer, Zambia contributes three percent of global output and aims to triple production to three million tonnes annually by 2031.
Major copper projects, such as Sinomine Resources’ Kitumba Mine, Mimosa Resources’ Kashime Mine and KoBold Metals’ Mingomba Mine, are expected to come online by 2026.
Cobalt production is also expanding, with six active operations and Africa’s first cobalt sulphate refinery set to be commissioned by the end of 2025.
The $100 million facility, led by Kobaloni Energy and backed by Vision Blue and the Africa Finance Corporation, will boost Zambia’s share of the global cobalt market, which it jointly dominates with neighbouring Democratic Republic of Congo.
The report also highlights growing investment in manganese, nickel, lithium and graphite.
Musamu Resources’ Luongo Mine in Luapula Province is scaling up manganese output, while First Quantum Minerals and Mabiza Resources are expanding nickel production.
High-grade graphite deposits have been confirmed in Petauke, Lundazi and Kapiri Mposhi, and UK-based First Africa Metals is advancing lithium exploration in the Choma Belt of Zambia’s Southern Province.
Rare earth exploration is gaining momentum, with Antler Gold’s Kesya Project and x-RAM Traws’ Nkombwa Hill discovery leading the charge.
Zambia is also exploring columbite-tantalite, a mineral critical to electronics and aerospace, with active projects in the Southern and north-eastern provinces.
The release of the report comes ahead of African Mining Week, scheduled for 1-3 October in South Africa’s Cape Town.
A dedicated panel titled “Zambia: Accelerating Exploration and Development Through License Allocation” is expected to showcase the country’s strategy to unlock its mineral potential and attract global investment.
JN/APA