Africa's mining potential continues to attract worldwide attention, driven by growing demand for critical minerals that are essential to the global energy transition. Among the continent's best-endowed countries, Zambia stands out as a key player in the production of copper, a strategic metal for batteries, electric vehicles and energy infrastructure. With the ambition of tripling its annual production to 3 million tonnes by 2031, the country is establishing itself as a prime destination for international investors.
In this context, the British company Moxico Resources is a pioneer. The company has just secured $50 million in financing from a firm specialising in supporting mining companies. The capital injection is aimed at accelerating the expansion of the Mimbula mine, a key deposit located in the Copperbelt province. The deal is expected to quadruple the mine's production by mid-2026, strengthening Moxico Resources' contribution to Zambia's mining boom.
Copper, dubbed the "red gold" of the energy transition, is experiencing exponential demand on the world market. Zambia, which has some of the richest deposits on the continent, intends to capitalise on this trend to become a strategic supplier. The Zambian government is playing a central role in this ambition, multiplying initiatives to stimulate production and attract foreign capital. In recent years, tax and administrative reforms have been introduced to provide a more stable and attractive regulatory framework for investors.
"Zambia is benefiting not only from its natural resources, but also from a political will to modernise the mining sector," stresses a market observer. The arrival of groups such as Moxico Resources illustrates this dynamic, with massive investments testifying to growing confidence in the country's potential.
While the objective of tripling copper production by 2031 is ambitious, it is contingent on a number of key factors. Infrastructure development, particularly roads, railways and access to electricity, remains a priority to facilitate extraction and export. Political stability, which is essential to reassure foreign investors, must also be maintained. Finally, improving working conditions in the mines, which are often criticised, will be crucial to ensuring sustainable and socially responsible mining.
For Moxico Resources, the expansion of the Mimbula mine represents a decisive step forward. "This investment will enable us to maximise the potential of this deposit while contributing to Zambia's economic growth," said a company spokesperson. With other similar projects in the pipeline, the country looks set to revitalise its mining sector and establish itself as a pillar of global copper supply.
By banking on its resources and a strategy of opening up to investors, Zambia is positioning itself as an essential cog in the global chain of critical minerals. At a time when the major economic powers are seeking to secure their supplies for the energy transition, the African country could well come out on top, provided it meets the challenges that lie in its path.
