Natural resources can generate massive prosperity on the African continent, but only if they are unlocked through strategic partnerships. That was the key message delivered by Zambian President Hakainde Hichilema in his opening speech at Investing in African Mining Indaba 2026, the largest event of its kind, bringing together mining professionals, investors and industry leaders.
According to Mr Hichilema, the mining sector is key to revitalising Africa and ensuring its rightful place at the forefront of the global economy, drawing on Zambia's experience. The president described how his government has placed the revival of the mining sector at the heart of its economic agenda, establishing regulatory certainty, increased transparency, strengthened institutions and deploying innovative mining technologies for long-term growth.
With copper's rise as a critical mineral for artificial intelligence, defence and electrification, the copper-rich nation of southern Africa is enjoying unprecedented demand for the metal. Mr Hichilema emphasised that the Mining Indaba event symbolises the African dream of transformative partnerships.
“Zambia agrees that we are stronger together,” said the president. “We all have capabilities, endowments, skills and experience. But none of us has enough on our own to offer the complete package to our economies.”
Zambia's success: a transformed economy
Mr Hichilema detailed Zambia's success story, which reversed its annual growth rate from -2.8% to 6.4% in four years. Partnerships with mining companies were central to this transformation.
The key to changing Africa's fortunes through the mining sector lies in providing a clear path that partners and investors can follow. "We must take the lead," he insisted. "If we do, others will support our strategies. It is easy to support people with a clear vision. But we must organise ourselves to be worthy partners in the global community."
Among Zambia's achievements towards its medium-term goal of producing three million tonnes of copper per year: disciplined reforms have ended endemic litigation in the mining sector, and the country has successfully completed 38 months of reviews under the IMF's Extended Credit Facility programme.
The President encouraged African countries to change the narrative that the IMF imposes programmes. "We must build our own recovery programmes and ask the IMF to support us," he said. "These programmes should focus on growth – not just fiscal consolidation and macroeconomic stability."
Under his leadership, inflation has fallen to single digits, down from a peak of 22%. The revitalised mining sector is now generating jobs and opportunities for small and medium-sized enterprises. Mining taxes have made it possible to expand the free education programme, enrolling 2.3 million children in school.
Zambia is also completing its first high-resolution geophysical survey in 50 years, helping to de-risk exploration for miners and streamline mining approval processes. More than £12 billion in foreign investment has poured in since 2022, almost entirely into mining projects, amid a global copper boom. Copper production increased by 12 per cent in 2024 and 8 per cent in 2025.
Call for regional value chains
Elaborating on the need for partnerships, Mr Hichilema emphasised the importance of building regional value chains around logistics and value addition. "Whether it is the Tazara railway or the Lobito corridor, we must focus not only on transport, but on what we transport," he said. "We need a shared vision for value addition that goes beyond the port-to-mine approach."
"Mining is synonymous with empowerment, equity and shared prosperity," concluded the President. "Let us use it to unlock Africa's promise of better opportunities for the young people of our continent."
Mining Indaba provides a platform for direct dialogue between African governments and the global mining and investment community. Earlier in the day, South African Minister of Mineral Resources and Energy Gwede Mantashe said in his opening address that it was imperative for Africa to act collectively and speak with one voice on mining issues.
“Trade unionists understand that workers cannot negotiate alone,” said Mr Mantashe. “The same applies to Africa. We must negotiate mining and processing agreements with the rest of the world as a single economy.”
The 32nd edition of the Investing in African Mining Indaba is being held under the theme "Stronger Together: Progress Through Partnerships". The gathering, Africa's largest mining investment conference, brings together governments, mining companies, investors and financiers from across the global mining value chain.