Zambia’s copper production saw a significant 12% increase in 2024, reaching approximately 820,670 metric tons, up from 732,580 tons in the previous year.
This surge in production can be attributed to the recovery of key mines, including Barrick Gold’s Lumwana mine and Vedanta Resources’ Konkola Copper Mines (KCM), which resumed operations after facing challenges.
The government of Zambia is heavily reliant on the mining sector to drive economic growth.
Despite facing electricity shortages due to a severe drought that impacted hydroelectric power generation, the copper mining sector demonstrated resilience.
Major mining players, including Canadian miners Barrick and First Quantum Minerals, have been increasing output at their Zambian operations.
Furthermore, KoBold Metals, backed by U.S. investors, has announced plans to invest $2 billion in a new copper mine in the southern African country.