Zambian President Hakainde Hichilema is set to deliver a keynote address at the Investing in African Mining Indaba, which will take place from February 5 to 8 in Cape Town, South Africa.

This will be Hichilema’s second appearance at Mining Indaba as President, having delivered a keynote address in May 2022, shortly after his election victory in 2021.

During this year’s keynote address, he is expected to delve into the future of mining in Zambia, outlining his plans to expand copper production and position the country as a major player in the global mining industry.

He will also discuss efforts to help the Zambian mining sector expand into a wider array of critical minerals including cobalt, nickel and manganese.

Moreover, Hichilema’s speech will explore the potential for collaboration between the government, industry stakeholders and investors, highlighting the need for partnerships to drive innovation and maximise the sector’s socioeconomic benefits.

Since his election, Hichilema has been progressing his objectives, including implementing several measures to revitalise the mining sector in Zambia, Mining Indaba says in a statement.

With Zambia being the seventh-largest copper producer globally, Hichilema has set out to advance the country’s ranking, with the goal of expanding copper production from 800 000 t/y currently to about three-million tonnes a year of copper by 2030.

Under his leadership, the government of Zambia has reviewed the mining tax framework, with the aim of creating a stable and competitive taxation system, while eliminating double taxation.

Moreover, Hichilema has spearheaded efforts to attract investment along the mining value chain, exemplified by the signing of a memorandum of understanding with the Democratic Republic of Congo to build a regional value chain for electric vehicle batteries, the Mining Indaba acclaims.

“These initiatives have already yielded positive results, with major mining groups reinvesting in Zambia and the country’s copper opportunities gaining renewed interest from global players,” it posits.

The Mining Indaba highlights positive developments two years into Hichilema’s Presidency as including Barrick Gold’s Lumwana mine contributing nearly $3-billion in taxes, royalties, and local employment since 2019. 

In October 2023, the company announced that it would invest almost $2-billion to expand Lumwana and increase its output to an estimated 240 000 t/y of copper.

First Quantum Minerals has also committed to a $100-million investment to bring the Enterprise nickel mine online.

Moreover, the company’s $1.25-billion expansion of its Kansanshi copper mine – announced at the Investing in African Mining Indaba 2022 – is expected to create nearly 2 000 jobs in Zambia.

The Mining Indaba also mentions the emergence of new players in the country.

This includes California-based Kobold Metals working to start producing copper and cobalt at its project in Zambia. The company has thus far invested $150-million to accelerate its search for high-quality metal deposits located in the Copperbelt.

Other newcomers include Abu Dhabi’s International Resources, which in December 2023 announced a $1.1-billion investment in Mopani Copper Mines, funding the mine’s expansion plan and increasing copper production to 200 000 t/y in the next three years.

The Mining Indaba also highlights support for industries that provide infrastructure and support to the extractives sector.

On October 26, government signed a memorandum of understanding with the US and the European Union to develop the Lobito Corridor and build a new Zambia-Lobito rail line.

This includes a $250-million investment by the US, and it is expected to bolster intra-regional trade, as well as stimulate growth and job creation within Zambia.

The Mining Indaba 2024 theme is ‘Embracing the power of positive disruption: A bold new future for African Mining’.

“Zambia’s re-emergence as a top investment destination of choice for mining investors demonstrates that positive disruption can deliver positive results and Mining Indaba is excited to provide opportunities to understand the country’s successes and processes for achieving this,” the Mining Indaba avers.