According to the International Energy Agency the demand for copper is projected to almost double by 2040. Key drivers of this are the metal’s role in power grids, electric vehicles, and renewable-energy infrastructure. This places Zambia at the heart of the global energy transition.

As the world’s thirst for copper intensifies, Zambia is working to boost annual production toward a government target of 3 Mt by 2031. This ambition, coupled with a pro-investment regulatory climate, is drawing renewed interest from international mining houses. Yet the government’s plan extends beyond copper alone. It is pursuing a diversified critical-minerals portfolio - cobalt, nickel, manganese, graphite, lithium, and rare-earth elements - to build a more resilient economy, less vulnerable to fluctuations in any single commodity.

Zambia’s well-established mining sector enjoys strong geographic advantages. Its proximity to the Democratic Republic of the Congo (DRC) - which accounts for about 70% of global cobalt supply, creates a natural regional hub for mineral processing and midstream value addition.

The country also benefits from abundant, hydro-dominated renewable power and industrial electricity tariffs among the lowest in the region (rates vary by class under the Energy Regulation Board’s schedules). In addition, Zambia’s logistics network, linking mines to ports in Tanzania, Mozambique, and South Africa, supports export competitiveness.

To attract investors, the government offers tax holidays, duty exemptions, and streamlined licensing in its Multi-Facility Economic Zones (MFEZs). Significant investment opportunities exist in copper smelting, cobalt refining, and other downstream projects that can multiply value within Zambia’s borders.
Ensuring the wealth stays home

While this outward-looking strategy welcomes international capital and expertise, the government has moved decisively to ensure that the resulting wealth also benefits Zambians. A landmark step came with the enactment of the Geological and Minerals Development (Local Content) (Preference for Goods and Services in the Mining Sector) Regulations, Statutory Instrument No. 68 of 2025, which will take effect on 1 January 2026.
Under the new framework, mining and mineral-related companies must progressively increase procurement from Zambian-owned or citizen-empowered firms, beginning at 20% within six months and rising to 40% within five years. To widen participation, large contracts may be subdivided so smaller local suppliers can compete, supported by a 15% margin of preference in bid evaluations. Non-core services - including catering, security, and transport - are exclusively reserved for Zambian businesses.

Beyond procurement, the regulations compel mining companies to create Supplier Development Programmes covering training, mentorship, access to finance, and technology transfer, financed by at least 0.05%of annual procurement expenditure. Transparent quarterly reporting and strong penalties for non-compliance (starting at ZMW 400,000 plus ZMW 60,000 per day for ongoing offences) ensure accountability and enforcement.
These measures are designed to embed local participation into the mining value chain, stimulating domestic enterprise, innovation, and skills development, so that Zambia’s mineral wealth generates sustainable national benefits long after the boom cycles pass.

Zambia`s twin-track approach of expanding global supply while deepening local content, reflects a forward-looking vision: to become both a trusted exporter of the minerals powering the clean-energy future and a homegrown beneficiary of that transition.

In this dual strategy, Zambia has found its formula for the future as a supplier to the world and a stakeholder in the clean-energy revolution. The ultimate dividend it seeks is a transformed homeland, built on the wealth beneath its soil and the vision above it.

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