Africa’s second-largest copper producer heads to elections with $10 billion mining boom and 3-million-tonne ambition at stake

As Zambia heads to the polls next week, the country’s mining industry is focused on more than who wins the presidency.

For miners and investors, the bigger question is whether the next government can deliver the reforms needed to transform Africa’s second-largest copper producer into one of the world’s fastest-growing suppliers of the metal powering the global energy transition.

Copper prices have surged by more than 40% over the past year to around $14,000 per tonne, driven by soaring demand from electric vehicles, renewable energy projects, power grids and data centres.

Zambia hopes to capitalise on that boom by increasing annual copper production to 3 million metric tonnes, nearly three times its current output.

Industry executives say achieving that target will require more than favourable commodity prices.