21/05/2026
Policy Consistency and Peaceful Politics Driving Massive Mining Investment into Zambia
By Dr. Catherine Mulaisho
The latest announcement involving Chinese mining giant Sino-mine Resource Group planning to raise over US$764 million for projects in Zambia and Zimbabwe is another strong vote of confidence in Zambia’s mining future.
Part of those funds are earmarked for the Kitumba Copper Mine in Zambia, showing once again that global mining firms now see Zambia as a strategic long-term investment destination.
This development comes barely a month after the groundbreaking ceremony of the Mingomba Mine by KoBold Metals on April 29, 2026. KoBold Metals, backed by global billionaires including Bill Gates and Jeff Bezos, intends to invest over US$3 billion in Zambia over the next decade. That level of investment cannot come into a country where there is chaos, confusion, and inconsistent leadership.
The Mingomba project alone has the potential to transform Zambia’s copper production capacity while creating thousands of jobs directly and indirectly. More importantly, it signals that Zambia is now competing at a global level for strategic mineral investments linked to electric vehicles, battery manufacturing, and the global energy transition.
The continued inflow of major mining investments into Zambia is not happening by accident. It is the result of a stable political environment, consistent mining policies, and growing international confidence in Zambia’s economic direction under President Hakainde Hichilema.
For many years, investors feared uncertainty, political hostility, policy reversals, and unstable regulations. Mining investors do not commit billions of dollars into countries where rules change overnight or where politics become toxic and violent. What Zambia is witnessing today is the direct reward of restoring investor confidence and policy predictability.
What is even more significant is that these investments are not isolated incidents. Zambia is also benefiting from existing long-term commitments by major Canadian mining firms such as First Quantum Minerals and Barrick Gold.
First Quantum Minerals continues to expand operations through major projects like the US$1.25 billion Kansanshi S3 expansion, while Barrick has maintained strong operational confidence in Zambia’s mining sector.
These companies are not charities. They invest where they see stability, profitability, and long-term policy direction. The fact that global capital from China, Canada, and the United States is all flowing into Zambia simultaneously should silence those constantly attempting to portray Zambia as collapsing economically.
The reality is simple. Investors follow certainty. They follow peace. They follow governments that honour agreements and create an environment where businesses can plan 10 to 20 years ahead.
Zambia’s peaceful political environment has become one of its strongest economic assets. Unlike countries where elections bring violence, instability, and investor panic, Zambia continues to demonstrate democratic maturity and institutional stability.
This matters greatly in mining because mining investments are extremely capital intensive and require decades of operational certainty.
As Zambia heads towards the general elections this August, it is equally important for political players and citizens alike to avoid reckless, radical, and emotionally charged pronouncements that may undermine investor confidence or destabilize the thriving mining sector merely for short-term political gain.
Mining is currently one of the strongest pillars supporting Zambia’s economic recovery, employment creation, foreign exchange generation, and long-term industrial growth.
Careless political rhetoric, threats against investors, or unnecessary hostility towards the private sector can easily damage the confidence that has taken years to rebuild. Serious investors watch political signals very closely, especially during election periods.
Zambia must therefore protect its reputation as a peaceful, stable, and predictable investment destination if the country is to continue attracting multi-billion-dollar investments from global mining giants such as KoBold Metals, Sinomine Resource Group, First Quantum Minerals, and Barrick Gold.
Furthermore, the government’s push for local content participation, infrastructure development, and energy sector reforms is strengthening confidence that Zambia is positioning itself as Africa’s next major mining and industrial hub.
Critics may continue politicising every development, but the numbers do not lie. Billion-dollar investments are flowing into Zambia because the international market believes in the country’s direction.
From KoBold Metals to Sinomine, from First Quantum to Barrick, the message is becoming increasingly clear: Zambia is once again open for serious business.
The challenge now is ensuring that ordinary Zambians fully benefit from this mining boom through jobs, skills transfer, local business participation, and increased national revenue.
If managed properly, the current mining investment momentum could become one of the greatest economic turning points in Zambia’s modern history.
Dr Catharine Mulaisho, 2022 Tucson Public Voices Award Recipient.
