In light of KCM’s recent Copper Tech transfer, CEO of the Zambia Chamber of Mines, Sokwani Chilembo is optimistic about KCM being listed in the world’s deepest capital markets. “The biggest institutional aggregators and investors of capital will now have both the Nchanga basin as well as the wider legacy and emergent Zambian Copperbelt top of mind among the world’s copper and critical minerals geological provinces” said Chilembo.
The Zambian Government recently signalled its ambition to significantly scale its copper output to 3 million tonnes by 2031. At the same time, global demand for copper has skyrocketed. The U.S. has elevated copper to its official “critical minerals” list. For Zambia, this signifies an opportunity to position itself as a major player in the global mineral production arena. By aligning KCM with a U.S.-origin company, Zambia positions the mine to tap into U.S. capital markets, benefit from U.S. investor appetite and feed into the demand from the U.S. market for a secure critical minerals supply.
Furthermore, recently announced investments into the Lobito Corridor are predicted to amplify copper trade through increased efficiency. The Lobito Corridor is the infrastructure axis linking Zambia (via the North-Western Province) to the port of Lobito in Angola, and beyond. This corridor is central to the “Global Gateway” agenda of the EU and the U.S., designed to develop strategic African transport and value-chain infrastructure. The recently concluded business forum between 12-14 November 2025, in Lusaka crystallised this priority, with ten new EU-Zambia funding agreements worth €200 million being signed, and the wider Global Gateway mobilising billions for corridor expansion. On this, Chilembo observed that the timing of KCM’s Copper Tech announcement “leverages the Lobito corridor infrastructure drive and will no doubt galvanize the Zambian Government’s resolve to steadily build upon the solid gains made thus far in securing the confidence of global markets.”
Post the reinstatement of its license to operate in August 2024, KCM’s strategic moves point towards a targeted approach towards economic development and gaining back the confidence of the Zambian people. KCM historically has been responsible for a substantial portion of Zambia’s copper output, with one estimate putting its share at 40% of national output. With Copper Tech’s announced raising of US$1.5 billion for capital expansion and modernisation of KCM, the production scale is expected to turn up sharply.
