Zambia’s 3-million tonne copper target achievable says President Hichilema.
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Zambia’s 3-million tonne copper target achievable says President Hichilema.
There are challenges, but Zambia is on target for 3-m tonnes.
By Leon Louw founder of WhyAfrica and Endorphin Expeditions.
If you still think that Zambia is not serious about achieving their ambitious target of producing 3-million tonnes of copper per annum by 2031, think again.
Under raucous applause and shouts of “Bally we love you” Zambian President Hakainde Hichilema took to the stage yesterday afternoon at the 13th edition of the ZIMEC conference in Kitwe, and in characteristic HH style, mapped out the route of how Zambia will get to their 3-million destination.
It was the first time in ZIMEC’s history that a sitting president attended the event.
Upbeat mood in Kitwe
No one in the room was more upbeat about mining than President Hichilema, himself, and his enthusiasm rubbed off.
Many investors that I spoke to after his speech, were extremely bullish about Zambia’s current trajectory.
During his speech the president emphasised the importance of investors, partners, regional development and local content.
He invited more investors to Zambia giving his assurance that Zambia is one of the safest investment destinations in Africa.
Mining and energy is hand in glove
“Mining and energy are extremely important to Zambia’s economic reconstruction and economic growth,” he said.
“We set a 3-million tonnes per annum target for copper and remember we’re talking about copper only. Keep in mind that Zambia has a wide range of other minerals too.
“However, we chose copper because it’s critical for the energy transition.”
“But it will not be possible to achieve that target without energy, the two are hand in glove,” he said.
Heavy lifting has been done
The road to recovery has been a rocky one for President Hichilema and his team having had to deal with a three-year drought that affected energy supply and on top of that a deluge of debt issues.
But after four and a half years they have done the heavy lifting.
With debt restructured and the rule of law restored, other challenges like fighting the drought, macro stability and fiscal consolidation is under control and with inflation on a downward curve, Zambia is looking more like a serious contender for the most attractive mining destination in Africa.
Image: President Hichilema in full flight at yesterday’s ZIMEC conference in Kitwe. Image credit: Leon Louw for WhyAfrica
Zambia’s 3-million tonne copper target achievable says President Hichilema.