Mining Policies “Attractive” For International Investment, Says Canada
Zambia is an “attractive” destination for international investment due to policy stability in the mining sector, says a spokesman for the Canadian Government.
Canadian High Commissioner Kyle Nunas praised government commitment to improving mining policy, highlighting its projected long-term stability, which will now attract further international investment by offering predictability and confidence.
Zambia’s mineral-rich land possesses some of the world’s highest-grade copper deposits. Sparking a new ‘bronze rush’ for the new age of green energy, international mining companies have flocked to Zambia to extract the metal, which is key to renewable energy infrastructure. More Canadian firms have expressed renewed interest in potential investments related to the discovery of vast copper deposits at Ming'omba Mine by US-owned KoBold Metals earlier this month. Current Canadian investments include a $2 billion investment by Barrick Gold Corporation to expand its Lumwana mine, and a further $1 billion from First Quantum Minerals to expand its Kanshanshi copper and gold mine in Zambia’s North-Western Province.
In a post on X today, the High Commission of Canada to Zambia stated its continued interest to enhance commercial engagement in the country, noting the “great discussions with Northwestern Chamber of Commerce and Industry and MSTA Canada regarding opportunities in mining equipment and services”, adding that “great discussions bring great things.”
While the focus is currently on mining enterprises, North Western Province Permanent Secretary Grandson Katambi encouraged Canadian investment diversification into Zambia's agricultural sector, which makes up over half of total employment in the country. With an increase in crop diversification in recent years, as well as being one of the few countries in the region to have an annual surplus of cereal crops, Katambi highlighted the sectors potential for mutually beneficial partnerships and economic growth.