ZCCM-IH Forms Gold Joint Venture to Formalise Artisanal Mining in North-Western Province

Zambia's state-controlled mining investment firm has established a joint venture aimed at formalising the artisanal gold trade in the country's North-Western Province and developing local processing capacity.

ZCCM Investments Holdings Plc announced on Monday that it will hold a 51% stake in Kyalo Goldfields Ltd, with Mining Mineral Resources Sprl holding the remaining 49%. The new company, incorporated on 6 May, will operate in an area of North-Western Province that became the site of a disorderly gold rush last year.

According to ZCCM-IH, Kyalo's principal activities will include supporting the formalisation of safe artisanal mining in the Kikonge area, introducing more mechanised gold production, and developing processing capabilities within the country.

The firm said the joint venture represents a key step in its strategy to expand its footprint in the gold sector and strengthen Zambia's gold value chain.

Thousands of people descended on Kikonge from the middle of 2025 to dig for the precious metal, which has experienced a record-breaking price rally in recent years. Security forces later intervened to clear artisanal miners from the site.

Mining Mineral Resources is headquartered in the neighbouring Democratic Republic of Congo, where, in addition to gold, it specialises in mining and processing tin, tantalum and tungsten. Another firm within the same group is already a shareholder in a joint venture that launched Congo's first state-backed gold refinery in March.

Both Zambia and the DRC are seeking to capture greater value from a trade historically associated with smuggling, which deprives governments of tax revenues.