Zambia's Third-Place Africa Mining Ranking to Attract More Investment

Mine expert Kenny Nyirenda says Zambia's ranking by the Fraser Institute of Canada as the third-best mining destination in Africa is likely to attract more investment into the country.

Dr Nyirenda said the ranking signals to investors that Zambia offers a favourable investment climate supported by a stable mining policy framework.

"This could lead to increased foreign investment in the extractive industry, as many investors consider Zambia a secure and profitable destination for mining ventures," he said.

Canada's High Commission to Zambia Chargé d'Affaires Corry van Gaal said the Fraser Institute ranking could encourage more Canadian mining companies to consider Zambia as an investment destination.

Ms van Gaal said the Fraser Institute report carries weight, particularly because Canada is one of the world's largest mining jurisdictions.

She added that the development offers an opportunity for Canada and Zambia to strengthen cooperation in the mining sector as Zambia works towards producing three million metric tonnes of copper by 2031.

The Fraser Institute's annual survey of mining companies assesses jurisdictions worldwide based on policy factors that encourage or discourage mining investment.