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Finance Minister, Dr. Situmbeko Musokotwane, says the government is targeting one million tonnes of copper production in 2026, highlighting “major milestones” in the mining industry as he unveiled the K253.089 billion budget.
Speaking during the 2026 budget presentation in Parliament in Lusaka on Friday, Musokotwane said the performance of the mining sector had improved.
“Copper production increased to 820,676 tonnes in 2024 from 736,747 tonnes in 2023. In 2025, the target of one million tonnes of copper production is already in sight as we continue with the journey towards three million tonnes target per annum by 2031,” he said.
“The positive performance has been on the back of a stable mining tax and regulatory regime and settling disputes out of court,” he added.
He said this stability had encouraged the reopening of old mines, attracted new investments, and revitalised activity at existing mines.
Musokotwane maintained that notable milestones had already been attained towards this goal, pointing to the commissioning of the First Quantum Minerals S3 Expansion Project to enhance annual production to 270,000 tonnes.
He also noted that production was being upscaled at existing mines such as Barrick Lumwana Super Pit, Konkola Copper Mines, Lubambe Copper Mine, and Mopani Copper Mines, which have a combined production capacity of 593,000 tonnes per annum.
“Lastly, new mines like Mwekera Copper Mine, Mingomba Mine, and Kitumba Mine, with a combined production capacity of 700,000 metric tonnes per annum, are at an advanced stage. With these developments, the Zambian economy, which is already growing, will reach very impressive levels within the next two years,” Musokotwane told Parliament.
On artisanal and small-scale miners, he said the segment also performed remarkably well during the government’s tenure, with copper production projected at over 80,000 tonnes this year, a significant rise from 13,300 tonnes in 2020.
“Both artisanal and small-scale miners are also contributing to the production of gemstones, gold, and manganese. To formalise artisanal and small-scale mining, 1,498 licences have been issued since 2023,” he said.
However, he observed that increased incidences of accidents and deaths due to unsafe mining practices remained a concern, adding that the problem was being addressed by government, with the necessary financial resources allocated in this budget.
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