IDC calls for strategic expansion, diversification of Zambia’s mining sector

The Industrial Development Corporation (IDC) has called for a strategic expansion and diversification of Zambia’s mining sector, highlighting the need to protect new investments and unlock the country’s growing mineral potential.

IDC Chief Executive Officer, Cornwell Muleya, made the remarks during a panel discussion at the Zambia International Mining and Energy Conference (ZIMEC) 2026 in Kitwe, Copperbelt Province, on Thursday.

“Zambia has been mining for over 100 years, and now we are discovering more minerals, so we need to expand the sector. The question is, how do we diversify the sector and de-risk new investments?” Muleya said.

He emphasized that expanding the mining sector would require stronger geological understanding through comprehensive geophysical mapping and exploration activities. Muleya noted that such work was high-risk and capital-intensive, necessitating partnerships with credible investors.

“To achieve this, we need a coordinated framework that allows us to work with credible partners willing to invest in exploration,” he said.

Muleya also highlighted the importance of complementary investments in education, skills development, and infrastructure to sustain long-term growth.

“Developing greenfield investments is the best way to expand because there are limited opportunities in brownfield operations. We need to open more greenfield investments and de-risk them to attract investors,” he said.

The IDC executive further stressed the need to strengthen environmental, social, and governance (ESG) standards across mining operations, noting that responsible practices were essential to maintaining sustainability and public trust.

The panel discussion, themed “Investing Responsibly Across Mining & Energy Value Chains: Upholding Transparency and Accountability Towards a Sustainable Social Licence to Operate,” brought together industry leaders, policymakers, and investors to explore responsible investment strategies.

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