Mopani Copper Mines Plc is moving forward with a $1.9 billion expansion project, including a new $400 million investment aimed at increasing copper cathode production to 226,000 tonnes by 2028. The development is expected to contribute 7.5 percent toward Zambia’s national target of three million tonnes of copper.
Speaking on ZNBC Radio Two on Saturday, Chief Executive Officer Charles Sakanya said the mine is on track to account for 10 percent of Zambia’s three million-tonne copper target by 2031, largely due to the $400 million investment from Mopani’s new equity partner.
Sakanya explained that the expansion projects were initially estimated to cost $1.9 billion. By the time the previous shareholder exited, $1.5 billion had already been spent. The additional $400 million now pledged is set to complete the planned upgrades and enable Mopani to maximize production capacity.
The CEO highlighted that the investment will support the company in meeting growing global demand for copper while reinforcing Zambia’s position as a leading copper producer. The expansion will enhance operational efficiency, increase output, and create jobs and skills development opportunities for local communities.
Mopani’s project forms part of Zambia’s broader strategy to achieve sustainable growth in the mining sector and secure the country’s goal of producing three million tonnes of copper annually by 2030. The Government and industry stakeholders continue to monitor such investments as critical drivers of economic development, foreign investment, and value addition in Zambia’s mining industry.
With the new investment and ongoing expansion, Mopani Copper Mines is poised to strengthen its contribution to national copper production targets while promoting local participation and economic empowerment.