Zambia's mining industry, comprising of industrial, precious, semi-precious metals and stones, is centered around copper production, which accounts for more than 75% of the country's total exports and contributes more than 36% to total government revenues as of 2022. Currently, Zambia is Africa's second largest producer of copper and among the top 10 countries globally, with an annual production of around 1 million tons in 2022. Recently, the country has attracted investments from foreign mining companies such as First Quantum Minerals, Barrick Gold, and Vedanta Resources, employing around 70,000 workers. The sector has also experienced a growth rate of ~8% in the last 3 years. However, the sector faces a number of challenges including volatility in global copper prices, an unstable regulatory environment and persistent power shortages which have hampered long-term sustainable growth.

By addressing these challenges and leveraging the strengths of the Zambian mining sector, companies can transform the sector and support the country's long term growth outlook. By embracing innovation and sustainable practices, Zambia's mining sector has the potential to become a key driver of economic growth and become a hub of mining investments in Africa.

At Red Black Ventures, we believe that unlocking the full value of the Zambian mining sector requires a deeper understanding of its unique challenges and opportunities. We keep a close eye on market trends, gather data, and work with businesses to develop effective strategies that help them succeed in the sector.