Zambia Approves Mining Law Reforms to Boost Copper Production

Forex - It has been reported that the Zambian parliament has approved two mining reform bills, which are expected to be signed by the President soon. The Mining Regulations Commission Bill and the Geological and Mineral Development Bill will replace the existing Mines and Mineral Development Act of 2015 and are central to the strategy aimed at raising the country’s annual copper production from the current 800,000 tons to approximately 3 million tons by 2031. Chief Exploration Geologist of the Ministry of Mines and Mineral Development, Chaanza Chifwepa, stated that the reforms aim to enhance transparency, attract investment, and strengthen compliance in the sector. The newly established Investment Promotion Department will work alongside a Special Purpose Vehicle set up by the Ministry to facilitate public-private partnerships for mining projects, starting from the exploration phase.