The Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH) says the commissioning of the US$1.25 billion Kansanshi Mine S3 expansion project represents a turning point for the country’s mining industry and overall investment portfolio.
Board Chairman Phesto Musonda said the launch of the S3 project, situated at the Kansanshi Mine in Solwezi, North-Western Province, reflects renewed investor confidence in Zambia’s economic management and governance reforms under the United Party for National Development (UPND) administration, now in its fourth year.
Musonda explained that no investor would commit such a massive amount of money without faith in the operating environment. He described the project as a clear signal that Zambia’s policy direction is restoring stability in the mining sector, which remains the backbone of the country’s economy.
He said, “The S3 is a significant milestone in our investment portfolio. This project will secure existing jobs, create new ones and raise copper output across all our Zambian operations. The launch of this project symbolizes progress in stabilizing the mining sector.”
Musonda commended President Hakainde Hichilema, who last week officially commissioned the plant, describing the project as a “game-changer” for Zambia’s development. He added that the project, spearheaded by First Quantum Minerals (FQM), is one of the largest private sector investments in Zambia in recent years.
According to Musonda, the scale of the investment demonstrates both renewed investor trust and the government’s efforts to establish sound macroeconomic policies. He also highlighted reforms in the energy sector, which he said are providing a stronger foundation for long-term mining growth.
He added, “An investment of this magnitude will irrevocably alter Zambia’s mining landscape, ushering in a new era of production, technological advancement, and sustained economic contribution from North-Western Province.”
The Kansanshi S3 expansion, which is expected to extend the life of Zambia’s largest copper mine by 25 years, aims to boost annual copper production to 240,000 tonnes by 2029. This increase is expected to strengthen Zambia’s position as a key supplier of strategic minerals, particularly copper, which is vital to the global energy transition and renewable technologies.
Analysts note that Zambia, Africa’s second-largest copper producer after the Democratic Republic of Congo, is under pressure to ramp up production in response to rising global demand. Copper is essential for clean energy infrastructure such as electric vehicles, solar panels, and wind turbines. With the S3 expansion, Zambia will be better positioned to capture more value from its mineral resources.
The project also promises significant socioeconomic benefits. Apart from job security for thousands of existing workers, the expansion is expected to create new employment opportunities for local communities. The government has stressed that mining investments must have broader developmental impact, particularly in provinces like North-Western, where mining dominates the economy.
The launch of the project also signals continuity in Zambia’s efforts to attract foreign investment into its extractive industries. In recent years, policy uncertainty and disputes with mining companies had created tensions in the sector. However, observers say the S3 expansion shows that relations between the government and investors are improving.
For President Hichilema, the expansion fits into his wider agenda of economic stabilisation, debt restructuring, and investor confidence-building. By prioritising mining reforms and infrastructure support, his administration hopes to unlock more investments that can drive inclusive growth.
Musonda emphasised that Zambia is now entering a phase of renewed mining growth, underpinned by both domestic policy reforms and the confidence of international investors like FQM. He noted that the country’s mining strategy must also prioritise sustainability and local beneficiation, ensuring Zambians fully benefit from resource exploitation.
Zambia’s mining sector contributes more than 70% of export earnings and remains a crucial source of government revenue. The Kansanshi S3 expansion, therefore, is seen as vital not only for the mining industry but also for Zambia’s broader economic stability.
With the expansion set to run until 2029 and beyond, industry experts say Zambia now has a unique opportunity to leverage its mineral wealth, diversify its economy, and strengthen its role as a reliable global supplier of copper in the clean energy era.
