African Mining Indaba: Sokwani Chilembo on what makes Zambia attractive to investors

The African Mining Indaba 2023 brought together key players in the mining industry to discuss the future of mining in Africa. One of the prominent figures at the event was Sokwani Chilembo, the CEO of the Zambia Chamber of Mines. In an exclusive interview with CNBC Africa, Chilembo shed light on the immense potential that Zambia holds for investors in the mining sector. As the country aims to ramp up copper production over the medium term, the role of business in achieving this goal is vital. Chilembo emphasized the importance of collaboration between the government and businesses to create a conducive environment for investment and growth. He pointed out that Zambia has the capacity to attract exploration capital, citing examples from South American countries like Chile and Peru. With an annual target of $200 million for exploration, Zambia is poised to enhance its reserves and meet the government's production goals. Despite challenges inherited by the government, Chilembo expressed optimism about the improving relationship between the industry and the authorities. The recent changes in mineral royalty regimes and the removal of duties on capital equipment demonstrate the commitment of the government to support the growth of the mining sector. Zambia's advantageous position as a green energy hub with hydroelectric power further enhances its appeal to investors looking for sustainable ventures. The country's rich mineral deposits, including copper, nickel, lithium, rare earths, and cobalt, present a diverse range of investment opportunities in the battery mineral space. Chilembo highlighted the potential for partnerships and collaborations with mining companies, particularly in the Copper Belt region and other mining zones across the country. Zambia's strategic location, skilled workforce, and abundance of mineral resources make it a prime destination for mining investments. As the mining industry continues to evolve, Zambia stands out as a land of opportunities for investors seeking to capitalize on its vast mineral wealth and sustainable practices.