Zambia

Vedanta's Konkola Copper Mines signed a USD 498 million engineering, procurement and construction contract with China NERIN Engineering. The deal covers a tailings-leaching plant at Chingola that is expected to add 70,000 tonnes of copper a year. It fits the government's goal of 3 million tonnes of annual output by 2031 and creates contracting and supply openings on the Copperbelt.

Reuters via CNBC Africa · 2026-09-17

The commodities trader Mercuria reportedly committed USD 250 million alongside the investor Exergy to Zambian power generation, transmission and trading projects. Money is to be released in tranches as each project wins approval from the Energy Regulation Board. This is a sign that private capital is moving into the electricity shortfall, though actual new capacity depends on those approvals; the deal is reported by an industry analysis site, not yet confirmed by a primary source.

Discovery Alert · 2026-09-25

The government's suspension of the 10% export duty on copper concentrates was set to expire on 30 September 2026. It covered quotas totalling 271,742 tonnes held by Mopani, Lumwana, First Quantum, NMMPC, Lubambe and KCM while smelters were under repair. We found no confirmation of whether the duty was reinstated or the waiver extended again. Firms exporting concentrate or relying on smelter capacity should check the current position with the Zambia Revenue Authority.

Reuters via MINING.COM · 2026-09-30

At its 28-29 September meeting the Bank of Zambia cut the policy rate by 250 basis points to 10.75%. It cited inflation coming in below forecast and now projects an average of 6.0% in 2027, which points to cheaper kwacha credit for local operations and suppliers.

Bank of Zambia (Monetary Policy Committee Statement, September 2026) · 2026-09-29

Annual inflation fell to 6.1% in September from 6.2% in August, near the bottom of the 6-8% target band, and food inflation eased to 5.8%. The central bank credits a record 4.9 million tonne maize harvest and a kwacha strengthened by mining export earnings and its December 2025 currency directives. A firmer currency lowers import costs but reduces the local-currency value of export revenue.

Zambia Statistics Agency; Bank of Zambia · 2026-09-24

The statistics agency's final 2025 GDP estimate shows real growth of 5.4%, up from 3.8% in 2024. Our database figure of 3.76% for 2025 appears to match the 2024 rate and should be checked (we could not confirm when the estimate was released). Separately, the President told Parliament that a USD 1.36 billion Eurobond buyback has been completed, which lowers the cost of external debt service.

Zambia Statistics Agency; Lusaka Times (Presidential address) · 2026-10-10

After the August election, President Hichilema named his first ministers of the new term on 14 September, keeping Situmbeko Musokotwane as Finance Minister. That points to continuity in fiscal policy, debt management and talks with investors.

Cabinet Office, Republic of Zambia · 2026-09-14

Opening the 14th National Assembly, the President warned of a possible 'Super El Niño', said there would be no exceptions in the fight against corruption, and pointed to wider use of public-private partnerships, joint ventures and bonds to fund development. A drought would hit hydropower-dependent electricity supply and farming, so entrants should plan for backup power.

Lusaka Times · 2026-10-10