By Sulu Mavuya
Stanbic Bank has hailed the relaunch of Lubambe Copper Mine in Chililabombwe District, Copperbelt Province, as a major milestone for Zambia’s mining industry.
Helen Lubamba, Stanbic’s Head of Corporate and Investment Banking (CIB), says the relaunch is a vital step towards achieving Zambia’s ambitious target of producing 3 million metric tonnes of copper by 2031. She commended the Zambian government for attracting renewed investment and praised Chinese investor JCHX for reigniting operations at the mine.
Lubamba highlighted a strong rebound in the copper mining sector, with 10 large-scale mining companies producing 820,570 metric tonnes in 2024—a 12% rise from 732,580 tonnes recorded in 2023. Key contributors include Barrick Gold’s Lumwana Mine, Vedanta’s Konkola Copper Mines, and Mopani Copper Mines under UAE’s International Resources Holding.
She projected that copper output will reach 1 million tonnes by the end of 2025, setting the country firmly on the path to long-term economic growth through mining.
“Zambia’s mining sector is on an upward trajectory, and the relaunch of Lubambe is a significant piece of that puzzle,” she noted.
