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09 Feb 2026

Africa Ramps Up Exploration to Supply 70% Surge in Global Demand

Africa Ramps Up Exploration to Supply 70% Surge in Global Demand
Expanding existing copper mines alone will be insufficient to meet the anticipated 70% increase in global copper demand by 2050, presenting an opportunity for Africa – home to the world’s largest share of grassroots copper exploration projects – to attract international exploration financiers. As copper demand climbs toward 50 million tons per annum, requiring $2.1 trillion in investment, Africa is emerging as a key solution to supply shortfalls and a prime opportunity for global financiers.

Exploration and Upcoming Mining Projects

While several African countries are advancing brownfield expansions, a rapidly growing pipeline of new mines and exploration projects is positioning the continent as a critical partner in strengthening global copper supply chain resilience.

In Zambia, a national strategy to lift copper production to 3.1 million tons per annum by 2031 – through the development of new production assets and the exploration of non-producing licences – is driving renewed investment from global partners. Sinomine Resources is targeting first production at its Kitumba Copper Mine in 2026. The $600 million project, expected to produce 50,000 metric tons of copper cathode annually, will not only boost national output but also advance Zambia’s local beneficiation objectives.

Similarly, U.S.-based KoBold Metals is progressing exploration and early-stage mine development at its $2 billion Mingomba Mine, Zambia’s largest copper discovery in a century. Speaking to Energy Capital & Power during an exclusive interview in Cape Town, KoBold Metals CEO Mfikeyi Makayi said “We invested $200 million to define and delineate resources at Mingomba. Our focus is developing underground services infrastructure to enable production in the early 2030s.”

Meanwhile, First Quantum Minerals and Mimosa Resources are expected to commence operations at the Kashime Copper Mine, with output projected to reach 30,000 tons per annum by 2030. Makor Resources is also advancing the Muli Copper Project in Zambia’s Central Province, positioning it as a district-scale copper opportunity.

In the Democratic Republic of Congo (DRC), Ivanhoe Mines announced a major new discovery – the Makoko West extension – in the Western Foreland Basin in February 2025. Ranked as the fifth-largest copper discovery globally over the past decade, the find reinforces the DRC’s position as Africa’s leading copper producer.

Elsewhere on the continent, Angola’s Tetelo Copper Mine – the country’s first large-scale copper operation – entered open-pit production in late 2025 and is set to transition to underground mining in the second half of 2026 to access deeper ore bodies. In Namibia, Koryx Copper is advancing exploration at the Haib Copper Project, while Midas Minerals continues to progress work at the Otavi Copper Project.

Looking Ahead

As copper demand surges and African markets accelerate exploration and project development, the implementation of supportive policies and targeted incentives will be critical. Fast-tracking exploration approvals and mine development timelines will enable African producers to fully capitalize on the demand upswing.

 

 

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