MINES and Minerals Development Minister Paul Kabuswe has hailed a new era of stability in Zambia’s mining sector, following years of legal disputes that hindered investment and slowed economic progress.
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Speaking at the official launch of the US$1.25 billion Kansanshi Mine S3 Expansion Project yesterday, Kabuswe recounted how many mining operations were previously entangled in court cases, creating uncertainty and prompting some companies to consider leaving Zambia.
“Everybody was fighting in court. My desk was full of appeals and there was confusion all over, and no wonder the economy was growing in the negative,” Kabuswe said.
He credited President Hakainde Hichilema’s leadership for transforming the investment climate and restoring confidence in the sector explaining that the reforms have not only encouraged companies to stay but also to expand.
Kabuswe revealed that the President intervened at a critical time to rescue the economy, which had been contracting sharply.
He added that First Quantum Minerals, one of Zambia’s top taxpayers, had been thinking about leaving the country because the investment climate was unfriendly.
The Minister said the reforms quickly restored investor confidence as FQM reversed its decision to leave and agreed to a US$1.25 billion expansion at Kansanshi, marking a major commitment to Zambia’s mining sector.
“First Quantum did a 360. They turned around and said, ‘We are coming back to Zambia.’ We sat together with them and struck a US$1.25 billion investment for the expansion,” he said.
“People laughed at the numbers, but here it is now for all to see. The S3 project is no longer a number; it’s a reality.”
The S3 project, he said, is proof of this renewed investor confidence and is expected to extend Kansanshi Mine’s life by more than two decades while generating thousands of jobs for Zambians.
By George Musonda
Kalemba August 20, 2025
