Zambia and US Launch Copper Mine Joint Venture

Zambia Copper Mine

The Zambia copper mine joint venture between US-based Metalex and Zambia’s Terra Metals marks a significant step in bilateral mining cooperation. The two companies launched Lunda Resources, a partnership aimed at developing the Mwinilunga Copper Mine, which is set to become a key contributor to global copper and cobalt supply chains.

Zambia Copper Mine Joint Venture Targets 100,000t Output

The new Zambia copper mine joint venture will process up to 2mn tonnes of ore annually, producing 100,000 tonnes of copper concentrates, copper cement, and cobalt precipitate. Lunda Resources has already invested ZMW 270mn ($1.2bn) in early-stage development. The full project build-out is expected to reach ZMW 2.7bn, including advanced ore processing systems.

Strengthening Zambia-US Mining Cooperation

This partnership reflects a strategic alignment between Zambia and the US at a time when global copper and cobalt demand is surging. Copper remains central to the global energy transition, while cobalt is vital for battery manufacturing. The collaboration between Metalex and Terra Metals sets a new benchmark for cross-border mining partnerships, combining Zambia’s resource wealth with US investment and technology.

The Metalnomist Commentary

The Zambia copper mine joint venture highlights how resource-rich African nations are leveraging foreign partnerships to expand mining capacity. By aligning with US firms, Zambia strengthens its position in global supply chains while diversifying investment sources beyond China. This project underscores copper’s critical role in electrification and positions Zambia as a key growth hub in Africa’s mining sector.