Zambia's government has promised to clear the remaining hurdles in front of KoBold Metals' Mingomba copper project, which it expects to become the country's biggest copper mine.

Finance and National Planning Minister Dr Situmbeko Musokotwane gave the assurance when he received a KoBold delegation led by the company's president, Dr Josh Goldman, the Lusaka Times reported on 28 October.

Government commits to clear outstanding issues

"Mingomba is a transformational project for Zambia." Dr Situmbeko Musokotwane, Minister of Finance and National Planning

Musokotwane said the government is committed to addressing all outstanding matters so that the project moves forward without delay. He tied Mingomba directly to Zambia's goal of producing 3 million tonnes of copper a year under the Grow Zambia Agenda 2031.

"Mingomba is a transformational project for Zambia. It aligns perfectly with our agenda to grow the economy and achieve 3 million tonnes of copper production," Musokotwane said.

The minister did not specify which issues remain open.

KoBold wants to move faster

Goldman said KoBold wants to work closely with government to fast-track the mine, and argued that the company, government and other stakeholders can solve problems together as they arise. He said the project will create jobs for Zambians and lead to more discoveries through KoBold's exploration technology.

"We are committed to transparency and to building a partnership that creates jobs, unlocks more discoveries, and delivers long-term value for the people of Zambia," Goldman said.

A deep, high-grade build

Mingomba sits near Chililabombwe on the Copperbelt, close to the border with the Democratic Republic of Congo. President Hakainde Hichilema launched shaft sinking at the site in April 2026, according to Zambia Monitor.

Bloomberg reported at the time that KoBold expects to spend more than US$2.3 billion on the mine, which is planned to produce more than 300,000 tonnes of copper a year. The orebody lies about 1,700 m below surface, in an area known for heavy groundwater inflows that will need large pumping capacity.

KoBold, backed by investors including Bill Gates and Sam Altman, bought the project in December 2022. It started construction before its engineering studies were finished; a final cost estimate is expected once that work is completed in early 2027. The company is still weighing smelting and refining options. The Zambian operation is led by KoBold Africa chief executive Mfikeyi Makayi, who said at the groundbreaking: "We cannot afford to go slow."

Why it matters

Hichilema wants Zambia's copper output to more than triple early in the next decade, Bloomberg reported, and that target depends on new mines on the scale of Mingomba. Faster permitting and a working partnership with government would bring forward jobs, contracts for Copperbelt suppliers and copper supply for the wider region, while showing other explorers how quickly Zambia can move a discovery into construction.

Source: Lusaka Times, with background from Bloomberg (via MINING.COM) and Zambia Monitor.