Zambia’s Mineral Strategy: Turning resource wealth into sustainable economic power models
Zambian Social Economist Kelvin Chisanga
By Kelvin Chisanga
Zambia’s mineral strategy must evolve from dependence on commodity price cycles toward a deliberate, long-term development model that transforms mineral wealth into broad-based economic growth.
With copper and cobalt firmly positioning Zambia within the global critical minerals landscape, the focus should no longer be on extraction alone, but engage on value additions, stability and resilience.
Recent movements in global mineral prices have highlighted on both opportunity perspectives and risk profiles.
While higher prices strengthen Zambian export earnings, foreign-exchange inflows and fiscal revenues, they also expose the economy to volatility if not managed prudently.
Zambia’s mineral base and strategy should therefore prioritise macroeconomic discipline at all possible costs, ensuring windfall gains are perfectly used to build fiscal buffers, support kwacha stability and protect the economy from boom-bust cycles.
Equally critical is value addition. Expanding local processing, refining, and downstream industries particularly those linked to electric vehicles, renewable energy, and battery supply chains can deepen job creation and industrial capability.
This must further be supported by policy consistency and regulatory certainty to attract long-term investment.
Ultimately, Zambia’s mineral strategy should serve as a clear dynamic platform for economic diversification, using mining revenues to strengthen fiscal obligations, strengthening agriculture, manufacturing and energy infrastructure projects.
The goal going forward should also be clear: to convert Zambia’s mineral endowment into lasting national prosperity, not temporary gains tied to fluctuating global market patterns.
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