KoBold Metals and ZCCM-IH Initiate Mingomba Copper Mine Development
On April 29, 2026, KoBold Metals and ZCCM-IH commenced shaft construction at the Mingomba copper mine in Zambia, following a $150 million investment by KoBold. This project signals a significant shift in the region's copper production landscape, with a targeted output of 300,000 tonnes annually by the early 2030s.
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KoBold Metals and ZCCM-IH began shaft construction at the Mingomba copper mine on April 29, 2026, following a $150 million investment. The project aims for an annual production of 300,000 tonnes starting in the early 2030s, with capital expenditures projected between $2.3 and $2.5 billion.
The mining venture is supported by a concurrent development of the Lobito Corridor railway, which is expected to enhance logistical capabilities for copper transport. The collaboration with ZCCM-IH, which holds a 20% stake, aims to increase its position to 25%. Historical drilling efforts by previous stakeholders, including Anglovaal and TEAL, laid the groundwork for current operations, while KoBold's machine-learning technologies have integrated a century of geological data to optimize future exploration.
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