Work to sink the shaft of what is set to become one of Zambia’s biggest copper mines could start as soon as 2026.

The news about the Mingomba mine, situated in Zambia’s Copperbelt province, follows a meeting between President Hakainde Hichilema and officials of AI mining exploration company KoBald Metals, whose backers include Microsoft founder Bill Gates and Virgin’s Richard Branson.

KoBald is set to invest US$2.3 billion in the project, which is projected to produce 300 000 tons of copper a year, reports Engineering News.

Zambia aspires to become one of the world’s largest producers of copper, an integral material in the manufacture of electric vehicle batteries and wind turbines.

18 June 2024
Image: KoBold Metals