Analysts are suggesting copper production is going to double in the next 25 years.
In February 2024, KoBold Metals, a California-based mining company, announced the discovery of a large copper deposit in Zambia.
Location: Mingomba, near Chingola in Zambian Copperbelt
Size: The largest copper deposit in Zambia in over a century
Potential: The mine could become the World’s third largest copper mine
Production: The mine could produce over 500 000 to 600 000 metric tons of copper when fully operational
Discovery Method: KoBold Metals used AI to search for the deposit, analyzing satellite data and old maps
Investors: The company is backed by billionaires including Bill Gates; Jeff Bezos and Richard Branson
Partners: KoBold Metals is developing the project in a JV with the Zambian Government
Start Date: The project is expected to take off as early as 2027