Mingomba Copper Project

Overview

Mingomba is potentially the most significant copper discovery in Zambia in a century, identified by Silicon Valley startup KoBold Metals using artificial intelligence to analyse geological data that traditional exploration had overlooked for decades.

Backed by investors including Bill Gates, Jeff Bezos, and Jack Ma through $537 million in funding, KoBold has drilled over 120,000 metres at the site since 2022 — more than the total drilling on the legacy licence since Zambian independence. The deposit shows copper grades of approximately 5%, comparable to the world-class Kamoa-Kakula mine in the DRC.

In October 2025, KoBold CEO Kurt House announced to President Hichilema that construction of Mingomba Mine would begin in 2026, with a groundbreaking ceremony planned for April. Shaft sinking was scheduled to commence in the first half of 2026 following over $300 million invested by end of 2025.

Zambian President Hichilema has stated that Mingomba could produce 'well over 500,000 to 600,000 tonnes' at full capacity, while ZCCM-IH projects 400,000–500,000 tonnes annually. The estimated development cost is approximately $2 billion. If realised, these figures would make Mingomba one of the world's top three copper mines and would roughly double Zambia's current national production.

Operations

As of early 2026, Mingomba is in the advanced exploration and pre-development phase. KoBold has completed extensive delineation drilling to characterise the resource and conducted engineering studies for mine development.

The mine will be developed as an underground operation, requiring shaft sinking, dewatering systems, and processing plant construction. KoBold has indicated that existing Copperbelt infrastructure can help reduce development costs.

KoBold Metals Africa is led by CEO Mfikeyi Makayi, the first female head of a Zambian mining company. The company has partnered with Stanford University, the Copperbelt University, and the University of Zambia on Master of Science scholarships in data science and exploration geology.

KoBold is also exploring other targets on the Copperbelt, including the Dumbwa prospect, with plans to find additional tier-one deposits in the region.

Corridor Connection

Mingomba is located on the Zambian Copperbelt, in the heart of the region that the Lobito Corridor's Zambia greenfield extension aims to connect to the Atlantic. If production reaches the projected 300,000–500,000+ tonnes, Mingomba would become the corridor's single largest potential customer in Zambia. KoBold's description of itself as the 'largest American investor in Zambia' aligns with the US strategic interest in the corridor as a critical minerals supply chain route.

Diligence Focus

Community Impact

Mingomba has already created approximately 670 jobs of a 700 pre-development target, primarily employing Zambian nationals across geoscience, engineering, and operations roles. KoBold actively sources goods and services from local Zambian businesses through supplier engagement programmes including Pitch Days in Lusaka and Kitwe.

President Hichilema has positioned Mingomba as a flagship example of Zambia's renewed mining sector and the result of the country's investor-friendly policy reforms since 2021. The project is central to Zambia's ambition to increase national copper production to 3 million tonnes by 2031.

Environmental Profile

Environmental and social impact assessments are in progress for the development phase. As an underground mine, Mingomba will have a smaller surface footprint than open-pit alternatives.

Water management for underground mining at depth, tailings storage design, and power sourcing will be key environmental considerations. The USTDA has provided a $2 million grant for Environmental and Social Impact Assessment work related to corridor infrastructure in Zambia.

ESG Assessment

Timeline

Related Pages

Independent ESG Assessment

Our independent ESG assessment evaluates this operation's environmental management, social impact, governance quality, and disclosure transparency. Environmental assessment covers water management, waste handling, air emissions, biodiversity impacts, and mine closure planning. Social assessment examines community relations, employment practices, local procurement, benefit-sharing, and human rights performance. Governance assessment evaluates corporate transparency, anti-corruption measures, and stakeholder engagement quality.

Assessment findings are incorporated into our quarterly Corridor ESG Scorecards, providing stakeholders with comparable, independent ratings across all major corridor mining operations. Operations meeting our assessment thresholds are eligible for verified ESG ratings issued from our evidence archive — verifiable reputation signals that differentiate responsible operators from those whose ESG claims are unsubstantiated. Rating publication requires demonstrated performance, not just policy commitments.

Community Impact Monitoring

Community impact monitoring around this operation tracks the full spectrum of mining effects on surrounding populations. Employment and procurement spending quantify direct economic benefits to local communities. Environmental monitoring tracks water quality, air quality, and ecosystem health in areas affected by operations. Community consultation processes are evaluated for meaningful participation versus performative compliance. Grievance mechanisms are assessed for accessibility, responsiveness, and outcome fairness.

Our monitoring provides the independent verification that enables stakeholders — investors, regulators, civil society, and affected communities themselves — to assess whether this operation delivers the community benefits that its social licence to operate requires. Documentation is preserved on our source evidence archive, creating permanent records that support long-term accountability and prevent the revisionism that undermines community claims when corporate memory proves conveniently selective.