Zambia Pushes Gold Expansion as ZCCM-IH Launches New Mining Venture in North Western Province
ZCCM Investments Holdings Plc has moved to strengthen Zambia’s growing gold sector after announcing a joint venture with Mining Mineral Resources (MMR) to explore and mine gold in North Western Province.
ZCCM-IH said in an official statement that the partnership has resulted in the incorporation of Kyalo Goldfields Limited (KGL), a company that will spearhead gold exploration and potential mining activities in the Kikonge area of Mufumbwe District.
The state-backed mining investment firm said it will hold a 51 per cent stake in the venture, while Mining Mineral Resources will own the remaining 49 per cent.
The development comes as Zambia intensifies efforts to diversify its mining industry beyond copper, in line with government policy aimed at expanding investment in strategic minerals such as gold, manganese, lithium, and rare earth elements.
Government officials have repeatedly identified mineral diversification as a central part of Zambia’s long-term economic agenda, arguing that increased investment in alternative minerals could help boost export earnings, create jobs, and reduce dependence on copper revenues.
In its statement, ZCCM-IH said the venture is expected to support structured and regulated gold mining operations in an area where artisanal mining activities have previously taken place.
The company added that the initiative will focus on responsible mineral development, environmental management, and greater local participation in the mining value chain.
ZCCM-IH also stated that Mining Mineral Resources brings regional mining experience from the Democratic Republic of Congo, where it has been involved in the extraction of tin, tantalum, and tungsten.
Industry analysts say the latest move reflects increasing interest in Zambia’s gold potential, particularly in North Western Province, which has attracted growing exploration activity in recent years due to its significant untapped mineral deposits.
The Zambian government has also been pushing for the formalisation of artisanal and small-scale gold mining as part of broader efforts to improve regulation, increase mineral traceability, and expand value addition within the sector.
ZCCM-IH further disclosed that technical assessments and project planning are currently underway following the incorporation of Kyalo Goldfields Limited earlier this month.
The company added that initial funding for the project will come from shareholder contributions, while additional financing options may be considered as the venture progresses.
