Zambia Expansion of Copper Mining in 2024 can Result in Stronger Economy
Zambia Expansion of Copper Mining in 2024 can Result in Stronger Economy
By Shubhendra Anand , 17 February, 2025
Zambia is expanding its energy sector with an increase in copper mining. The global energy sector will further go through significant changes throughout 2024. The changing dynamics of the metal industry have brought several changes to the economic sector. The copper industry is booming in the energy sector due to the use of artificial intelligence in 2024. A survey in 2024 shows that artificial intelligence drives Zambia's copper demand.
Experts say that due to the exponential growth of artificial intelligence, copper demand in Zambia is increasing in 2024. Therefore, Zambia attracts the attention of the global energy sector and other mining companies. Studies show that Zambia will succeed in expanding the copper industry, which can bring good results for the country's mining industry by 2050. Further, it can provide necessary raw materials for cleantech development. Moreover, Zambia's copper industry growth can help improve the clean tech pipeline. Thus, it indicates that if Zambia continues to increase copper mining, it can become a critical minerals hub. Zambia's economy is dependent on copper mining. Its heavy reliance on copper mining results in 70 percent of Zambia's export revenues. Experts claim that the demand for copper will grow in the upcoming years. Therefore, Zambia can gain good results when the copper prices increase by double the primary rates. Hence, high copper prices can provide a high price for copper exports in Zambia. Therefore, it anticipates several economic changes in the energy sector.
Based on the survey data, Zambia has the potential to become the largest supplier of copper in the world. Artificial intelligence and electric vehicle production are the main factors driving the copper demand 2024. Zambia is currently the hub for copper to meet energy demands. Therefore, copper can provide good results to Zambia's economy. Further, the nation can attract foreign investments in its copper industry. This is due to Zambia's significant expansion of copper mining.
The graph forecasts Zambia's GDP growth and its trends till 2024:
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