Zambia launches first gold refinery to boost mineral sector

Zambia has unveiled its first gold refinery, operated by Minera Refineries Zambia Limited, as part of a national strategy to add value to mineral resources locally and reduce dependence on copper exports. The facility, launched during the Mining and Investment Insaka, is capable of processing gold to 99.99% purity using modern equipment and an in-house laboratory.

ZCCM Investments Holdings Plc (ZCCM-IH) Chairperson Phesto Musonda noted that while Zambia’s official gold production was approximately 127,000 ounces last year, significant discrepancies exist between formal figures and trade data. For instance, the United Arab Emirates imported nearly US$1.8 billion worth of gold from Zambia in 2023.

The government aims to formalize artisanal and small-scale mining to improve traceability, enhance regulatory oversight, and retain more economic value within the country. Officials believe formalizing the sector could unlock over US$1.8 billion in economic value, strengthening national reserves and economic resilience.