Zambia, Africa’s second-largest copper producer, is spearheading an initiative to create a pan-African metals and minerals exchange.

Quoting Bloomberg News, MiningMx reports that the exchange will help the country derive greater benefit from its mineral wealth through beneficiation.

Jito Kayumba, a financial adviser to President Hakainde Hichilema, who is facing re-election in September, said the initiative hopes to address ‘growing discontent’ among citizens who are calling for greater local participation in mineral wealth. The idea of a metals exchange is part of the president’s election manifesto.

‘The desire of many young Zambians as well as a lot of Africans across the continent is to be greater participants in the minerals that come from their soils,’ Kayumba said.

The  DRC, Guinea, Ghana and Zimbabwe are among the countries that are pursuing reforms to expand local refining, ownership and export restrictions on raw minerals.

The initiative expands on a 2024 metals-trading joint venture between Zambia’s Industrial Development Corporation (IDC) and metals trader Mecuria Energy Group. In terms of the deal the IDC buys concentrates on commercial terms from mines in Zambia through Mercuria whenever there is limited smelting or market capacity.

Kayumba said Zambia had already discussed the possibility of setting up a minerals exchange with the DRC and two other countries.

4 August 2026
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