BHP eyes large-scale copper exploration in Zambia as global demand surges

Mining giant BHP is considering a return to large-scale exploration in Zambia, as rising global demand for copper drives renewed interest in Africa’s mineral-rich regions, the country’s mines ministry said.

The move signals a potential shift by the world’s largest miner back toward the continent, after years of limited direct engagement following its 2015 spin-off of non-core assets into South32.

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Zambia, Africa’s second-largest copper producer after the Democratic Republic of Congo, is seeking to more than triple its output by 2031 and has stepped up reforms to attract foreign investment into its largely underexplored deposits.

Officials say BHP is particularly interested in identifying large, high-quality copper resources that have remained undetected using conventional exploration techniques.

“Many of the remaining large deposits are either deeply buried or hidden beneath geological cover,” said Campbell McCuaig, BHP’s head of global generative exploration, during recent meetings in Lusaka.

He said the company is deploying advanced geological modelling and large-scale data analysis to identify “mineral systems” — the underlying processes that form major copper deposits — rather than relying solely on surface indicators.

The approach reflects a broader shift in the mining industry toward data-driven exploration, as easily accessible deposits become scarcer and companies look to unlock more complex resources.

BHP’s renewed interest comes amid a global surge in copper demand, driven by the energy transition. The metal is a key component in renewable energy systems, electric vehicles and power infrastructure, making it critical to decarbonisation efforts worldwide.

Analysts expect copper demand to rise sharply over the coming decades, intensifying competition for new supply and pushing companies to explore frontier regions.

Zambia has positioned itself to benefit from this trend by introducing reforms aimed at improving transparency and access to geological data.

These include the digitisation of historical geological records and the rollout of government-backed airborne geophysical surveys, designed to provide investors with more accurate and comprehensive information on mineral resources.

McCuaig welcomed these efforts, saying improved access to geoscience data would help reduce exploration risks and attract international mining companies.

“Access to quality data is critical for making informed investment decisions in exploration,” he said.

BHP has already begun engaging with stakeholders in the region, launching a series of exploration workshops across southern Africa in April, covering Zambia, South Africa, Namibia and Angola.

The initiative is seen as part of a broader strategy to rebuild the company’s presence in Africa, where it has historically had a limited footprint compared with other global miners.

Its previous ventures in the region include a stake in Tanzania’s Kabanga nickel project, which it exited last year, and an unsuccessful 2024 bid for Anglo American, partly due to reluctance to take on its South African operations.

Zambian authorities say renewed interest from major mining firms reflects growing confidence in the country’s policy direction and long-term potential.

The government has prioritised the mining sector as a key driver of economic growth, aiming to boost production, increase exports and generate employment.

Copper accounts for the bulk of Zambia’s export earnings, making the sector central to fiscal stability and foreign exchange generation.

However, experts caution that translating exploration interest into actual production will require sustained investment, regulatory consistency and infrastructure development.

Power supply constraints, logistics challenges and global price volatility remain key risks for investors in the sector.

Still, the involvement of a major player like BHP could provide a significant boost to Zambia’s ambitions, particularly if it leads to the discovery and development of new large-scale deposits.

As global competition for critical minerals intensifies, Zambia’s vast but underexplored copper resources are increasingly drawing attention from international mining companies seeking to secure future supply.

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