[{"data":1,"prerenderedAt":866},["ShallowReactive",2],{"ticker-data":3,"story-authors/piotr-kulas":540,"stories-article-article/-content.date:desc-piotr-kulas":561},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":559,"relatedVideos":560},146687644263878,"a6f1d197-5d03-4616-bfc2-eaa5868d4cd5","Piotr Kulas","piotr-kulas","authors/piotr-kulas",{"x":547,"bio":548,"_uid":549,"email":547,"image":550,"linkedin":555,"component":556,"job_title":557,"markets_covered":558,"certification_name":547,"certification_recoginition":547,"certification_recoginition_url":547,"formattedDate":547,"formattedArticleDate":547},"","Piotr is a Principal Analyst at Benchmark, where he leads the development of copper supply and cost models.\nHe holds an Earth Science degree from the University of Glasgow and a Mining Engineering degree from the Camborne School of Mines. Piotr began his career as an engineer in the copper mining industry, gaining practical experience that now informs his analytical approach to modelling mining supply.\nBefore joining Benchmark, he worked at CRU, covering a range of commodities and further deepening his expertise across the resource sector.","cea2cb62-ef92-4546-b544-4035194ebffa",{"id":551,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":552,"copyright":547,"fieldtype":553,"meta_data":554,"is_external_url":50},153746641500672,"https://a.storyblok.com/f/287943243085208/440x410/a0d6db8d5d/piotr.webp","asset",{},"https://www.linkedin.com/in/piotr-kulas-68370227/","author","Lead Analyst, Copper Supply","Copper",[],[],[562],{"id":563,"uuid":564,"name":565,"slug":566,"full_slug":567,"content":568},212852269860382,"2b56b57a-6863-40e3-b380-8e8e80b04cad","Hichilema re-election expected to preserve Zambia's copper policy continuity","hichilema-re-election-expected-to-preserve-zambia-s-copper-policy-continuity","article/hichilema-re-election-expected-to-preserve-zambia-s-copper-policy-continuity",{"_uid":569,"date":570,"tags":571,"editor":581,"content":591,"excerpt":802,"featured":51,"reporter":803,"component":817,"seo_title":818,"categories":819,"visibility":828,"data_vis_image":829,"featured_image":833,"seo_description":837,"side_panel_banner":838,"formattedDate":865},"11ed4459-fa5a-4865-b6be-921423fbfc22","2026-08-25 00:00",[572,575,578],{"slug":573,"name":574},"zambia","Zambia",{"slug":576,"name":577},"africa","Africa",{"slug":579,"name":580},"data-visualisation","Data Visualisation",[582],{"slug":583,"name":584,"content":585},"matthew-bird","Matthew Bird",{"job_title":586,"image":587,"bio":589,"linkedin":590},"Senior Editor - Supply Chains & Data Visualisation",{"filename":588},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":592,"attrs":593,"content":594},"doc",{"backgroundColor":49},[595,606,632,676,686,693,701,737,745,753,761,769,777],{"type":596,"attrs":597,"content":598},"paragraph",{"textAlign":49},[599],{"text":600,"type":601,"marks":602},"Hakainde Hichilema was declared president-elect of Zambia on 18 August. Hichilema was re-elected after securing nearly 3 million votes, more than 1.1 million votes ahead of his opponent, Brian Mundubile of the NRPUP, and comfortably above the 50% threshold required to avoid a run-off. ","text",[603],{"type":604,"attrs":605},"textStyle",{"color":547},{"type":596,"attrs":607,"content":609},{"textAlign":608},"left",[610,615,627],{"text":611,"type":601,"marks":612},"\"The result is expected to deliver policy and geopolitical continuity, including the continuation of the beneficiation agenda set out in Zambia's ",[613],{"type":604,"attrs":614},{"color":547},{"text":616,"type":601,"marks":617},"2024 critical minerals strategy",[618,625],{"type":619,"attrs":620},"link",{"href":621,"uuid":622,"anchor":49,"target":623,"linktype":624},"/article/african-nations-seek-to-capture-greater-value-from-copper-resources","81ebcea9-5fd3-4f22-ad5f-6a2abc748dcb","_self","story",{"type":604,"attrs":626},{"color":547},{"text":628,"type":601,"marks":629},",\" said Benchmark's lead policy and geopolitical analyst Bryan Bille. ",[630],{"type":604,"attrs":631},{"color":547},{"type":596,"attrs":633,"content":634},{"textAlign":608},[635,643,648,657,662,671],{"text":558,"type":601,"marks":636},[637,641],{"type":619,"attrs":638},{"href":639,"uuid":640,"anchor":49,"target":623,"linktype":624},"/article/copper-stocks-rise-alleviating-backwardation-and-tightness-fears","9c1638f6-fb00-4734-b318-cfbf057b78c4",{"type":604,"attrs":642},{"color":547},{"text":644,"type":601,"marks":645}," is a crucial export for Zambia, accounting for around three-quarters of the total value of the country’s exports. ",[646],{"type":604,"attrs":647},{"color":547},{"text":649,"type":601,"marks":650},"Mined production",[651,655],{"type":619,"attrs":652},{"href":653,"uuid":654,"anchor":49,"target":623,"linktype":624},"/article/copper-supply-expansion-since-2010-offers-reassurance-on-market-tightness-concerns","bf91f239-bb5e-4896-b276-5510df623bb6",{"type":604,"attrs":656},{"color":547},{"text":658,"type":601,"marks":659}," in 2026 is estimated at 901kt, a healthy growth of 11% over last year, as assessed by ",[660],{"type":604,"attrs":661},{"color":547},{"text":663,"type":601,"marks":664},"Benchmark’s Copper Service",[665,669],{"type":619,"attrs":666},{"href":667,"uuid":49,"anchor":49,"target":623,"linktype":668},"https://www.benchmarkminerals.com/copper","url",{"type":604,"attrs":670},{"color":547},{"text":672,"type":601,"marks":673},". The Zambian government is aiming to increase output to 3Mtpa by 2031. ",[674],{"type":604,"attrs":675},{"color":547},{"type":677,"attrs":678},"blok",{"id":679,"body":680},"a894a37e-e32a-4d8c-8223-ec28af3332c7",[681],{"id":682,"_uid":683,"type":684,"component":685,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"30056291","i-8b3bd92a-8e9b-48d0-952f-e4a614d3630d","visualisation","ContentFlourish",{"type":687,"attrs":688,"content":690},"heading",{"level":689,"textAlign":608},2,[691],{"text":692,"type":601},"How is Zambia planning to meet its copper ambitions? ",{"type":596,"attrs":694,"content":695},{"textAlign":608},[696],{"text":697,"type":601,"marks":698},"The ministry's working assumption is that existing assets must roughly double production to about 1.4Mt, with exploration-stage projects contributing a further 1.2Mt. The timing remains difficult. Barrick's Lumwana Super Pit expansion is scheduled for first production in 2028, while KoBold's Mingomba project is targeting first copper in the early 2030s, a target looking increasingly difficult to complete. Sinomine’s Kitumba project – under construction currently – is the only large scale new operation planned to be opened in the country soon. All other pipeline additions are brownfield expansions or reviving of previously existing capacity – as is the case with Vedanta controlled Konkola Copper Mines. More than $10bn has been committed to the sector since 2021, according to Zambia's Chamber of Mines. ",[699],{"type":604,"attrs":700},{"color":547},{"type":596,"attrs":702,"content":703},{"textAlign":608},[704,709,718,723,732],{"text":705,"type":601,"marks":706},"However, Zambia's copper industry remains constrained by physical bottlenecks, particularly fuel, power and ",[707],{"type":604,"attrs":708},{"color":547},{"text":710,"type":601,"marks":711},"smelter availability",[712,716],{"type":619,"attrs":713},{"href":714,"uuid":715,"anchor":49,"target":623,"linktype":624},"/article/record-low-copper-treatment-charges-supported-by-alternative-smelter-revenues","729721e9-4301-45fe-aa72-cc2cc5e01e6c",{"type":604,"attrs":717},{"color":547},{"text":719,"type":601,"marks":720},". Mopani, Chambishi, and Nchanga smelters have all been affected by maintenance this year. This also reduced the availability of sulphuric acid produced by their smelters. The government responded by banning acid exports in September 2025 headed to Zambia’s acid hungry northern neighbour – ",[721],{"type":604,"attrs":722},{"color":547},{"text":724,"type":601,"marks":725},"the DRC",[726,730],{"type":619,"attrs":727},{"href":728,"uuid":729,"anchor":49,"target":623,"linktype":624},"/article/cobalt-copper-and-controls-drc-regional-spotlight","23058151-3c90-4933-a151-d618baff03e1",{"type":604,"attrs":731},{"color":547},{"text":733,"type":601,"marks":734}," – before introducing a permit regime on 27 March 2026 and partially easing it in May as stocks recovered. ",[735],{"type":604,"attrs":736},{"color":547},{"type":596,"attrs":738,"content":739},{"textAlign":608},[740],{"text":741,"type":601,"marks":742},"\"As the new government inherits this situation, it will need to continue addressing these constraints if it is to meet its domestic production target,\" Bille said. ",[743],{"type":604,"attrs":744},{"color":547},{"type":596,"attrs":746,"content":747},{"textAlign":608},[748],{"text":749,"type":601,"marks":750},"Zambia's 10% concentrate export duty, intended to make concentrate exports less attractive than domestic smelting, is another policy to watch. It has been suspended for named producers, including Mopani, allowing them to ship capped volumes through Industrial Resources Limited, a state subsidiary. The arrangement took effect on 1 June and expires on 30 September unless extended or replaced and is directly related to reduced smelter availability at the time they are needed most ",[751],{"type":604,"attrs":752},{"color":547},{"type":596,"attrs":754,"content":755},{"textAlign":608},[756],{"text":757,"type":601,"marks":758},"Zambia has also sought a larger share of mining profits through state equity held via ZCCM-IH, the vehicle through which the state participates commercially in the sector. ZCCM-IH holds 20% of First Quantum's Kansanshi operation and is raising its stake in KoBold's Mingomba from 20% to 25%. At Kansanshi, it receives 3.1% of revenue instead of dividends. These mechanisms can capture rent, but they do not create additional smelter capacity or increase local processing. Zambia may therefore need additional measures to advance beneficiation and local value addition. ",[759],{"type":604,"attrs":760},{"color":547},{"type":596,"attrs":762,"content":763},{"textAlign":608},[764],{"text":765,"type":601,"marks":766},"“Geopolitically, Hichilema's mandate is unlikely to end Zambia's non-aligned positioning,” Bille said. “Zambia is simultaneously supporting the Western-backed Lobito Corridor and a $1.4bn Chinese concession for the TAZARA railway.” ",[767],{"type":604,"attrs":768},{"color":547},{"type":596,"attrs":770,"content":771},{"textAlign":608},[772],{"text":773,"type":601,"marks":774},"Sinomine’s current investment, and recent takeover by Lubambe mine by JXCH – a large Chinese mining contractor shows that Zambia does not mind Chinese investment. The result is a pragmatic dual-corridor strategy in which Western-funded infrastructure may carry minerals from Chinese-owned mines, while China remains Zambia's largest official creditor, with around $5.7bn in claims.",[775],{"type":604,"attrs":776},{"color":547},{"type":596,"attrs":778,"content":779},{"textAlign":608},[780,787,796],{"text":781,"type":601,"marks":782},"Copper is an important part of Africa's role in global energy transition supply chains. Get tickets to ",[783,785],{"type":604,"attrs":784},{"color":547},{"type":786},"italic",{"text":788,"type":601,"marks":789},"Giga Africa 2026",[790,793,795],{"type":619,"attrs":791},{"href":792,"uuid":49,"anchor":49,"target":623,"linktype":668},"https://www.benchmarkminerals.com/events/giga-africa",{"type":604,"attrs":794},{"color":547},{"type":786},{"text":797,"type":601,"marks":798}," to learn more about Africa's copper potential and role in other critical minerals.",[799,801],{"type":604,"attrs":800},{"color":547},{"type":786},"Hakainde Hichilema was declared president-elect of Zambia on 18 August. Hichilema was re-elected after securing nearly 3 million votes, more than 1.1 million votes ahead of his opponent, Brian Mundubile of the NRPUP, and comfortably above the 50% threshold required to avoid a run-off.\n\n\"The result is expected to deliver policy and geopolitical continuity, including the continuation of the beneficiation agenda set out in Zambia's 2024 critical minerals strategy,\" said Benchmark's lead policy and geopolitical analyst Bryan Bille. \n\nCopper is a crucial export for Zambia, accounting for around three-quarters of the total value of the country’s exports. Mined production in 2026 is estimated at 901kt, a healthy growth of 11% over last year, as assessed by Benchmark’s Copper Service. The Zambian government is aiming to increase output to 3Mtpa by 2031. ",[804,814],{"slug":805,"name":806,"content":807},"bryan-bille","Bryan Bille",{"job_title":808,"image":809,"bio":811,"linkedin":812,"markets_covered":813},"Lead Analyst - Government Policy",{"filename":810},"https://a.storyblok.com/f/287943243085208/512x512/1491bc3cc9/bryan-bille.jpeg","Bryan has more than 8 years of policy and geopolitical experience covering numerous areas, such as international trade, industrial policy, critical minerals, battery and EV supply chains and the broader energy transition. Bryan currently oversees Benchmark Mineral Intelligence’s policy and geopolitical coverage and leads Benchmark’s strategic outreach to policymakers. Before joining Benchmark, Bryan obtained a degree in corporate law from the University of Antwerp and an international political economy degree from King’s College London. He also held various positions within the Belgian diplomatic corps and politics, where he was involved in multiple policy issues and international negotiations at the EU level. ","https://www.linkedin.com/in/bryanbille/","Critical Mineral, Battery and EV Supply ",{"slug":544,"name":543,"content":815},{"job_title":557,"image":816,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"article","Hichilema re-election expected to preserve Zambia's copper policy",[820,822,825],{"slug":821,"name":558},"copper",{"slug":823,"name":824},"critical-minerals","Critical Minerals",{"slug":826,"name":827},"raw-materials","Raw Materials","private",{"id":830,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":831,"copyright":547,"fieldtype":553,"meta_data":832,"is_external_url":50},212854637836552,"https://a.storyblok.com/f/287943243085208/1588x1440/2c67151030/zambia-copper-2025-exports-2x.png",{},{"id":834,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":835,"copyright":547,"fieldtype":553,"meta_data":836,"is_external_url":50},212854327183610,"https://a.storyblok.com/f/287943243085208/8030x3848/cd3b140380/kanasnshi-copper-mine-zambia.jpeg",{},"Hakainde Hichilema was declared president-elect of Zambia on 18 August. Copper is a crucial export for Zambia, accounting for around three-quarters of the total value of the country’s exports.",{"name":839,"created_at":840,"published_at":841,"updated_at":842,"id":843,"uuid":844,"content":845,"slug":857,"full_slug":858,"sort_by_date":49,"position":859,"tag_list":860,"is_startpage":50,"parent_id":861,"meta_data":49,"group_id":862,"first_published_at":841,"release_id":49,"lang":863,"path":49,"alternates":864,"default_full_slug":49,"translated_slugs":49,"_stopResolving":51},"Copper Service","2026-08-25T08:49:33.752Z","2026-08-25T08:50:02.888Z","2026-08-25T08:50:02.904Z",212820679705508,"4a4932e1-2e54-4b23-b2a2-8bd920c1dbcf",{"cta":846,"_uid":848,"image":849,"title":839,"subtitle":854,"component":855,"description":856},{"id":547,"url":667,"linktype":668,"fieldtype":847,"cached_url":667},"multilink","cdf9420e-a380-45bf-82e9-62516cae7ec6",{"id":850,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":851,"copyright":547,"fieldtype":553,"meta_data":852,"is_external_url":50},212804791256071,"https://a.storyblok.com/f/287943243085208/1920x1080/6835a27309/adobestock_613219348-1.png",{"size":853},"1920x1080","Unrivalled Copper Supply Chain Data.","ContentBanner","Project-level copper intelligence. Supply, demand, costs, prices.","copper-service","source-banners/copper-service",-20,[],202922247866666,"ee20e11a-487f-4bed-a9a8-af0e94057a37","default",[],"Aug 25, 2026",1787672842669]