KoBold Metals Begins Work on $2.3 Billion Zambia Copper Mine

KoBold Metals, the exploration firm backed by high-profile investors including Bill Gates and Jeff Bezos, has officially launched the development phase of its Mingomba copper project in Zambia. The company aims to bring the mine into production by the early 2030s, supporting the national goal of tripling copper output to 3 million metric tons by 2031. As the second-largest producer in Africa after the Democratic Republic of the Congo, the host nation views the Mingomba site as a pivotal asset for its economic strategy.