EMR Capital has sold its 80% stake in Zambia’s Lubambe copper mine, with new owner JCHX Mining Management Company announcing a $300 million investment to extend the mine’s life and boost operations. The announcement, made on July 11 by Zambia’s state-owned ZCCM-IH, confirms JCHX’s acquisition and outlines plans to support Zambia’s goal of increasing its copper production.
ZCCM-IH retains a 20% stake in Lubambe, while JCHX’s substantial investment aims to align with Lusaka’s national strategy to bolster copper output and reinforce China’s footprint in the copper-rich regions of Zambia and the Democratic Republic of the Congo (DRC).
JCHX, which has previously operated the Dikulushi and Lonshi copper mines in the DRC, will now focus on Zambia’s copper belt. This move is expected to support Zambia’s ambitious production targets, with the country aiming to produce 1 million tonnes of copper by 2026 and triple this figure by 2030. In 2023, Zambia’s copper output was around 700,000 tonnes, significantly trailing the DRC’s 2.8 million tonnes.
ZCCM-IH’s tweet on July 11, 2024, highlighted the strategic importance of JCHX’s investment for the future of Lubambe and the broader Zambian mining sector. 
