Zambia's plan to increase its stake in certain mining projects will not affect existing operations or exploration efforts, a senior government official has confirmed. The country aims to increase its stake in future critical mineral mines to at least 30%, but this approach will only apply to over 40 government-reserved permits.

The move is part of Zambia's strategy to more than quadruple its copper output by the early 2030s, which hinges on billions of dollars in investment to develop early-stage projects into fully operational mines. The country is Africa's second-largest copper producer, with major players such as First Quantum Minerals Ltd., Barrick Gold Corp., and Vedanta Resources Ltd. already operating mines in the country.

The confirmation from the government official will come as a relief to existing mining operators, who will not be required to restructure their shareholding to accommodate the state-owned company's increased stake. This move is expected to attract more investment partners to the sector, further boosting Zambia's mining industry.