Zambia's Gold Market Tainted by Discrepancies and Smuggling Suspicions
Zambia's gold market is marked by discrepancies in production and trade figures. While copper mines like First Quantum Minerals' Kansanshi operation produce significant amounts of gold, smaller-scale artisanal miners face challenges in accessing formal buyers and reliable buying systems.
According to the Ministry of Mines and Minerals Development, Zambia produced 3,141.81 kilograms of gold in 2024, a 40% increase from 2023. However, discrepancies exist between government reports, with some figures differing by up to 1,700 kilograms in 2022.
The Kansanshi mine, which is also copper-focused, produced 105,000 ounces of gold in 2024 and 116,000 ounces in 2025. The mine's production depends on various factors, including the gold content of the ore and processing plant recovery rates.