Mercuria Energy Group has entered a strategic joint venture with Zambia’s Industrial Development Corporation (IDC) to establish a metals trading unit.
This partnership underscores a growing trend of commodity houses collaborating with resource-rich nations to secure access to critical materials.
The Geneva-based Mercuria, a global energy and commodities powerhouse, aims to leverage its financial, technical, and commercial expertise to help Zambia enhance its presence in the international copper market.
With Zambia ranked as Africa’s second-largest copper producer, the collaboration reflects a shared commitment to maximizing the value of its natural resources while promoting sustainable economic growth.
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Kostas Bintas, Mercuria’s Global Head of Metals and Minerals, emphasized the significance of the venture, stating, “This initiative focuses on metals trading and underscores our commitment to fostering long-term, mutually beneficial partnerships. We are putting our resources into Africa’s Copperbelt region to enhance Zambia’s role in the global minerals market.”
The partnership aligns with Zambia’s ambition to expand copper production, targeting 3 million metric tons annually within the next decade, up from the current 698,000 tons. The trading unit will provide Zambia with greater transparency and efficiency in marketing its mineral wealth, a vital step in capturing more value from its resources.
IDC Chief Executive Officer Cornwell Muleya highlighted the benefits of the collaboration, noting that it would enable Zambia to position itself as a key player in global commodities markets. The initiative will also facilitate knowledge and skills transfer, developing local expertise in metals trading, risk management, and financial operations.
This venture comes as major global mining companies, including First Quantum Minerals and Barrick Gold, expand their operations in Zambia, further signaling the country’s potential as a copper hub. The partnership is set to strengthen Zambia’s resource governance and support the global transition to renewable energy, which relies heavily on copper.
