A historic surge in copper prices is delivering a major windfall for Zambia and the Democratic Republic of Congo, Africa’s two largest producers of the metal. Prices have surged nearly 50% since early 2025, recently surpassing $13,000 a ton, significantly boosting government revenues and export earnings. This rally is driven by strong global demand from renewable energy and data centers, coupled with tight supply. A rush to ship refined copper to the US ahead of potential tariffs has further strained inventories. Both nations’ currencies have soared amid market optimism, with Congo’s franc and Zambia’s kwacha posting massive gains. The critical challenge now is for their governments to strategically invest this windfall to ensure widespread, long-term benefits for their citizens in the evolving global economy.
Bloomberg