Zambia has improved its global mining investment standing, rising to 25th place on the Investment Attractiveness Index in the 2025 survey by the Fraser Institute, one of the world’s most closely watched benchmarks of mining competitiveness.
The latest survey assessed 68 mining jurisdictions worldwide, evaluating mineral potential and policy conditions influencing exploration investment. Zambia moved up from 28th place in the previous survey cycle, with its score increasing to 72.84, reflecting stronger investor confidence in both the country’s geological resources and policy environment.
Within Africa, Zambia now ranks third, behind Botswana and Morocco, consolidating its position among the continent’s leading mining destinations.
The survey, conducted between August and November 2025, involved 256 mining executives representing companies with combined exploration spending of about US$4.2 billion. It is widely regarded as an indicator of global mining capital allocation trends.
The Investment Attractiveness Index combines mineral potential (60 percent), which measures the geological strength of a jurisdiction, and policy perception (40 percent), which evaluates factors such as regulatory stability, taxation, legal systems, infrastructure, political stability, security, labour frameworks, and administrative processes.
On the Policy Perception Index, Zambia improved to 30th globally, scoring 74.96, up from 38th previously, suggesting stronger investor sentiment regarding regulatory consistency, macroeconomic stability, and governance predictability.
Under the Best Practices Mineral Potential Index, which assumes globally competitive policy standards, Zambia scored 71.43, ranking 20th globally and sixth in Africa. The survey notes that the country’s copper, cobalt, gold, and emerging critical mineral resources remain globally competitive.
However, the report also identified areas requiring further attention, including trade-related processes, security perceptions, and labour regulatory clarity.
Analysts say the improved ranking reflects growing international confidence in Zambia’s ongoing economic reforms, including inflation management, exchange rate stability, fiscal consolidation, and continued debt restructuring efforts.
By Rachel Mumba
