American Investors Urged to Fully Invest in Lobito Corridor
Minister of Finance and National Planning Dr Situmbeko Musokotwane made the call during discussions at the United States–Zambia Investment Roundtable, held at the United States Chamber of Commerce in Washington, DC, on the sidelines of the International Monetary Fund and World Bank Spring Meetings.
The Lobito Corridor presents opportunities across mining, agriculture, power infrastructure, transport, and industrial development in Zambia, Angola, and the Democratic Republic of Congo.
KoBold Metals has committed 300,000 tonnes of copper to be transported annually through the corridor. Up to 240,000 tonnes of copper is projected to move through the corridor each year, with one million tonnes of cargo already secured before a single rail has been laid.
Total international investment in the Lobito Corridor has exceeded US$6 billion. According to The White House, United States investments alone have surpassed US$4 billion.
The consortium developing the rail line has pledged to invest US$455 million in Angola, US$100 million in the Democratic Republic of Congo, and US$1 billion in Zambia.