Podcast: Mining Reforms and building a more transparent, predictable investment environment

Long recognised as one of Africa's leading mining jurisdictions, Zambia is now pairing its abundant natural resources with a renewed focus on regulatory reform, institutional strengthening, and long-term investor confidence. That combination is placing Zambia firmly on the radar of international investors looking for stability as well as opportunity.

Speaking on the latest episode of the Africa Legal Podcast, leading Zambian lawyers Augustine Hamwela and Layeni Phiri describe the current investment climate as "cautiously optimistic" - a sentiment that reflects both Zambia's impressive economic recovery and the realities of operating in an evolving regulatory environment.

The landmark Minerals Regulation Commission Act, 2024 is at the centre of this transformation; modernising Zambia's mining sector, replacing fragmented ministry oversight under past legislation by establishing the Minerals Regulation Commission, creating the Mining Appeals Tribunal, and repealing the old legislation. 

The creation of the Minerals Regulation Commission separates policy from regulation, say Hamwela and Phiri, establishing an independent body responsible for licensing, monitoring and oversight. For investors, this provides a single point of engagement and, perhaps more importantly, greater consistency in decision-making.

While the new mining framework undoubtedly raises the compliance bar (with enhanced ESG requirements, stronger applicant pre-qualification, and more rigorous governance standards), serious investors welcome certainty. Long-term capital is attracted not by the lowest regulatory hurdle, but by transparent rules that are applied consistently over time.

Investors prepared to commit significant capital generally view robust regulation as an enabler rather than an obstacle, notes Hamwela. Clear processes reduce uncertainty, discourage speculative entrants, and create a more sustainable investment environment.

However, regulation alone does not create investment success. 

Dialogue between key stakeholders remains critical to ensuring reforms translate into successful practical outcomes. That philosophy underpins the inaugural Africa Legal GC Forum Extractives Zambia, taking place in Livingstone on 30 September 2026. 

The Zambian forum will bring together general counsel, mining executives and industry leaders, government representatives, regulators, financiers, and professional advisers to discuss the legal and commercial issues shaping Zambia's extractive sector.

Rather than operating in silos, participants will have the opportunity to develop shared perspectives on regulation, compliance, and investment while strengthening relationships across the wider mining ecosystem. For international investors, the message is increasingly clear. Zambia is not simply reforming its mining legislation: it is working to build a more transparent, predictable and commercially attractive investment environment.

August Hill & Associates is supporting the inaugural Zambia Edition of the GC Forum Extractives, themed "Structuring Growth in a New Extractives Era", to be held in Livingstone, Zambia on 30 September 2026. For more information, visit here. 

This event is free to attend for mining and energy GCs and in-house legal teams; mining and energy professionals in leadership, risk, and compliance roles; government relations, policy and regulatory professionals; investors and financiers in the mining and energy sectors; NGOs and academia. To attend please register here.

For more information about this GC Forum Extractives event, including speaker slots, sponsorship, and attendance, please contact Scott Cowan on scott@africa-legal.com