KoBold Metals, the Silicon Valley-backed mining company supported by billionaires including Bill Gates and Sam Altman, has officially broken ground on the Mingomba copper mine in Zambia — a $2.3 billion project that will become the largest copper mine in the country’s history.
The groundbreaking ceremony, held in early May 2026 near Zambia’s border with the Democratic Republic of Congo, marks a milestone not only for the mine but for the entire southern African copper industry. Once at full production, Mingomba is expected to produce more than 300,000 tonnes of copper per year, placing it among the top copper sources on the continent.
## AI-Discovered, Human-Dug
What sets Mingomba apart from conventional mining projects is its origin story. KoBold, which acquired the project in December 2022, used proprietary artificial intelligence algorithms to analyze geological data and identify a high-grade copper deposit buried deep underground — a resource that previous explorers had missed. The discovery was made before a single drill bit turned.
We cannot afford to go slow, said Mfikeyi Makayi, CEO of KoBold Metals Africa, speaking at the ceremony. Similar projects typically take more than 15 years to reach production. KoBold has opted to begin construction before final engineering studies are complete, an aggressive strategy designed to compress timelines and capitalize on rising copper demand driven by the global energy transition.
## Deep and Wet — A Technical Challenge
For all its promise, Mingomba faces formidable technical obstacles. The mine will be among the deepest high-grade copper operations in the world, with planned extraction at roughly 1,700 metres below the surface. The broader region is already known for exceptionally wet underground conditions, requiring large-scale pumping systems to manage groundwater inflows.
A final cost estimate for the project will follow the completion of an engineering study scheduled for early next year. KoBold is also still weighing options for on-site smelting and refining infrastructure.
## Zambia’s Copper Ambitions
The project is a cornerstone of President Hakainde Hichilema’s ambitious target to more than triple Zambia’s national copper output by early in the next decade. KoBold’s development is proceeding alongside major expansion programs underway at Barrick Mining and First Quantum Minerals, which together with Mingomba could reposition Zambia as one of the world’s leading copper producers.
Copper is central to the global clean energy transition — it is a key component in electric vehicles, renewable energy infrastructure, and power grids. As demand climbs, Mingomba’s substantial output could become a critical node in the world’s supply chain.
KoBold, despite its high profile, has yet to bring any mine into production anywhere in the world. Mingomba is its most advanced project and a pivotal test of whether the company’s AI-driven exploration model can translate into successful commercial mining operations at scale.
Image: Mfikeyi Makayi, CEO of KoBold Metals Africa, at the Investing in African Mining Indaba. Credit: Dwayne Senior / Bloomberg via Getty Images