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The Angolan government is seeking $4.5 billion in funding for an extension of the Lobito Corridor railway project to reach Zambia\u2019s Copperbelt region.<\/p>\n
The request marks a significant increase from the previous $1.6 billion estimation<\/a> by the African Development Bank (AfDB) in 2024, though the Africa Finance Corporation, which is overseeing the project, has avoided putting an official price tag on its development<\/a>, Mining.com reported.<\/p>\n Zambia and DR Congo produce more than 13% of the world\u2019s copper<\/a>, however, it can take weeks for the metal to reach ports from the Copperbelt region. The 830km Zambian extension of the 1,300km Lobito railway line aims to create a more efficient export route that bypasses congested transit lines through South Africa, Mozambique, and Tanzania.<\/p>\n The US-backed project is also seen as a significant counterbalance to Chinese-led investment on the continent.<\/p>\n Funding has been slow: A $533 million US loan for the Angolan section in 2024 has yet to be disbursed. However, Italy recently committed $320 million, and the AfDB has committed a further $500 million to the Zambia extension. Construction is expected to begin next year.<\/p>\n