As the global demand for essential minerals increases, so does the need for a clean energy transition. At the forefront of meeting this demand in Africa is Mfikeyi Makayi, the CEO of KoBold Metals Africa, a technology-driven mineral exploration company focused on powering the green energy transition through sustainable mining practices.
Appointed in 2023, Mfikeyi Makayi made history by becoming the first Zambian woman to lead a major mineral exploration company, taking the role of CEO of KoBold Metals Africa. With over 15 years of experience in the mining sector, the mining expert brings a wealth of knowledge to her role.
Her career journey spans significant positions at First Quantum Minerals’ Kansanshi Copper-Gold Mine and Barloworld Equipment, where she managed operations supplying Caterpillar products to major mining companies in Zambia.
KoBold Metals
KoBold Metals, headquartered in the United States, is renowned for using advanced artificial intelligence to identify essential mineral deposits. The company’s African subsidiary focuses on discovering vital minerals such as copper, cobalt, nickel, and lithium, necessary for the global transition to clean energy. Since taking on the role, she has overseen the deployment of AI-based exploration methods that significantly reduce the time and cost of mineral discovery. These tools enable high-precision geological modelling, allowing the company to target drilling efforts more effectively.
One of the flagship initiatives under her leadership is the Mingomba Copper Project in Zambia’s Copperbelt Province. Recognised as one of the highest-grade undeveloped large-scale copper assets globally, the project is a joint venture with Zambia Consolidated Copper Mines Investments Holdings Plc and Energy Minerals Resources Capital (EMR).
In Zambia alone, KoBold Metals has invested approximately $200 million in the Mingomba project, with production expected to begin in 2031. The project aims to produce over 300,000 tonnes of copper annually, contributing to Zambia’s national target of 3 million tonnes annually.
“By the end of 2025, we would have spent $300 million in discovery, resource characterisation, engineering studies, and preparing for shaft sinking in the first half of 2026 at Mingomba Mine,”~ says Makayi
Under her guidance, KoBold Metals Africa has launched training initiatives for local geologists, increased employment opportunities for Zambians, and established collaborative frameworks with regional authorities to ensure the socio-economic benefits of mining are equitably distributed.
As of June 2023, the company had raised over $400 million, including a $195 million funding round valued at $1.15 billion. In January 2025, KoBold Metals announced a $537 million Series C funding round, bringing its total funding to over $1 billion.
Mfikeyi Makayi has recently represented the company at major industry events, such as Mining Indaba 2025, where she discussed KoBold’s $2 billion investment in Zambia’s Mingomba copper project.
