The Zambian government has taken over the operations of a major copper mining company, Deutsche Welle reported, in what is seen as a move by the government to strengthen its direct control over the key mining sector.
But economists are urging Mr Lusaka to proceed with caution.
When the Zambian government announced it would buy the Mopani Copper Mines Limited, economists in Zambia watched closely.
The copper and cobalt export company is jointly run by Swiss and Canadian companies.
The Zambian government owns only 10 per cent of the company.
The move follows a series of clashes between Zambia and Switzerland's Glencore PLC and Canada's First Quantum Minerals Limited over the temporary closure of its mines in the northern Copper-Belt province.
At issue is the COVID-19 pandemic and cuts in spending, taxes and electricity prices.
For Lusaka resident John Tembo, the government's purchase of the Mopani mine could be a double-edged sword.
"The people who are going to retire, where is the money coming from?" Tembo said. "If the government is going to take over, they have to compensate the retirees in the quickest way possible."
Zambia employs more than 73,000 people in extractive industries, or 2.4% of the workforce in this southern African country of nearly 18 million people.
"These mines should belong to the government, not foreigners," said Lusaka resident Emmanuel Chisala.
On the contrary, it means that the country's minerals are only beneficial to foreigners."
