INVESTMENT

FQM INVESTMENT WILL HELP ZAMBIA ATTRACT MORE BUSINESS, SAYS US DIPLOMAT

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US Under Secretary of State for Economic Growth, Energy, and the Environment, Jose W. Fernandez’s visit to FQM’s Trident operations at Kalumbila in North-Western Province.

KALUMBILA, ZAMBIA – US Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez has lauded First Quantum Minerals (FQM) for its US$1.35 billion investment in Zambia.

The Department of State representative also praised the company for its safe and efficient operations, during a visit to FQM’s Trident operations at Kalumbila in North-Western Province on Friday, May 13, 2022.

The US delegation Under Secretary and US Embassy Zambia Chargé d’Affaires Martin Dale toured the mine in Kalumbila accompanied by FQM’s Government Affairs Specialist Dr Godwin Mooba Beene and the mine’s Acting General Manager Junior Keyser.

FQM Zambia was recently ranked as the 6th largest copper producer in the world, and the diplomats were keen to see for themselves the investment that has gone into the Trident operations and the environmental and safety measures the mine has put in place to make Trident a world class operation. 

“Zambia needs more foreign investment; you have a government that has made it their priority to attract foreign investment. And I know First Quantum Minerals has announced a new investment here, which will help the Government to attract more investors” said Under Secretary Fernandez.

After the tour, Mr Fernandez said he was impressed with the mining operations at Sentinel, which achieved copper production of 233,000 tonnes in 2021.

US Under Secretary of State for Economic Growth, Energy, and the Environment, Jose W. Fernandez’s visit to FQM’s Trident operations at Kalumbila in North-Western Province.

Constructed over four years from 2012, Sentinel represents US$2.1 billion of investment – Zambia’s largest infrastructure investment since the Kariba Dam was constructed in 1959. The operation is based on sophisticated technology of ore handling, conveyance and mineral beneficiation. 

First Quantum Minerals this week approved an investment of US$100 million to start its $250 million Enterprise nickel project located near the existing Sentinel copper mine at Kalumbila, along with a US$1.25 billion investment in its long-awaited expansion of the Kansanshi mine operations in Solwezi – known as the ‘S3’ project.

“We hope that more of these types of investments come to Zambia,” said Mr Fernandez. “The challenge off course is to make sure mining benefits everyone, that it is done responsibly, and I hope this mine will continue living up to those standards.”

FQM continues to lead in the quantum of investment in mining sector in Zambia and in corporate social investment. The company is committed to building the local economy and develop small and medium-sized Zambian businesses.

About First Quantum Minerals Ltd

First Quantum Minerals Ltd is a global metals and mining company producing mainly copper, gold and zinc. The company’s assets are in Zambia, Spain, Mauritania, Australia, Finland, Turkey, Panama, Argentina and Peru.

In 2021, First Quantum globally produced 816,435 tonnes of copper, 312,492 ounces of gold and 16,818 tonnes of nickel.

In Zambia it operates the Kansanshi mine and smelter in Solwezi and the Trident mine in Kalumbila.

The company is listed on the Toronto Stock Exchange.

http://www.first-quantum.com/


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