FQM Invests $1.25 Billion in Kansanshi Mine Expansion
First Quantum Minerals (FQM) has reaffirmed its commitment to the country by investing $1.25 billion in the Kansanshi Mine expansion project, known as the ‘S3 project.’
The initiative aims to extend the mine’s lifespan by 20 years, safeguarding thousands of jobs and sustaining community support programs.
The S3 project involves expanding Kansanshi’s mining pit, constructing a new processing plant, and enlarging the on-site smelter to increase copper production.
Mr. Anthony Mukutuma, General Manager of Kansanshi Mine, shared insights into the project’s progress, highlighting that it remains on track for completion in May 2025.
The expansion will transition Kansanshi Mine from a “high-grade, medium-scale operation to a medium-grade, larger-scale mining operation.” Post-expansion, the mine aims to produce in excess of 250,000 tonnes of copper per annum, a significant boost from the 135,000 tonnes produced in 2023.
The mining of the Southeast Dome deposit, a key component of the S3 project, commenced in December 2023. The project is expected to create around 1,800 jobs by Q2 2024, with permanent positions for approximately 800 people, including mining equipment operators.
The S3 project also includes the construction of a standalone 25-million-tonne per annum processing plant. While progress has been commendable, some delays are anticipated due to the longer shipping route for certain components. However, assembly of crucial equipment is expected to begin in early Q2 2024.
Notably, the $1.25 billion investment encompasses an expansion of the mining fleet to support increased volumes. The assembly of new Hitachi EH4000 dump trucks, coupled with innovative ‘electric trolley assist’ infrastructure, is set to enhance efficiency and reduce carbon emissions.
In addition to technological advances, the S3 project includes a $115 million investment to enlarge Kansanshi’s state-of-the-art smelter. This move aligns with the Zambian government’s commitment to adding value to minerals in-country, reducing the need to ship concentrate abroad.
Mr. Mukutuma emphasized the positive economic impact of the S3 project, anticipating increased royalties, taxes, and job opportunities.
Furthermore, the expansion ensures the long-term viability of Kansanshi Mine, allowing FQM to continue its extensive community support programs, including initiatives in education, early childhood development, and infrastructure development in Solwezi.
