FQM Commits to $1.6 Billion Local Procurement, Partners with ZAM
First Quantum Minerals (FQM) has announced a $1.6 billion commitment to local procurement, with 44% sourced from Zambian-owned companies. FQM’s Head of Infrastructure, Jed Goldstein, emphasized the company’s focus on increasing local sourcing and formalizing a partnership with the Zambia Association of Manufacturers (ZAM).
Goldstein highlighted the importance of raising the standard of Zambian manufacturers to meet global mining sector demands. “ZAM is a key partner to help us ensure Zambian manufacturers can supply at a global level,” he said, noting that much of FQM’s procurement is still from companies with minority Zambian shareholding, but the goal is to increase truly local spending in the coming years.
Zambia’s position as a major copper producer and copper’s critical role in the future global economy were focal points of Goldstein’s remarks. “We want to turn Zambia into a mineral processing hub,” he stated, aligning with President Hakainde Hichilema’s vision of Zambia producing 3 million tons of copper annually.
The announcement came during the Zambia Association of Manufacturers Gala and Awards Ceremony in Lusaka, marking the end of Zambia’s 14th Manufacturers Month. ZAM CEO Muntanga Lindunda praised the partnership and celebrated the resilience of Zambia’s manufacturing sector.
“Tonight, we celebrate the outstanding achievements of our manufacturers who have shown remarkable growth and innovation, even in challenging times,” said Lindunda.
She expressed gratitude to stakeholders for their continued support throughout the event, which aimed to honor those driving competitiveness and sustainability in the sector.
FQM’s formalized partnership with ZAM is set to strengthen Zambia’s local economy, expanding opportunities for manufacturers to supply the mining industry and enhancing the nation’s role in global mineral processing.
