Hichilema Hails Landmark $1.25bn FQM Investment at Kansanshi Mine
President Hakainde Hichilema has hailed the official launch of First Quantum Minerals’ (FQM) Kansanshi S3 Expansion Project as a “remarkable milestone” for Zambia, describing it as a demonstration of strong private sector confidence in the country’s economy.
The project, valued at more than USD 1.25 billion, is one of the largest private investments in Zambia’s history. It is expected to extend the life of the Kansanshi Mine by more than 20 years and increase copper production to nearly 300,000 tonnes per year.
“This transformative project will generate significant benefits for our nation,” President Hichilema said at the commissioning ceremony. “It will boost export earnings, strengthen our balance of payments, create quality jobs, support local businesses, and enhance corporate social responsibility initiatives.”
The Head of State also emphasised the need to complement large-scale investments with greater support for artisanal and small-scale miners. He announced that the Ministry of Mines will convene an Artisanal Mining Conference to establish policies that promote legal, safe, and formalised practices.
“By doing so, we will protect lives, unlock opportunities for our citizens, and ensure that Zambia’s mineral wealth benefits all,” he said. “Let it be clear: there shall be no illegal mining.”
President Hichilema further expressed gratitude to Traditional Leaders for their support throughout the development of the S3 Expansion, noting their guidance as key to ensuring the project’s success.
The Kansanshi S3 Expansion stands as a pivotal investment in Zambia’s mining sector, signalling renewed investor confidence while positioning the country as a competitive global copper supplier.
