FQM Reports Record 2024 Zambian Production Results, Prioritizes Sustainable Growth
First Quantum Minerals (FQM) has achieved remarkable production results for 2024, reporting strong performance across its Zambian operations. The mining giant announced an annual copper output of 431,000 tonnes, surpassing its guidance range of 400,000 to 420,000 tonnes, alongside robust gold and nickel production.
Kansanshi Mine recorded its highest copper and gold production since 2021 and 2022, respectively, driven by higher-grade ore, while Sentinel Mine achieved its best average grades since 2017.
“This success highlights our commitment to operational excellence and sustainable growth,” said FQM CEO Tristan Pascall. He added that the ongoing Kansanshi S3 Expansion project, with 62% of construction completed, remains on track for mid-2025 completion.
The S3 project aims to boost copper production from lower-grade stockpiles initially, transitioning to higher-grade deposits in 2027. Early commissioning, including power infrastructure upgrades, has already commenced.
FQM also reaffirmed its sustainability commitments, allocating $600 million over three years to projects such as trolley-assist infrastructure to reduce emissions, electrification of mining fleets, and social investments in water, healthcare, and housing.
“FQM is committed to Zambia’s economic development and sustainable resource management,” Mr. Pascall stated, emphasizing investments in renewable energy and local infrastructure to foster shared value creation.
As FQM advances these initiatives, the company also focuses on addressing power challenges in Zambia, exploring strategic partnerships, and ensuring continued dialogue with stakeholders.
