FQM Endorses Zambia’s Mining Growth Strategy
During the Investing in African Mining Indaba 2024 held in Cape Town, South Africa, First Quantum Minerals (FQM) expressed its full support for President Hakainde Hichilema’s ambitious vision to bolster Zambia’s mining sector.
The President’s strategy aims to expand copper production and position Zambia as a significant player in the global mining arena.
Jed Goldstein, FQM’s Lead of Infrastructure Development, reiterated the company’s commitment to fostering sustainable development in Zambia through substantial investments in infrastructure, technology, and human capital.
He emphasized FQM’s dedication to enhancing operational efficiency and contributing to Zambia’s economic landscape through projects like the S3 Expansion Project at the Kansanshi mine and the Enterprise nickel mine in Kalumbila.
The S3 Expansion Project, with an investment of US$1.25 billion, is set to prolong the life of Kansanshi mine until 2040, ensuring continued copper production.
Additionally, FQM’s US$100 million investment in the Enterprise nickel mine is expected to make Zambia Africa’s top nickel producer once operational, employing 700 full-time staff.
Mr. Goldstein highlighted FQM’s significant contributions to the Zambian government, including K25 billion in taxes according to the Zambia Extractive Industries Transparency Initiative (ZEITI) report for 2022, and employment opportunities for over 19,000 people, primarily Zambians.
Moreover, FQM believes that the global transition to renewable energy and electric vehicles will bolster demand for copper, and the Enterprise nickel mine is poised to produce “green” nickel with a low carbon footprint.
FQM is actively promoting local content and skills training in Zambia, aiming to increase procurement from Zambian suppliers and spur local business growth. Initiatives like the Kalumbila Multi-Facility Economic Zone (MFEZ) seek to attract investment and create opportunities for local businesses.
Beyond its mining operations, FQM is deeply committed to community engagement, environmental protection, and improving livelihoods, having invested US$100 million in community initiatives around its mining operations.
FQM’s participation in the Indaba underscores its commitment to responsible and sustainable mining practices in Africa. With its track record of successful operations and plans for continued investment, FQM emerges as a key partner for governments and investors looking to develop Africa’s mining sector.
