FQM Supports Zambia’s Mining Growth Strategy
First Quantum Minerals (FQM) has pledged its support for President Hakainde Hichilema’s vision to expand copper production and elevate the nation’s status in the global mining arena.
At the Investing in African Mining Indaba 2024, where President Hichilema delivered a keynote address, FQM’s Lead of Infrastructure Development, Jed Goldstein, reiterated the company’s commitment to fostering sustainable development in Zambia.
This commitment involves substantial investments in infrastructure, technology, and human capital to enhance operational efficiency and contribute to the country’s economic advancement.
Mr. Goldstein highlighted key projects like the S3 Expansion Project at FQM’s Kansanshi mine and the Enterprise nickel mine in Kalumbila, demonstrating FQM’s dedication to Zambia’s prosperity.
The US$1.25 billion investment in the S3 project at Kansanshi will extend the mine’s lifespan until 2040, ensuring sustained copper production.
Additionally, FQM’s US$100 million investment in the Enterprise nickel mine is set to make Zambia Africa’s top nickel producer, generating employment for 700 full-time staff.
In terms of contributions to the Zambian government, FQM has paid K25 billion in taxes, equivalent to 63 percent of the sector’s payments, according to the Zambia Extractive Industries Transparency Initiative (ZEITI) report for 2022.
The company also employs over 19,000 individuals, primarily Zambians, at Kansanshi and Trident mines.
Anticipating the growing demand for copper due to renewable energy and electric vehicle transitions, FQM is positioning itself to meet this demand sustainably.
The Enterprise nickel mine, with its low carbon footprint and renewable power supply agreement with ZESCO, aligns with global efforts towards greener mining practices.
Furthermore, FQM is actively promoting local content and skills development in Zambia, fostering opportunities for local businesses through initiatives like the Kalumbila Multi-Facility Economic Zone (MFEZ).
These efforts underscore FQM’s comprehensive approach to community engagement, environmental protection, and livelihood improvement.
Additional Source: CopperbeltKatangaMining
