FQM unveils $1.35billion package of projects

 FQM unveils $1.35billion package of projects

First Quantum Minerals (FQM) has unveiled a 1.35 billion United States Dollars package of new projects

FQM has approved plans to invest 1.25 billion United States Dollars in its long-awaited expansion of Kansanshi’s operations in Solwezi – known as the ‘S3’ project.

The mining firm will use the final 100 million United States Dollars to start its nickel project in Kalumbila.

The two investments represent the largest investment in Zambia, since FQM’s Sentinel project was approved in 2012 and are the first step in realising the government’s vision for the mining sector, which includes increasing production to 3 million tons of Copper a year within the next decade.

And, Mines and Minerals Development Minister Paul Kabuswe said Government is positive that this investment will translate into tangible benefits for Zambians in terms of jobs and participation in the supply value chain.

First Quantum’s representative, Godwin Beene said the mining company has always been committed to Zambia, with 78 percent of its annual global financial contributions paid over in Zambia.