Mining
First Quantum to invest US$1.25bn in Kansanshi expansion
The Canadian miner says the S3 expansion will lift annual output by 25% and is contingent on the next phase of the IMF programme staying on track.
Chanda Phiri·13 hours ago
SOLWEZI — First Quantum Minerals (FQM) has approved a US$1.25 billion expansion of its Kansanshi copper mine in North-Western Province, the company's biggest single investment in Zambia in a decade.
The S3 expansion will add an estimated 25% to annual copper output and create 4,000 construction jobs.
CEO Tristan Pascall said the decision was "conditional on continued macroeconomic stability and the orderly conclusion of Zambia's IMF programme".