First Quantum Minerals is planning to invest $2bn in 2011-14 to expand and develop its operating mines and new projects.
The proposed expansion covers Zambia-based Kansanshi and Sentinel, Mauritania’s Guelb Moghrein, Ravensthorpe of Australia and Finland’s Kevitsa projects.
The investment excludes the proposed development of the Haquira deposit in Peru and the construction of a copper smelter in Zambia.
First Quantum chairman and CEO Philip Pascall said 2011 will mark the company’s geographic diversification strategy and its emergence as a nickel producer.
“While we continue to advance this growth and diversification strategy, our long-term commitment to Zambia remains central in the Company’s future,” Pascall said.