First Quantum to Increase Copper Production in Zambia

15 June 2011 (Last Updated June 15th, 2011 18:30)

First Quantum Minerals' subsidiary Kansanshi Mining may spend about $900m on increasing production at its Kansanshi mine in Zambia over the next three years. Kansanshi general manager Sean Whittome told Bloomberg that the firm will spend $370m on expansion work to increase copper output t

First Quantum Minerals' subsidiary Kansanshi Mining may spend about $900m on increasing production at its Kansanshi mine in Zambia over the next three years.

Kansanshi general manager Sean Whittome told Bloomberg that the firm will spend $370m on expansion work to increase copper output to 400,000 metric tons by 2015, and has proposed to build a $500m smelter.

The smelter is expected to process about 1.2Mt of concentrate and produce about 400,000t of copper.

First Quantum is also planning to invest about $1bn to construct a mine at its Trident project at Kalumbila, west of Kansanshi.

First Quantum holds 80% of Kansanshi Mining, while the remaining 20% is held by Zambia's state-owned ZCCM Investment Holdings.