Tuesday, June 25, 2024

We are not interested in buying Mopani or KCM-FQM


First Quantum Minerals (FQM) has reiterated its commitment to invest further in Zambia’s mining sector, but has clarified that it has no plans to acquire Mopani Copper Mines (MCM) nor Konkola Copper Mines (KCM), contrary to media reports.

In a statement, the company pledged to support government’s drive towards growing the nation’s copper production, and is working towards investing in its S3 expansion project at Kansanshi mine in Solwezi which will increase production output and prolong the life of mine.

“In addition, preparatory works are also underway for the company’s Enterprise nickel production project near its Sentinel mine in North-Western Province,” it said.

“The company (and the mining industry at large) is keen on seeing positive developments in policies that will attract investment in the sector to reach the ultimate goal of three million tonnes of copper production in the near future.”

Both the Daily Mail and Times of Zambia have carried stories to the effect that mining giants Barrick Gold and First Quantum Minerals (FQM) are interested in investing in Mopani Copper Mines (MCM) and Konkola Copper Mines (KCM) on the Copperbelt.

This was reported to have have elated Government, which has welcomed the expression of interest and has pledged to see to it that bottlenecks to increased copper production in Zambia are addressed.

Canada’s High Commissioner to Zambia Pamela O’donnell said Barrick Gold and other Canadian companies are yearning to invest in Zambia because of the country’s good policy decisions.

Ms O’donnell, who is based in Tanzania, was speaking when she met President Hakainde Hichilema at State House.

“The policy decisions that have been made since your government came into power have really increased confidence in companies. Canadian companies that are here are interested in investing more.


  1. But ambassador said it clearly that: Canada will buy Mopani and KCM – Canada and not first quantum or whatever u call them.

  2. For your own info, FQM & Barrick are not the only Canadian mining companies, Canada has 100s of such investors. Plenty. So ba PF jealous , how can a whole ambassador & let me be clear “white people will tell you when they don’t want to invest & equally they ll tell u when they want to-they don’t lie”.

  3. This really pf propanda and Lusaka times is their mouth piece – clearly. Jealous , jst becos investors which u chased are coming back then u want to use propanda to demoralize the Zambians, they know all your tricks ba pf. U exhausted all your tricks during yo rule, hence Zambians are aware of hypocrisy and they actually ve no business with u, whatsoever.

  4. Ati fake news? The mines mentioned are very deep and who would want to get involved with such when you can mine close to surface with giant trucks for hauling? Hoisting of ore at Mopani is limited to maybe 60 tonne skips.

  5. This step aside dude is really a coon. White people don’t lie?? So says someone living in a continent that has suffered theft and plunder by whites! What kind of sucking up is this? This inferiority complex needs a shrink

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