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.