President Hakainde Hichilema congratulated First Quantum Minerals (FQM), the Kansanshi Team, and the people of Zambia on the remarkable launch of the S3 Expansion Project.
The President said First Quantum Minerals (FQM) Kansanshi Mine Plc Sulphide (S3) Expansion Project, is a reflection of the private sector’s confidence in government. He further noted that the establishment of such a huge US$ 1.25 Billion investment in Zambia, shows that the country is open for business.
Valued at over USD 1.25 billion, the S3 Expansion is one of the largest private investments in Zambia’s history. It will extend the mine’s life by more than 20 years and increase copper output to nearly 300,000 tonnes annually.
“This transformative project will generate significant benefits for our nation. It will boost export earnings, strengthen our balance of payments, create quality jobs, support local businesses, and enhance corporate social responsibility initiatives,” the president said.
President Hakainde Hichilema emphasized that while Zambia celebrates major investments in large-scale projects such as the S3 mine, equal attention must be given to securing the future of artisanal and small-scale miners.
“As we celebrate this major investment, we must also secure the future of our artisanal and small-scale miners. That is why we have directed the Ministry of Mines to convene an Artisanal Mining Conference to develop policies that promote legal, safe, and formalized mining practices. By doing so, we will protect lives, unlock opportunities for our citizens, and ensure Zambia’s mineral wealth benefits all,” he said, stressing that illegal mining will not be tolerated.
The initiative is expected to complement large-scale ventures while fostering a more inclusive and sustainable mining sector for generations to come.
President Hichilema extended gratitude to Traditional Leaders for their guidance, support, and leadership throughout the whole process.
Minister of Mines, Paul Kabuswe, noted that FQM is one of the highest single taxpayers in the country, attributing this success to the President’s vision and good leadership that activated the favourable investment environment in the country.
He explained that the project is one way of promoting the country’s economic growth through direct and indirect jobs.
Mr Kabuswe praised the government’s good policies that are in line with ensuring economic growth in the country.
And, First Quantum Minerals (FQM) Chief Executive Officer, Tristan Pascall, explained that the US$1.25 Billion investment is more than investment, stating that it’s a shared vision of prosperity for the country and beyond.
Mr Pascall said FQM remains firmly committed to community stewardship through technology that reduces emissions not just for the mine but also for the safety of communities.He further emphasised the need for mines to improve lives within communities, citing the company’s corporate social responsibility through education, among others.
In her remarks earlier, British High Commissioner to Zambia, Rebecca Terzeon, explained that the S3 Project, will contribute to the increased copper cathode produced in Zambia.Ms Terzeon stated that the expansion of the project is testament to FQM’s commitment to the Zambian people through long term economic growth. She recounted President Hichilema’s vision for the Zambian government’s ambition to achieve the production of three million tonnes of copper.
“We are dedicated to ensuring that our investments contribute positively to Zambia’s development,” she stated.And ZCCM-IH Board Chairman, Phesto Musonda, underpinned the government’s investment vision for the country. He said ZCCM-IH which holds 20 percent stake in Kansanshi Mine, has through the mine royalty, received K1.4 Billion.Mr Musonda said the company’s revenues that are actualised are meant to help the national goal such as the energy sector.
Meanwhile, in his welcoming remarks, North-western Province Minister, Robert Lihefu, highlighted that the province has become a beacon of economic growth.He stated that the project has enhanced employment opportunities in the province, a milestone that he said must be commended.
Time frame for the trickle down effect to the common man please?
It’s the usual big but empty UPND pronouncements with absolutely no impact on the ground. 4 years of hot air.
Blowing hot air 24/7….fooling gullible praise singers Lumbani Madoda with fake investors….what happened to the Saudi Arabia Miners???…the story just disappeared
Privatization part 2… Privatization reloaded…you put a Bandit in office and you expect the economy to grow…..his personal economy has really grown and now he has a private helipad and tared road at his house…HH should prepare for jail in 2026
That’s a bit harsh I’d say But there will be many questions about his house and the amount spent
Well done for the expansion but let these mines generate their own power as the whole
Country is in twenty hours of load shedding
As a result of giving them power.
Itezhi-Tezhi Hydro belongs to Tata and they supply all power to them
Nothing to do with DRZ
Thank you for your hard work and dedication to the Zambian people, HH the best salesman for the country.
This is the problem with PF carders they are only interested to see negatives, they do not want to see development and yet they want to come back into power. Anyway they are simply De campaigning themselves even I supported them between 2006 to 2014. This party is full of bitterness nothing else.
There is no development to talk about and I am not a PF cadre. When the cost of living ever comes down, that will be development, not these political machinations please
Much like the future of UPND when their time is up
HH is expanding the Zambian economy ,but for 10yrs the PF just shrunk the economy and saddled the taxpayers with debts. Thus $1.25b is a big deal in that context.
@ Manuel
In UNIP, MMD, PF and Now UPND people were complaining the same thing, this shows now clear that the problem is with lazy people like this one above who just want free things from others without working for them. He does not understand that when people are complaining it means opportunities for entrepreneurs to solve those challenges and make money. If there no problems, then how possible one can make money it’s not possible, unfortunately that is the way how the world works
FQM have not started operations 4 years ago. They have been in business for over 25 years now. They have always been expanding from the time of Bwana Mkubwa Ltd, least people use them for a political mileage, as the author is implying in some of the clauses above. I once worked for FQM, even during the time of the Late Mwanawasa when he visited Bwana Mkubwa to familiarise himself with FQM operations. They were expanding. Kansanshi was born from BMML operations in Ndola. They are serious men the Pascals.
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