Category: Mining in Zambia

First Quantum Minerals (TSX: FM) said on Wednesday it would get a $500-million shot in the arm from Jiangxi Copper, the Canadian miner’s largest shareholder, that will help it to shore up finances. The three-year, prepay arrangement with Jiangxi will see First Quantum deliver 50,000 tonnes of copper anode per year to the Chinese miner. The material will be extracted at the Kansanshi mine in Zambia and is payable at market prices, the company said. “This arrangement is a reminder of the strategic nature of copper as supply challenges abound… Read More Here

In a demonstration of commitment to progress and community engagement, Kansanshi Mine in Solwezi welcomed Solwezi Central Member of Parliament, Stafford Mulusa, along with a delegation of civic leaders, including Solwezi Mayor Remmy Kalepa and Town Clerk Stanley Mbewe, as well as all twelve district councillors. The visit aimed to provide insights into the ongoing expansion projects at Kansanshi Mine and their impact on the local community. Kyansenga Chitoshi, Corporate Affairs Manager at Kansanshi Mining, warmly greeted the delegation upon their arrival at the mine site. They were then led… Read More Here

Vedanta Resources, a global natural resources company, has commenced financial support for Konkola Copper Mines (KCM) in Zambia, with an initial disbursement of $25 million allocated for employee salaries, contract labor, and critical services to uphold the asset’s integrity. The company has deployed a technical team to collaborate with KCM’s current management to assess the condition of the operation, ensuring readiness for operations under Vedanta’s control pending the conclusion of the ongoing scheme of arrangement before the court. Upon agreement with creditors and the withdrawal of court cases, the provisional… Read More Here

Canada-based First Quantum Minerals (FQM) has exercised its option to acquire the remaining two licences in the Central Africa Copperbelt from an agreement with London-listed African Pioneer’s 80%-owned subsidiary, African Pioneer Zambia. The option agreement, initially announced on January 22, saw FQM sign an addendum on February 15 confirming its decision to exercise the option over the two licences, which had not been previously exercised. These licences are identified as exploration licences 27770-HQ-LEL and 27768-HQ-LEL. In addition, FQM had already exercised its option over licences 27767-HQ-LEL and 27771-HQ-LEL, as announced… Read More Here