FQM Injects $2.6 Billion into Zambia’s Economy in 2024
First Quantum Minerals (FQM) contributed over $2.6 billion to Zambia’s economy in 2024 through its operations at the Trident and Kansanshi mines in North-Western Province, according to the company’s latest Global Tax Transparency and Economic Contributions Report.
The report reveals that FQM paid $650 million in taxes, spent $1.75 billion on local procurement, disbursed $236 million in wages to local employees, and invested $13 million in community development initiatives.
In terms of output, the two mines produced 402,000 tonnes of copper and 19,000 tonnes of nickel last year.
FQM continues to show strong confidence in Zambia’s mining sector. The company has committed $1.25 billion to expand its Kansanshi operations, including the construction of a new processing plant and the expansion of its smelter.
“Our Sentinel copper mine, built over four years from 2012, represents a $2.1 billion investment—the largest infrastructure investment in Zambia since the construction of the Kariba Dam in 1959,” FQM stated.
The company currently employs around 11,000 people in Zambia and supports over 2,000 local suppliers, underscoring its critical role in the nation’s economic development.
