FQM DRIVES ZAMBIAN MINING GROWTH WITH LANDMARK COPPERBELT GEOLOGICAL SURVEY
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President Hakainde Hichilema swears Mines Minister Paul Kabuswe
LUSAKA, ZAMBIA – Recognising the vast untapped potential of the Copperbelt Province, First Quantum Minerals (FQM) has handed over a ground-breaking aerial geological survey of the Copperbelt to the Zambian government.
The survey, entirely funded by FQM, addresses the lack of comprehensive documentation of the region’s mineral wealth, despite over a century of mining operations. Now complete, the survey has been officially handed-over to Zambia’s Minister of Mines and Mineral Development during a ceremony hosted by His Excellency President Hakainde Hichilema.
The airborne geophysical data, which is available through the government’s Geological Survey Department, is the first step in the lengthy investment process of ongoing exploration, emphasised the company. The mining firm believes the survey will help stimulate the mining and exploration sector, for the benefit of all Zambians.
Speaking at the handover ceremony at State House, President Hichilema said: “It’s a serious indictment on us as a country, as a people. One cannot exploit or manage resources that you don’t understand properly. Even if you know the Copperbelt has a mineral endowment, where exactly is it? How deep is it? And how do you then package projects? I think this has been an anomaly for a long, long, time. That’s why this government took this decision shortly after being favoured by the people of Zambia to serve them.”
Speaking at the same event, FQM Chief Executive Officer Tristan Pascall expressed the company’s commitment to working with the Government to maximise the Copperbelt’s mineral potential.
The survey demonstrates FQM’s unwavering commitment to Zambia’s economic development and the sustainable growth of its mining sector. By investing in this vital research, FQM is actively working to unlock new opportunities, not just for the company but for the entire nation.
“Zambia has been having a conversation around the need to develop opportunities for exploration, to develop a pathway towards its target of producing 3 million tonnes of copper a year. And around Zambia continuing as a cornerstone of copper mining; continuing as a global powerhouse in copper production. The key to that is exploration. So, the reason to come before you today, is to deliver on a promise we’d made to you previously to help Zambia on this journey,” he said.
Mines and Minerals Development Minister Paul Kabuswe confirmed that the survey was fully funded by FQM under a memorandum of understanding with the government and was completed on time.
In August 2023, President Hichilema launched a country-wide high resolution aerial geophysical survey, which is aimed at providing the government with information on the mineral endowment in all the ten provinces. Furnished with this new data Mr Kabuswe revealed that consultations are underway to determine which areas of the Copperbelt, if any, are still to be covered by the National Geological Minerals Mapping survey.
FQM Exploration Manager Jon Stacey said that the survey data is being handed over to the government, through the Geological Survey Department, and that this will, in turn, provide mining rights holders with the data they need.
“There was a need to generate new regional data to assist with exploration, in line with government’s 3 million tonnes strategy. So we did this in the area that would have the most impact, which is why we chose the Copperbelt,” Stacey explained.
Beyond this significant geological survey, FQM’s commitment to Zambia is evident in its continuous investments in local infrastructure, renewable energy, and community development programs. These initiatives demonstrate the company’s dedication to creating shared value, ensuring that the benefits of mining are widely distributed and contribute to a prosperous and sustainable future for all Zambians.
The latest geological survey is one aspect of this commitment, helping drive the industry towards the government’s target of growing copper output to 3 million tonnes.
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About First Quantum Minerals Ltd
First Quantum Minerals Ltd is a global metals and mining company producing mainly copper, gold and nickel. The company’s assets are in Zambia, Spain, Mauritania, Australia, Finland, Turkey, Panama, Argentina and Peru.
In 2024, First Quantum globally produced 431,000 tonnes of copper, 139,000 ounces of gold and 24,000 tonnes of nickel.
In Zambia it operates the Kansanshi mine and smelter in Solwezi, and the Sentinel copper mine and the Enterprise nickel mine in Kalumbila.
The company is listed on the Toronto Stock Exchange.
http://www.first-quantum.com/
