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First Quantum to expand operations at big Zambia copper mine

Sep. 14, 2020 6:29 PM ETFirst Quantum Minerals Ltd. (FQVLF) Stock, FM:CA StockFQVLFBy: Carl Surran, SA News Editor
  • First Quantum Minerals (OTCPK:FQVLF) says it plans to expand operations at the Kansanshi mine in Zambia, Africa's biggest copper mine.
  • The company says it plans to expand the sulfide ore processing facility at the Kansanshi mine by 25M metric tons/year, which would increase annual throughput to 52 mt.
  • First Quantum also says it expects to spend nearly $650M for the expansion in about two years, starting in H2 2023, but its expansion plan will be further refined before project approval is sought.
  • The miner reportedly earlier was weighing a ~$1B investment to lift output at the Kansanshi mine, despite a conflict with state miner ZCCM-IH over project funding.

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