- 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.