https://www.miningweekly.com

First Quantum’s Kansanshi expansion project on schedule for completion in mid-2025

First Quantum Minerals' Kansanshi copper mine, in Zambia

First Quantum Minerals' Kansanshi copper mine, in Zambia

18th March 2024

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

TSX-listed gold and base metals miner First Quantum Minerals CEO Tristan Pascal is pleased with the level of progress on the ground at the S3 expansion project, at the Kansanshi mine, in Zambia.

The company is spending the majority of the project’s $1.25-billion investment this year to ensure the entire project is completed by mid-2025.

The project entails an expansion of the mine pit and mining fleet, as well as construction of a new processing plant and expansion of a smelter.

This should extend the Kansanshi mine life into 2040 and increase copper production to more than 200 000 t/y.

The company recently raised $3.3-bilion as part of a comprehensive refinancing package and copper prepayment arrangement, as well as extended its debt facilities through to mid-2027, to deliver on the S3 expansion.

Zambia, and Kansanshi in particular, has been the mainstay of First Quantum’s mining activity for the last 20 years and will be “just as important” for the next 20 years.

Pascal says completion of the expansion is a priority for the company and that it is in a strong position to finish the project on schedule.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.693s - 111pq - 2rq
Subscribe Now