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FQM investments in Zambia hit US$6.1 million

FILE: PRESIDENT Lungu (right) with First Quantum Minerals Limited director of operations Matt Pascal at Kansanshi Mine in Solwezi. PICTURE: SALIM HENRY/ STATE HOUSE.

FIRST Quantum Minerals (FQM) Plc has invested US$6.1 in Zambia with over 14,000 jobs created since its inception 20 years ago.
Company public relations manager Godfrey Msiska told President Lungu and visiting Mozambican president Filipe Nyusi when the two toured the FQM stand at the ongoing 52nd Zambia International Trade Fair (ZITF) in Ndola yesterday.
Mr Msiska also said the firm has paid more than US$3.2 billion in taxes during the 20 years the firm has been operational.
He said apart from that, US$3.1 million was pumped into building Kansanshi Mining Plc, which is the flagship project, and another US$2.1 billion has gone to develop Kalumbila mine, a greenfield project, with other investments in the smelter.
“We have currently invested US$6.1 billion in Zambia,” he said.
Mr Msiska said while jobs depend on demand, over 14,000 direct and indirect jobs have been created.
At the moment, 8,573 direct employees and contractors as well have been engaged at Kansanshi mine while 4,800 have been employed at Kalumbila mine.
Mr Msiska said despite copper prices collapsing, the firm has tried to sustain its labour force by also containing costs to maximize the provision of employment.
The firm is interpreting the ZITF theme by providing people with training skills in education and agriculture sectors.

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