Business

FQM ponders new processing facilities

AT THE time the completion of the 51 percent takeover of the Roan Selection Trust and Anglo American Corporation was being finalised, it was announced the nation’s share of the profits of the mining companies was K87 for every K100 profit. PICTURE: STEVE & JILL MOOREY

DARLINGTON MWENDABAI, KABANDA CHULU, Lusaka

DESPITE achieving the highest-ever global annual copper production of 816,000 metric tonnes (MTs) last year from 779,000 in 2020, First Quantum Minerals (FQM) is not satisfied with lower ore grades at its Zambian mines and intends to invest in new processing facilities. The two mines – Sentinel in Kalumbila and Kansanshi in Solwezi – produced 233,000 MTs and 202,000 MT respectively, to contribute a combined 435,000 MT to the FQM group total of 816, 000 MT for last year. Announcing its 2021 preliminary production figures, FQM chairman Philip Pascall said lower ore grades at the two flagship Zambian mines last year have underscored the company’s goal of investing further in new production facilities to improve oxide recoveries. “Plans to invest in additional production facilities to process lower grade ore is inevitable,” he said. Total copper sales volumes, in particular for the product from Zambian sites, were also impacted by port availability and CLICK TO READ MORE


Facebook Feed

Ad1