Copper production up, FQM revenues up: Mining industry growing in Zambia

Hapenga Kabeta, permanent secretary for Mines and Minerals Development revealed at the CAMINEX conference that copper production had risen by 24% in the first quarter of this year, compared to the same quarter last year.

This is a significant increase, with the country producing 144,452 tonnes of copper in the first quarter of 2023. He said that the Konkola Copper Mines and Kansanshi Mine had recorded an increase in copper production.

In parallel to this, First Quantum Minerals (FQM) have released their most recent tax transparency contributions to the government. It has said that it contributed over US $727.8 million to Zambia’s economy in 2023. The country manager, Dr Godwin Beene commented that his firm was proud of its contributions to both the country’s economy, and local communities.

FQM further stated that in 2023, Kansanshi mine contributed US $153.3 million to the economy, whilst FQM Trident paid US $263 million in taxes and royalties amongst other ongoing FQM operations.

The mining industry continues to grow to new levels, with the Kansanshi S3 Expansion Project remaining on track with its construction during the first quarter of 2024 despite the extreme weather situation. The focus has been on installing mechanical equipment such as an SAG mill and primary crusher, with the first production at the expansion expected to be in 2025.

At the 68th Copperbelt Agricultural and Commercial Show in Kitwe, President Hichilema said in his key note address, “the high demand for critical minerals essential to the energy transition underscores Zambia’s strategic land-linked position, making it a significant contributor to our economic transformation agenda.” He added, as a government, we are currently on the right trajectory.”

Zambia’s mining industry is looking as it will have a future as bright as the copper it produces.