FIIRST QUANTUM MINES PLANS ONE BLN USD INVESTMENT IN ZAMBIAN OPS

Canada-based First Quantum Minerals (FQM), which operates Kansanshi and Kalumbila copper mines in Zambia’s North Western Province, plans to pump in one billion US dollars into its operations in this copuntry.

FQM Chairman Philip Pascal says the money will be used on expansion and ongoing mining projects.

Pascal said the miming firm is optimistic that metal prices on the international market will remain stable in the long run.

He added said that the price of copper on the London Metal Exchange (LME) was expected to reach its highest in 2018 owing to new and ongoing infrastructure projects in several countries.

The FQM chairman said this when he called on Zambian Minister of Mines Christopher Yaluma in Cape Town, South Africa, where the African Mining Indaba is being held this week.

Yaluma also held talks with Konkola Copper Mines (KCM) chairman Anil Agarwal. The meeting lasted for close to one hour and was held at the Mount Nelson Hotel in Cape Town, it was disclosed here Thursday.

Source: NAM NEWS NETWORK

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