Monday, June 03, 2013

FQM targets 4th largest copper producer slot
By David Chongo in Solwezi
Mon 27 May 2013, 14:00 CAT

FIRST Quantum Minerals is targeting to become the fourth largest copper producer in the world by 2018 with new acquisitions and expansion projects at existing operations, which includes three sites in Zambia.

The mining group, which owns the country's flagship copper mine, Kansanshi Mining Plc in Solwezi, would leapfrog industry giants like BHP Billiton, Anglo-American, Rio Tinto and Vale into fourth position behind leaders Freeport-McMoRan, Glencore Xstrata and Codelco.

Kansanshi Mining Plc acting general manager Alan Delaney says First Quantum Minerals (FQM) has increased its operations and project portfolio to be a global player with a presence in eight European, African, South American countries including Australia.

"Beyond that, First Quantum has diversified globally and now has a presence in Europe (Turkey, Spain and Finland), Australia, South and Central America as well as West Africa," he said. "The acquisition of Inmet Mining and its operating mines and projects, as well as FQM's expansions and new projects within Zambia will make us the fourth largest copper miner in the World by 2018 at current production levels."
Kansanshi Mining, according to Delaney, will play a key role in the process by doubling its production to between 350,000 and 400,000 tonnes of copper per year through expansion of oxide treatment plant and the construction of a new sulphide concentrator plant.
Kansanshi Mining, jointly owned with ZCCM-IH, will also commission a new 1.2 million tonnes smelter by mid next year which will also treat concentrate from the parent company's operations at Sentinel and Enterprise which form the Trident Project that includes Intrepid, west of Solwezi.

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