FIRST Quantum Minerals (FQM) produced 201,823 metric tonnes (mt) of copper in the fourth quarter of 2021, with Kansanshi and Kalumbila mines in North-Western Province contributing a combined total of 112,136mt to the overall output.
And global investment bank Goldman Sachs has projected a strong forecast for copper that prices will rise to US$15,000 a tonne by 2025 due to a diversified set of demand drivers ranging from electric vehicles to electrical transmission grids.
FQM has also projected to produce one million metric tonnes of copper in the next three years through advancement of its brownfield portfolios.
Kansanshi Mining Plc produced 51,939mt while Kalumbila managed 60,197mt.
Announcing FQM’s fourth quarter results on Tuesday, company chairman Philip Pascall said production of 201,823mt of copper takes the full year production to 816,435mt, the highest annual copper production in FQM’s history.
“I am grateful for the dedication and commitment of the entire team at First Quantum and for the support of governments and