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Exciting time for mining

BRITISH High Commissioner to Zambia Nicholas Woolley says Zambia is likely to achieve its aim of increasing copper production by more than three-fold within 10 years if the new investments are anything to go by. Zambia, which is Africa’s second-largest producer of copper, currently produces 800,696 tonnes of copper, but the target is to reach three million within the next decade. “The announcements we have seen from a number of investment this [last] week are exciting,” Mr Woolley said in interview. “For example, the announcement by FQM that it is ready to inject an additional US$1.35 billion worth of capital into its operations in Kansanshi and Sentinel mines represents an exciting next chapter in the history of this country because there are a number of extractive mining firms.” There is renewed confidence in Zambia’s investment climate with FQM, the nation’s largest copper miner, unveiling a trailblazing US$1.35 billion package of new projects. About US$1.25bn will be invested in the long-awaited expansion of Kansanshi’s operations in Solwezi – known as the ‘S3’ project – and a final US$100 million will go towards starting the US$250 million Enterprise nickel project in Kalumbila. Together, the two investments represent the largest investment in

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