First Quantum Minerals Limited Copper output in Zambia rises four percent

Copper production at Kansanshi Mine Plc, a unit of Canada’s First Quantum Minerals Limited (FQML), rose four percent to more than 250,000 tonnes of copper in 2013, signifying a growth rate compared to a year earlier, the Times of Zambia reported. 

The miner, with copper and gold production reputation produced produced 270,724 tonnes of copper compared to 261,351 tonnes produced in 2012, the paper said citing mine’s President Clive Newall. 

The mine further produced 167,395 ounces of gold during 2013 compared to 136,056 ounces a year earlier, increasing output by 23 per cent.

“The limited local smelting capacity in Zambia did continue to impact on Kansanshi’s sales volumes of copper concentrate,” Newall added.

Copper mineral sales on its global subsidiaries rose 31 percent to 386,057 tonnes of copper in 2013 compared to 295, 466 tonnes in 2012.

Kansanshi mine sold 228, 962 ounces of gold in 2013 compared to 202,303 ounces the previous year.

FQM is in the process of developing an additional copper mine at Kalumbila in Solwezi. At its project dubbed Sentinel, FQM has already completed major construction works and is expected to commission the mine this year at a cost of more than US$2 billion.

Sentinel is expected to produce 300,000 tonnes of copper once fully operational bringing Zambia’s overall copper production to about 1million tonnes per annum, Clive added.


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