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First Quantum Minerals Ltd. has officially commissioned its $1.25 billion S3 Expansion project at the Kansanshi mine, a significant investment that is expected to solidify the company’s long-term commitment to Zambia and boost the nation’s copper production targets.
The project, which was previously stalled, received renewed momentum following government policy shifts aimed at attracting foreign investment. The expansion is a cornerstone of Zambia’s ambitious goal to increase its copper output to three million tonnes annually.
The S3 Expansion is set to nearly double Kansanshi’s ore processing capacity to 53 million tonnes per year, offsetting declining ore grades and extending the mine’s life until the 2040s. The investment included a new processing plant, a pit expansion, and a $115 million upgrade to the Kansanshi smelter, enhancing in-country value addition.
Zambian President Hakainde Hichilema lauded the investment as a sign of private sector confidence in the country’s economic trajectory. “Nobody puts $1.25 billion in a project located in a country and an environment you have no trust in, you have no confidence in,” Hichilema said at the commissioning ceremony. He credited the government’s stable investment climate for unlocking the project.
First Quantum CEO Tristan Pascal echoed this sentiment, stating the investment “reflects our unwavering confidence in Zambia’s future, its leadership, its policies and, above all, in the talent and capability of its people.” He added that the project will increase copper production from FQM’s Zambian operations to between 450,000 and 500,000 tonnes.
The project created 1,800 jobs during construction and is projected to create an additional 800 permanent positions. FQM also noted that over 430 Zambian-owned companies were involved in the construction and provision of services. The move is a strategic win for both the company and the country, aligning FQM’s operational longevity with Zambia’s broader economic revitalization and job creation agenda.
