FQM projects increased copper production

FIRST Quantum Minerals Limited is expected to ramp up its copper production to 700,000 metric tonnes per annum by 2015 with the completion of Sentinel Mine and increase output arising from the expansions at Kansanshi mine.
And First Quantum Mineral head of public relations Godfrey Msiska said once Kalumbila Mine goes into production by 2015, the copper mine is expected to employ 2,000 people.
In an interview at the just ended Zambia International Trade Fair in Ndola on Monday, Msiska said the mine would employ 500 more workers once the construction of the US$2 billion Sentinel mine is completed by 2015.
“As First Quantum Minerals, we are optimistic that the 500 job earmarked for downsizing at the under-construction Sentinel mine can be saved,” he said.
He said First Quantum, the second largest copper producer in Africa, had boosted the Zambian enterprise and spent more than US$ 1 billion in sourcing goods and service from local suppliers and contractors.
And Msiska revealed that First Quantum Minerals had acquired Inmet, a Canadian based mining company that produces copper and zinc.
He said the mining company successfully completed the offer of 92.74 per cent of Inmet shares tendered.
“As FQM, we want to say that shareholders who tendered their shares between March 12 and April 1st 2013 and elected the cash alternative will receive $36.00 in cash and 1.6484 common shares,” he said.
He said Inmet has three wholly-owned mining operations – Cayeli (Turkey), Las Cruces (Spain) and Pyliasami (Finland).


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