Title: Fist Quantum Minerals commits to developing copper mining in Zambia
Introduction :
As part of the Zambian Government’s ambitious target to produce 3 million tonnes of copper per year by 2030, mining giant Fist Quantum Minerals is pushing hard to secure a 51% stake in Africa Pioneer Zambia . This company holds several copper exploration licenses in Zambia. Junior Mining, a company listed on the London Stock Exchange, recently announced that Fist Quantum is set to take control of Africa Pioneer Zambia, following a deal reached in January 2022. However, conditions still need to be met before this deal can be completed. is finalized.
Development :
Fist Quantum Minerals is already a major player in Zambia’s mining industry, with delivery of 388,000 tonnes of copper in 2022, according to industry statistics. This company is therefore perfectly positioned to support the Zambian Government’s ambition to further develop copper mining in the country.
Under the terms of the agreement, Fist Quantum Minerals will have to make an investment of at least $500,000 in each of the four copper licenses held by Africa Pioneer Zambia. To date, the company has already spent $1.6 million on the deal. However, it will also have to prepare and finance a technical report demonstrating an indicated mineral resource of at least 300,000 tonnes of copper within two years from September 17, 2023.
If Fist Quantum Minerals manages to meet all the requirements of the agreement, it will not only strengthen its position in the Zambian market, but will also help boost the country’s economy through increased copper mining production.
Conclusion :
Fist Quantum Minerals’ desire to become more involved in copper mining in Zambia demonstrates the company’s confidence in the country’s potential. In partnership with Africa Pioneer Zambia, Fist Quantum is on track to take control of these copper exploration licenses and thus contribute to the achievement of the production target of 3 million tonnes of copper per year by 2030 .
This initiative is an example of the importance of the mining sector to the Zambian economy, and highlights the need for strong investment and partnerships to drive the development of this key industry. As Fist Quantum Minerals continues its efforts, it is important to monitor progress in copper mining in Zambia, which plays a vital role in the country and has a significant impact on the regional economy.