Are you looking for information on current affairs in Zambia? You are in the right place ! In this article, we are going to tell you about one of the most notable news of recent days: Fist Quantum Minerals and its ambitious objective of obtaining 51% interest in Africa Pioneer Zambia, a company holding exploration licenses copper in Zambia.
Zambia aims to produce 3 million tonnes of copper per year by 2030, and Fist Quantum Minerals is determined to play a key role in this expansion. The company has entered into an agreement with Junior Minière, a company listed on the London Stock Exchange, to take control of Africa Pioneer Zambia.
Under the terms of the agreement, Fist Quantum Minerals must invest at least $500,000 in each of the four copper licenses held by African Pioneer Zambia. So far, the company has already spent $1.6 million. In addition, within the next two years, it must prepare and finance a technical report demonstrating an indicated mineral resource of at least 300,000 tonnes of copper.
This initiative by Fist Quantum Minerals is particularly interesting given the company’s impressive statistics. In 2022, it has already delivered 388,000 tonnes of copper, which places it at the top of copper producers in Zambia.
This new acquisition could therefore further strengthen Fist Quantum’s position in the Zambian mining market and contribute significantly to the national copper production target.
It is important to note that this transaction is not without controversy. Some people wonder if Fist Quantum will really contribute to the economic and social development of Zambia or if it only seeks to maximize its profits.
Regardless, this case highlights the importance of the mining industry in Zambia and its potential to drive the country’s economic growth. It will be interesting to follow the progress of this acquisition and observe how Fist Quantum Minerals will realize its objective of becoming a major player in the mining industry in Zambia.
In conclusion, the planned acquisition by Fist Quantum Minerals in the mining sector in Zambia is major news that deserves our full attention. It demonstrates the importance of the mining industry in the country’s economic development and raises questions about the real benefits that this transaction will bring to Zambia. We will follow future developments in this matter with interest.