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President Hakainde Hichilema has commissioned First Quantum Minerals (FQM)’s US$1.25 billion Kansanshi S3 expansion project, which is expected to double copper production and extend the mine’s lifespan by 20 years.
The project, which commenced in 2022, is located in Solwezi, North-Western Province, following FQM’s announcement of the multi-billion-dollar investment.
Speaking during the commissioning on Tuesday, President Hichilema described the development as a game changer that will contribute significantly to Zambia’s vision of producing three million tonnes of copper annually by 2031.
He said the Kansanshi S3 expansion combined with the other FQM Operations in Zambia would boost output to 500,000 tonnes of Copper Per year and help strengthen the country’s macroeconomic environment.
“Zambia is open for business, and the commissioning of the Kansanshi S3 project is a show of confidence in the Zambian economy as well as a true reflection of partnerships,” President Hichilema said.
“This is not a mean achievement. The quantum of investment is a strategic driver of national growth, capable of turning the fortunes of the economy from negative to positive growth through targeted investments,” he added.
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The Head of State reaffirmed his government’s commitment to achieving the three million tonnes target, noting that reforms in the mining cadastre and regulatory environment were unlocking investment challenges.
He further emphasized the need for joint business efforts to sustain macroeconomic stability, including keeping inflation in check. Hichilema expressed confidence that a single-digit inflation rate would be achieved as more investments flow into the country.
The President also urged mining firms to invest more in exploration, even within existing tenements, to secure future production.
Meanwhile, FQM Chief Executive Officer Trinstar Pascall said the US$1.25 billion investment demonstrates the company’s confidence in Zambia’s future.
“This investment is built on a journey of dialogue and partnership. More than 510 companies participated during the construction phase, including 430 Zambian companies,” Pascall said.
He added that the S3 project would raise production to between 450,000 and 500,000 tonnes of copper annually, with the mine also ready to introduce automation technologies to create new opportunities.
Mines and Minerals Development Minister Paul Kabuswe said the expansion underlines the revival of Zambia’s mining industry, which continues to play a key role in driving economic growth.
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