Home / Metal News / First Quantum Starts Up Copper Mine in Zambia

First Quantum Starts Up Copper Mine in Zambia

iconJan 4, 2015 14:07
Source:SMM
Despite concerns over a mining royalty hike in Zambia that led Barrick Gold (TSX:ABX) to halt operations in the country.

Wednesday December 31, 2014, 7:57am PST

Despite concerns over a mining royalty hike in Zambia that led Barrick Gold (TSX:ABX) to halt operations in the country, Bloomberg reports that First Quantum Minerals (TSX:FM) is starting up a Zambian copper mine. Royalties have recently increased from 6 percent to 20 percent for opencast mines in Zambia.

As quoted in the publication:

"Kansanshi Smelter will produce 300,000 to 350,000 metric tons of copper a year, John Gladston, a company spokesman in Zambia, said today in an interview. The $1.9-billion Sentinel mine will produce 270,000 to 300,000 tons of copper metal in concentrate annually, Gladston said by phone.

Click here to read the full Bloomberg article.

 

First Quantum Minerals
TSX:FM

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news