FIRST QUANTUM ANNOUNCES A US $3.7 BN INVESTMENT IN ZAMBIA

First Quantum Minerals has announced a US $3.7 billion investment in Zambia.

The Toronto-listed company, operates Kansanshi Mine, located in North-Western Zambia.

The mining company has further acquired new mining rights for the Trident project in the Kalumbila copper ore.

The group’s President, Clive Newall says at least US $1.7 billion is to be invested in the Trident project, up to 2014.

An additional US $2 billion will be invested in the already operating Kansanshi mine, solely to increase production to 400,000 tonnes, from 240,000 tonnes.