First Quantum Minerals Eyeing Copper and Nickel in Zambia

Mineweb reported that First Quantum Minerals (TSX:FM) is still looking at Africa as a significant part of its plans for growth despite losing its Frontier and Kolwezi projects in the DRC. The company is planning to bring roughly US$3 billion worth of copper and nickel projects online in Zambia this year.

As quoted in the publication:

These new Zambian projects are part of a push by First Quantum to increase annual copper production to more than 1.1 million tonnes per annum.  The company is thus particularly well placed to benefit from any pick-up in copper prices, which have been flat recently, and in zinc and nickel, both of which are projected for good price rises in the near future by many mining analysts due to developing shortages.  FQM has advanced strongly over the past few years, notably through some significant acquisitions – Inmet, as mentioned above, last year and Ravensthorpe, Kiwara and Antares in 2010, and the latest is Lumina Copper announced just over two weeks ago primarily for the large Taca Taca copper/gold/molybdenum project in Argentina.

Click here to read the full Mineweb article.