Kansanshi Mining a subsidiary of First Quantum Minerals operates the largest copper mine in Zambia. The company may spend to the tune of $900 million to increase production at the mine over the next three to four year period as copper prices soar.
The General Manager of Kansanshi Mining, Sean Whittome said that there were plans for a $370 million expansion which would bring up production to 400,000 metric tons by 2015 from the estimated 259,000 tons in 2011. He said that a proposal to build a smelter worth $500 million is likely to be sent to the board in October this year.
The smelter will be able to process 1.2 million tons of concentrate giving about 400,000 tons of copper as per Sean Whittome. As of now Kansanshi has to process some of its concentrate with its rivals. First Quantum bought the Kansanshi mine about a decade ago from Phelps Dodge. It is now exploring the options of extending the mine life beyond 20 years by its aggressive exploration.
Another $1 billion is to be spent by First Quantum Minerals at its Trident project located at Kalunbila, west of the Kansanshi Mine. The mines are located in the copper rich belt of Zambia which is the largest producer of the red metal in Africa.