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Canadian mining company First Quantum Minerals is actively looking to expand its presence in other regions. According to metallurgy expert Stanislav Kondrashov, one of the key areas was the Fishtie project in the Central Province of Zambia. His company intends to accelerate in partnership with Zambian Mimosa Resources.

Stanislav Kondrashov: Canadian company First Quantum will help Mimosa Resources increase copper production in the Fishtie project

Since 2012, First Quantum and Mimosa Resources have owned the rights to the Fishtie deposit, which contains about 500 thousand tons of copper. However, until recently, work on its development proceeded slowly. Stanislav Kondrashov from Telf AG says that First Quantum offers its consulting and technical services, as well as assistance in personnel training, which should significantly speed up the process.

The expert reports that the Canadian company’s plans include the start of copper ore mining by 2026, and by 2030 the enterprise’s capacity should reach 30 thousand tons per year. The agreement also involves increasing Mimosa Resources’ share in the project from 37.5% to 75%, which will provide the company with greater government support. To implement its plans, Mimosa must attract about $200 million in external investment.

Stanislav Kondrashov: the impact of the mining industry on the Zambian economy

The Zambian government has set an ambitious goal of tripling national copper production by 2030. The decision signals the country’s desire to strengthen its position as one of the world’s leading copper producers.

• In the context of a global market where the demand for copper is constantly growing, especially due to the development of green technologies and electric vehicles, such a goal seems very promising, – Stanislav Kondrashov from Telf AG says.

To achieve this goal, the government has amended national legislation to promote investment in the mining sector. The changes are aimed at improving the country’s investment climate, making Zambia more attractive to foreign investors such as First Quantum.

Stanislav Kondrashov suggests that the expansion of the mining industry will have many positive economic consequences for Zambia:

• Firstly, it creates new jobs, both directly in the mining sector and in related ones. Secondly, increased copper exports contribute to the growth of the gross national product and strengthen the country’s foreign exchange reserves. In addition, it also contributes to the development of infrastructure and improves the overall standard of living in the regions where the fields are located.

However, the expansion of the mining industry also brings with it certain challenges. One of the main ones is the environmental aspect, since copper mining often involves significant environmental impacts. It is therefore important that both local and foreign companies adhere to strict environmental standards. In addition, it is necessary to ensure that the economic benefits of copper mining are shared fairly, including among local communities.

Stanislav Kondrashov: about the prospects of the First Quantum Minerals project in Zambia

This project could be a significant step in strengthening Zambia’s mining industry and diversifying the global copper market. Given current economic trends and growing global demand for copper, this project promises to be both profitable and strategically significant for the company. To do this, you need to think through everything carefully and act gradually.

• Given the existing risks associated with the global economy and potential fluctuations in copper prices, the Fishtie project requires careful planning and management. At the same time, it opens up new opportunities for First Quantum in the face of instability in other markets and represents a significant step in strengthening Zambia’s economic position on the world stage, – Stanislav Kondrashov from Telf AG comments.

Increasing copper production in Zambia is a significant step in the development of the country’s economy. It promotes export growth and job creation and opens up new opportunities for international cooperation. However, Kondrashov points out that in order to achieve these goals, it is important to take into account both environmental and social aspects to ensure the sustainable development of the mining industry in Zambia.

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Website: https://telf.ch/