Stability key to attracting investment

Zambia’s long-standing position as a key mining destination continues to attract investment, but unlocking the next phase of growth in the Copperbelt will depend on a combination of innovation, infrastructure development and regulatory stability. According to Anthony Mukutuma, country director of First Quantum Minerals in Zambia, the company’s three- decade presence in the country has provided deep insight into what is required to operate successfully and drive sustainable growth. He said there was increasing focus on “responsible, inclusive and diversified growth” as the country looks to expand its mining output. First Quantum’s operations in Zambia have grown significantly over the years. From producing around 30 000 tonnes of copper per year at the Bwana Mkubwa mine in 1996, the company has increased output to between 365 000 and 425 000 tonnes annually in recent years. It also produces between 110 000 and 120 000 ounces of gold and 30 000 to 40 000 tonnes of nickel, placing its Zambian operations among the higher- ranking producers globally. The company operates several large-scale assets, including the Kansanshi mine, the Sentinel copper mine and the Enterprise nickel mine. These operations are supported by a smelter with a capacity of 1.65 million tonnes per annum. At Sentinel, ultra-class haul trucks capable of carrying up to 320 tonnes are used to move large volumes of ore, reflecting the scale at which modern mining operations now operate. Mukutuma said that as high-grade deposits were depleted globally, the industry was increasingly required to process lower-grade ore, which in turn drives higher volumes, longer haulage distances and rising costs. “This shift is forcing innovation across the mining value chain,” he said. One example is the introduction of new haulage and material handling technologies. First Quantum recently commissioned what it describes as the world’s first “rail-run conveyor” system, designed to move material over distances of up to six kilometres at significantly lower energy consumption. “The aim is to move material faster and more efficiently, while reducing energy use and emissions. Systems like this allow maintenance to be centralised and improve overall operational efficiency,” he said. The company is also investing in electric mining fleets, including trucks, excavators and drills, as part of efforts to improve productivity while lowering costs and greenhouse gas emissions. Automation is playing an increasing role, with autonomous drilling systems improving safety, precision and overall mine-to-mill optimisation. Process plant automation is also becoming critical as ore grades decline, ensuring consistent recovery rates and product quality despite more challenging feed material. But, said Mukutuma, achieving Zambia’s ambition to significantly increase copper production will depend on more than operational improvements. “The first step towards reaching three million tonnes of copper production starts with exploration,” he said, noting that a nationwide aerial geophysical survey conducted in 2023 was helping to identify new areas of interest and improve exploration efficiency. He added that maintaining a stable operating and regulatory environment would be essential to attracting continued investment. “Capital has options. It will only flow to jurisdictions where it is comfortable,” he said. LV