FQM Contributes $2.6 Billion to Zambia's Economy

First Quantum Minerals (FQM) contributed more than $2.6 billion into Zambia’s economy last year via its Trident and Kansanshi Mines in North-Western Province.

The company’s Global Tax Transparency and Economic Contributions Report for 2024 has revealed that it paid $650 million in taxes, as well as $1.75 billion in local procurement contracts. FQM also paid local employees $236 million in wages and invested a further $13 million in community projects.

Last year the two mines contributed 402,000 tonnes of copper and 19,000 tonnes of nickel. FQM has bet big on Zambia in recent years, investing $1.25 billion into expanding operations at Kansanshi, including building a new processing plant and expanding its smelter.

“Constructed over four years from 2012, our Sentinel copper mien represents $2.1 billion of investment - Zambia’s largest infrastructure investment since Kariba Dam was constructed in 1959,” FQM said in its report.

FQM directly employs some 11,000 people in Zambia while also supporting more than 2,000 local suppliers.