FOR IMMEDIATE RELEASE
FEBRUARY 12, 2026
First Quantum Minerals & Anzana Electric Group Announce Collaboration to Construct Up to 50MW of Baseload Hydropower in Zambia
Projects to support mining operations, grid resilience, and Zambian job creation
Cape Town, South Africa – First Quantum Minerals Ltd. (“FQM”) and Anzana Electric Group (“Anzana”) today announced a strategic collaboration to develop new hydropower generation projects in northern Zambia, with plans for Anzana to provide up to 50 megawatts (MW) of reliable baseload power by 2030 to support FQM’s mining operations in Zambia’s North-Western Province.
FQM operates in Zambia’s portion of the Lobito Corridor, a priority economic corridor for regional trade and mineral development, supported by the U.S. Government and other G7 partners. Anzana recently signed a binding term sheet with ZESCO Limited (ZESCO) toward forming a joint venture to expand the national grid and connect approximately 2 million Zambians across the Corridor to electricity by 2030.
Electricity from Anzana’s proposed hydropower projects is expected to be delivered to FQM through a wheeling arrangement with ZESCO, reflecting Zambia’s continued progress toward open access frameworks that enable private investment in generation while strengthening the national power system.
The hydropower projects will be strategically located in northern Zambia, where hydrological conditions are less exposed to seasonal variability, supporting dependable year-round generation. Development and construction of the projects are expected to create approximately 300 construction jobs for a 3-year period and over 30 permanent operations jobs for decades to come, providing many rural Zambians the opportunity to learn technical skills and build capacity. In addition to diversifying FQM’s power supply base, the projects are expected to deliver broader network benefits, including improved grid stability and reduced losses. Once commissioned, they will also enable additional variable generation projects to be constructed in the immediate area.
FQM’s Zambia Country Director, Anthony Mukutuma, commented: “Secure access to reliable baseload power is essential for mining operations in Zambia. Accessing new hydropower through the national grid, in coordination with ZESCO, supports our long-term energy requirements while also strengthening the electricity system and Zambia’s broader development agenda.”
“This collaboration supports Zambia’s energy sector reforms and aligns mining-led growth along the Lobito Corridor with new investment that will strengthen Zambia’s electricity system overall,” said Brian Kelly, CEO of Anzana Electric Group. “By adding dependable baseload power in strategic locations and delivering it through the national grid where it can enable critical industrial development, these projects will benefit FQM, ZESCO, and electricity users across the country.”
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About First Quantum Minerals Ltd
First Quantum Minerals Ltd is a global metals and mining company producing mainly copper, gold and nickel. The company’s assets are in Zambia, Spain, Mauritania, Australia, Finland, Turkey, Panama, Argentina and Peru.
In 2024, First Quantum globally produced 431,000 tonnes of copper, 139,000 ounces of gold and 24,000 tonnes of nickel.
In Zambia it operates the Kansanshi mine and smelter in Solwezi, and the Sentinel copper mine and the Enterprise nickel mine in Kalumbila.
The company is listed on the Toronto Stock Exchange.
http://www.first-quantum.com/
About Anzana Electric Group
Anzana Electric Group is a leading developer, investor, and operator of hydropower and grid distribution projects across Africa. With presence in East, Central, and Southern Africa, Anzana delivers reliable, affordable power to communities, businesses, and industries. Its innovative approach to partnerships with government, development funders, and private sector in the region is intended to unlock the potential that electricity infrastructure can bring to economic growth.
Anzana is backed by private American investors and Gridworks Development Partners, an Africa-focused electricity transmission and distribution investor wholly owned by British International Investment, a UK government development finance institution.
https://www.anzana.com/
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Gillian Langmead at Langmead & Baker Ltd;
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