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FEBRUARY 11, 2026

MINING IS A KEY ENABLER FOR ECONOMIC DIVERSIFICATION, FQM TELLS INDABA

CAPE TOWN, SOUTH AFRICA – What’s good for the mining sector is good for Zambia, First Quantum Minerals has told delegates at this week’s Investing in African Mining Indaba in Cape Town.

Zambia needs to look to economic diversification, using the mining sector as an enabler, said Zambia Country Director Anthony Mukutuma in his presentation at the event’s Zambia Showcase, as he outlined the company’s focus on responsible, diversified growth, in line with this year’s Indaba theme ”Stronger Together: Progress Through Partnerships”.

His presentation aligned closely with the keynote address delivered to the Indaba on Monday by President Hakainde Hichilema, who emphasised the importance of strong partnerships between government, investors, communities and local businesses as the foundation for long-term growth.

“The growth of the mining industry and a focus on retaining value in-country will be key in ensuring mining becomes an enabler of a diversified economy. Diversification is what will underpin sustainable growth ” said Mr Mukutuma.

Drawing on three decades of operating experience in Zambia, First Quantum highlighted the country’s progress in strengthening regulatory stability, building infrastructure and creating an environment that encourages responsible investment.

Community focus, environmental stewardship, skills and innovation were First Quantum’s foundations for doing business in Zambia, added Mr Mukutuma, who explained that a central focus was local content.

FQM also pointed to its ongoing investments in energy resilience, transport corridors and innovation as practical examples of partnership-led development, supporting both mining operations and national growth priorities.

With increased exploration activity, expanding production capacity and a renewed focus on collaboration, First Quantum said Zambia was entering a new phase of opportunity.

“The Irony is this: Zambia must grow its mining industry to lower its dependency on mining,” Mr Mukutuma concluded. “The focus on growing all the other sectors of the economy must remain front and centre while we head towards the 3 million tonnes per year goal.”

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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/ 

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