MULTI-MILLION DOLLAR SPENDING PLANS UNVEILED AS FQM REPORTS 2025 COPPER PRODUCTION FIGURES
LUSAKA, ZAMBIA – Copper production at First Quantum Minerals’ Kansanshi mine in Solwezi rose by almost 6 percent to 181,000 tonnes last year – the highest production since 2021 – according to preliminary figures from the company release to investors this week.
The company also unveiled a multi-million-dollar capital investment programme for its Zambian operations over the next three years, a move expected to benefit local suppliers, contractors and host communities.
Kansanshi’s output for 2025 increased by 10,000 tonnes compared with the 171,000 tonnes produced in 2024, boosted by 25,000 tonnes of production from the company’s new S3 circuit, which was officially launched by President Hakainde Hichilema in August 2025.
The new plant delivered milling rates and operating times above 80 percent of design capacity, supported by an average recovery of over 80 percent, marking a significant milestone for the expansion project. As a result of sustained operational stability, the S3 circuit was declared to be in commercial production as of December 1, 2025.
The company also reported that annual gold production for 2025 at Kansanshi was up more than 10 percent to 116,000 ounces, driven by higher grades due mainly to more selective mining methods on higher grade veins during the first quarter and higher ore throughput and recoveries in the second quarter. Kansanshi achieved its highest annual gold production since 2021.
Meanwhile, First Quantum’s Sentinel copper mine in Kalumbila reported production of 189,000 tonnes for the full year, 42,000 tonnes below 2024 due to lower grades and higher maintenance, partially offset by higher throughput. Grades were lower than 2024 due to the mining of lower grades compared with mining in 2024 from high-grade areas.
Nickel production at First Quantum’s Enterprise mine in Kalumbila was 23,000 tonnes, an increase of 21 percent compared with 2024, marking its first full year of operations and demonstrating a strong ramp-up and operational performance.
“The Zambian operations continued to deliver strong operational performance in 2025. We accomplished another milestone for the company, achieving commercial production of the Kansanshi S3 Expansion at the end of 2025. The project was completed under budget and continues to ramp up in line with expectations, benefiting from the in-house project development expertise that we have built over the past two decades at First Quantum. With S3 complete, First Quantum is positioned to deliver sustainable organic growth over the full three‑year guidance period,” said Tristan Pascall, Chief Executive Officer of First Quantum.
The company also reported budgets for Kansanshi capital expenditure in Zambia over the next three years of approximately US$275 million, including US$90 million relating to additional South East Dome pre-stripping activities at Kansanshi and US$45 million for the installation of a second primary in-pit crusher at Kansanshi; US$30 million in capital expenditure for the relocation of in-pit crushers; and US$25 million for an additional tailings pipeline at Trident; and US$20 million for STATCOMs at both Kansanshi and Sentinel to improve grid stability across Zambia.
Further sustainability-related project capital has been earmarked for replacement of the Kansanshi ex-pit mining fleet with more efficient and trolley-compatible trucks and continued expansion of Quantum Electra-Haul™ trolley-assist infrastructure across the Zambian operations to reduce diesel consumption and associated mine fleet greenhouse gas emissions, with the potential for future integration with battery powered mining trucks. ; The company provided copper production guidance of 175-205,000 tonnes and 190-220,000 tonnes for Kansanshi and Sentinel, respectively; and 30-40,000 tonnes of nickel for Enterprise. Gold production guidance for Kansanshi for 2026 is 110-120,000 ounces.
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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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