First Quantum Wraps Up $1.25 Billion Zambia Copper Project (1)

First Quantum Minerals Ltd. on Tuesday commissioned a $1.25 billion expansion at its Kansanshi copper mine in Zambia, bringing online a long-deferred project at a crucial time for both the country and the company.

The S3 project — first mooted in 2012 — includes a new processing plant that nearly doubles Kansanshi’s ore-milling capacity, expands the smelter’s throughput capacity by about 25% and opens up a new pit. The firm’s board approved the expansion three years ago, after First Quantum reached agreement with the Zambian government on royalties and tax refunds.

The biggest copper investment in Zambia in almost ...