First Quantum May Spend $2 Billion More in Zambia

[LesCrozes]

First Quantum May Spend $2 Billion More in Zambia, Phoenix Says
By Anthony Mukwita - Jun 28, 2011 4:44 PM GMT+0200

First Quantum Minerals Ltd. (FM) is studying $2 billion of investment in Zambia, on top of the $1.9 billion it’s already considering for two mines, Radio Phoenix reported, citing the company’s Operations Director Matt Pascall.
The Canadian miner is looking at exploration prospects that may “generate another Trident and another Kansanshi,” Pascall said in an interview with the radio station, referring to the company’s two copper projects. Zambia has favorable legislation and is economically and politically stable, he said.
First Quantum previously said it may spend $1 billion to dig its Trident mine and $900 million to expand the Kansanshi operation. The company is now studying a gold investment in Mumbwa in northern Zambia, and is seeking to team up with a “major investor,” Pascall told the Lusaka-based radio station.

http://www.bloomberg.com/news/2011-06-2 ... -says.html