Title_head First Quantum to list on Zambia bourse July 6 201

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Dow Jones reported that First Quantum Minerals Limited will list shares on the Zambian stock exchange July 6th 2011 as seeks to grow its presence in that country.

Mr Godfrey Msiska company official said that First Quantum, which is already quoted on the Toronto Stock Exchange, will list at least 40 million ordinary shares on the Lusaka Stock exchange. The listing will give Zambians a chance to identify and participate in the growth of First Quantum Minerals.

First Quantum operates Zambia's largest copper mine by output, the Kansanshi Copper Mines located on the country's North Western province and is in the process of developing the USD 1 billion Trident Copper Mine in the same province.

First Quantum said earlier this month that it is planning to build USD 500 million copper smelter in the Northwestern Province in order to ease costs and end over reliance on Copperbelt based smelters.

The company also expected to invest at least USD 350 million in expansion projects at Kansanshi in the next three years as it seeks to ramp up annual copper output to 400,000 tonnes by 2015. Last year, Kansanshi produced 231,000 tonnes of copper.

(Sourced from Dow Jones)