Latest news with #FirstQuantumMinerals
Reuters
a day ago
- Business
- Reuters
Zambia launches 100 megawatt solar plant supplying First Quantum Minerals
LUSAKA, June 30 (Reuters) - Zambia's President Hakainde Hichilema on Monday opened the country's biggest grid-connected solar power plant, built by PowerChina, which will supply electricity to copper miner First Quantum Minerals ( opens new tab. The 100 megawatt Chisamba project is expected to reduce the Southern African country's reliance on electricity imports from neighbours South Africa and Mozambique. It will free up capacity for Zambian consumers that would have otherwise been used by First Quantum Minerals. Zambia depends on hydropower for the bulk of its electricity generation needs, and low water levels because of a severe drought have forced state utility Zesco to ration electricity. Hichilema said at a launch event that the drought highlighted the need to urgently diversify the power mix. There are plans to add another 100 MW of capacity at the Chisamba site, although a timeframe for the expansion has not been laid out.
Canada Standard
23-06-2025
- Business
- Canada Standard
Canadian company suspends operations after African mine death
The decision followed a fatal accident at a pit in Zambia, First Quantum Minerals has reported Canadian firm First Quantum Minerals has temporarily suspended operations at one of its Trident mines in Zambia following the death of an employee in a dump truck accident. The incident occurred at a pit at the Sentinel copper mine, located 150km west of Solwezi in the northwestern province of the southern African country, the mining company said in a statement on Monday. The "operations in the area of the accident have been temporarily suspended and will resume once it is determined that it can be done in a safe manner," it stated. The company said it had notified local authorities about the "tragic loss" and that an internal investigation is currently underway. First Quantum is a major player in Zambia's copper-rich northwestern province, where it operates two major mines - the Kansanshi mine and the Sentinel mine, as part of its larger Trident project. Its operations, have, however, been marred by several fatal accidents in recent years, including a 2023 dump truck collision at Sentinel and multiple contractor deaths at Kansanshi. Last September, the Toronto-based miner reported that a collision between a tracked dozer and a light vehicle had killed one of its employees. In November the previous year, two contractors at its Zambian operations died in separate incidents. READ MORE: African state strips French nuclear giant of uranium mine The latest incident comes at a time when countries in Africa have revoked the licenses of major Western mining firms over a series of grievances, including alleged unpaid taxes. Last Thursday, Niger's military government announced plans to nationalize Somair uranium, a local venture operated by the French state-owned nuclear company Orano since 1971, amid an escalating dispute between the miners and the West African nation. Governments in neighboring Burkina Faso, Guinea, and Mali have also moved to review mining contracts in recent months, seeking to boost revenue from their extractive industries. Earlier last Monday, Mali temporarilystrippedCanadian firm Barrick of control over the country's largest gold mining operations, citing alleged unpaid taxes and royalties. In 2023, First Quantum lost control of its flagship Panama copper mine after the country's Supreme Court nullified its contract and the maritime authority blocked export permits. (
Canada News.Net
23-06-2025
- Business
- Canada News.Net
Canadian company suspends operations after African mine death
The decision followed a fatal accident at a pit in Zambia, First Quantum Minerals has reported Canadian firm First Quantum Minerals has temporarily suspended operations at one of its Trident mines in Zambia following the death of an employee in a dump truck accident. The incident occurred at a pit at the Sentinel copper mine, located 150km west of Solwezi in the northwestern province of the southern African country, the mining company said in a statement on Monday. The "operations in the area of the accident have been temporarily suspended and will resume once it is determined that it can be done in a safe manner," it stated. The company said it had notified local authorities about the "tragic loss" and that an internal investigation is currently underway. First Quantum is a major player in Zambia's copper-rich northwestern province, where it operates two major mines - the Kansanshi mine and the Sentinel mine, as part of its larger Trident project. Its operations, have, however, been marred by several fatal accidents in recent years, including a 2023 dump truck collision at Sentinel and multiple contractor deaths at Kansanshi. Last September, the Toronto-based miner reported that a collision between a tracked dozer and a light vehicle had killed one of its employees. In November the previous year, two contractors at its Zambian operations died in separate incidents. READ MORE: African state strips French nuclear giant of uranium mine The latest incident comes at a time when countries in Africa have revoked the licenses of major Western mining firms over a series of grievances, including alleged unpaid taxes. Last Thursday, Niger's military government announced plans to nationalize Somair uranium, a local venture operated by the French state-owned nuclear company Orano since 1971, amid an escalating dispute between the miners and the West African nation. Governments in neighboring Burkina Faso, Guinea, and Mali have also moved to review mining contracts in recent months, seeking to boost revenue from their extractive industries. Earlier last Monday, Mali temporarilystrippedCanadian firm Barrick of control over the country's largest gold mining operations, citing alleged unpaid taxes and royalties. In 2023, First Quantum lost control of its flagship Panama copper mine after the country's Supreme Court nullified its contract and the maritime authority blocked export permits.
Yahoo
23-06-2025
- Business
- Yahoo
TSX futures tick higher even as middle east tensions grow
(Reuters) -Futures linked to Canada's main stock index edged higher on Monday amid escalating geopolitical tension after the U.S. joined Israel in striking Iran's nuclear facilities over the weekend. Futures on the S&P/TSX index were up 0.2% at 06:51 a.m. ET (10:51 GMT). Iran said on Monday that the U.S. attack on its nuclear sites expanded the range of legitimate targets for its armed forces and called U.S. President Donald Trump a "gambler" for joining Israel's military campaign against the Islamic Republic. Over the weekend, the U.S. had launched strikes on Iran's nuclear facilities, and Trump hinted at the possibility of regime change in Iran. Canadian Prime Minister Mark Carney said on Monday that he spoke with Trump on issues ranging across de-escalating the conflict in the Middle East, NATO's proposed summit this week and trade negotiations with the U.S. In commodities, gold eased on Monday as the dollar held firm. Oil prices, rose amid rising concerns around Iran shutting the Strait of Hormuz, a key oil supply route. First Quantum Minerals said an employee working at the company's Trident project in Zambia passed away following an incident involving a dump truck. The Toronto Stock Exchange's S&P/TSX composite index was barely changed on Friday. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report [.TO] Canadian dollar and bonds report [CAD/] [CA/] Reuters global stocks poll for Canada Canadian markets directory
Yahoo
23-06-2025
- Business
- Yahoo
First Quantum Minerals reports fatality at Zambia copper mine
(Reuters) -First Quantum Minerals said on Monday an employee working at the company's Trident project in Zambia passed away following an incident involving a dump truck. The Canadian miner said the incident occurred at a pit at the Sentinel copper mine, adding that local authorities had been notified about the accident. The company said it had temporarily suspended operations in the area of the accident and will resume them once it is safe to do so. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
