Release date: 1 October 2003
Promoter – Financial Intermediary
First Quantum Minerals Ltd.
Head Office:450-800 West Pender Street
Vancouver, British Columbia
Canada V6C 2V6
Borrowers: Kansanshi Mining Plc (for the mining project), and First Quantum Minerals Zambia (for the power line facility)
Location
Description
Development of a new open pit Copper Mine and construction of a Power Line to supply the Mine
Objectives
Development of a new open pit copper mine in North-Western Zambia for the production of 60,000 t/y of copper cathodes and up to 70,000 t/y of copper concentrates for an initial lifetime of 16 years and the construction of a power line to supply the mine
Comments
Mining and Power
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 50 million
Environmental aspects
The project complies with the Bank’s environmental principle of minimisation of negative environmental impacts, and is deemed environmentally acceptable.
Procurement
The procurement procedures applied are in the best interest of the project and will be with regard to the contracts financed by the Bank in accordance with EIB’s rules for funds from the Investment Facility.
Status
Approved - 11/12/2003