First Quantum Minerals’ recent investment in Prospect Resources is key to the extension of mine life at Zambia’s Sentinel mine, FQM’s country director Anthony Mukutuma said on Friday.
The Canada-based company made a 15% investment in Prospect in April, becoming the biggest shareholder in the Australia-listed exploration company.
Prospect is exploring the Mumbezhi copper project, which is about 30 kilometres (19 miles) from FQM’s Sentinel mine. FQM has become a key technical partner in the Mumbezhi exploration.
Sentinel mine currently has a mine life of about 12 years remaining and FQM is studying options to extend that, Mukutuma told Reuters.
Initial exploration at Mumbezhi has shown positive results, Mukutuma said, adding that the project had a similar deposit to Sentinel in terms of copper grades.
“It could have a significant impact on the mine life of Sentinel,” he…
