Canadian mining company First Quantum Minerals has revealed it has suspended operations at its Kansanshi copper mine in Zambia after a fatal accident.
The company launched an internal investigation immediately after the accident on Sunday, which involved two mining vehicles that tragically killed an employee.
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The company reported revenues of $6.5m (C$8.76m) for the 2023 financial year, a 15.3% decrease from 2022, according to Mining Technology’s parent company GlobalData.
The company released a statement explaining that the area of the accident was immediately secured and mining operations at the site will resume once the investigation has deemed it safe.
This is the second fatality at the Kansanshi mine in the past year following the death of a contractor at another First Quantum facility.
The company’s mining operations in Zambia are now a significant revenue source after its flagship mine in Panama was shut down last December.
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By GlobalDataThe Cobre Panama mine concluded operations after a series of public protests and a court ruling that rescinded First Quantum’s mining contract.
Since the Panama ruling, First Quantum has been forced to restructure its sourcing of capital. It has since signed a $500m, three-year repayment agreement with Chinese mining company Jiangxi Copper to keep the Kansanshi mine operational.
