First Quantum Minerals Ltd. (“FQM”) and Anzana Electric Group (“Anzana”) today announced a strategic collaboration to develop new hydropower generation projects in northern Zambia, with plans for Anzana to provide up to 50 megawatts (MW) of reliable baseload power by 2030 to support FQM’s mining operations in Zambia’s North-Western Province.
FQM operates in Zambia’s portion of the Lobito Corridor, a priority economic corridor for regional trade and mineral development, supported by the U.S. Government and other G7 partners. Anzana recently signed a binding term sheet with ZESCO Limited (ZESCO) toward forming a joint venture to expand the national grid and connect approximately 2 million Zambians across the Corridor to electricity by 2030.
Electricity from Anzana’s proposed hydropower projects is expected to be delivered to FQM through a wheeling arrangement with ZESCO, reflecting Zambia’s continued progress toward open access frameworks that enable private investment in generation while strengthening the national power system.
The hydropower projects will be strategically located in northern Zambia, where hydrological conditions are less exposed to seasonal variability, supporting dependable year-round generation. Development and construction of the projects are expected to create approximately 300 construction jobs for a 3-year period and over 30 permanent operations jobs for decades to come, providing many rural Zambians the opportunity to learn technical skills and build capacity. In addition to diversifying FQM’s power supply base, the projects are expected to deliver broader network benefits, including improved grid stability and reduced losses. Once commissioned, they will also enable additional variable generation projects to be constructed in the immediate area.
Secure access to reliable baseload power is essential for mining operations in Zambia. Accessing new hydropower through the national grid, in coordination with ZESCO, supports our long-term energy requirements while also strengthening the electricity system and Zambia’s broader development agenda.
FQM’s Zambia Country Director, Anthony Mukutuma
This collaboration supports Zambia’s energy sector reforms and aligns mining-led growth along the Lobito Corridor with new investment that will strengthen Zambia’s electricity system overall. By adding dependable baseload power in strategic locations and delivering it through the national grid where it can enable critical industrial development, these projects will benefit FQM, ZESCO, and electricity users across the country.
Brian Kelly, CEO of Anzana Electric Group