First Quantum, Chariot, Total Eren to build solar, wind power plant in Zambia

First Quantum Minerals Ltd. signed a partnership with Chariot Ltd. and Total Eren SA to advance the development of a 430-MW solar and wind power project for the company's mining operations in Zambia, including the Kansanshi copper and gold mine.

The flagship project will expand Zambia's renewable energy capacity and will help First Quantum reach its target to reduce its carbon footprint by 30% by 2025, according to a March 21 statement.

"It will help the country realize some of its untapped solar and wind resources by attracting large-scale foreign investment and adding significant renewable energy capacity. In line with Zambia's Vision 2030, the project will further contribute to improving Zambia's energy mix, reducing expensive regional power imports and exposure to fuel prices," Anthony Mukutuma, general manager at First Quantum's Kansanshi mine, said in the statement.

S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.