The principal activities of the mine includes mining, prospecting for minerals and processing of ore in Solwezi area of North Western Province. The key notable occurrences in 2023 were:  

 The successful conversion of ZCCM-IH’s dividend right in KMP to a 3.10% Life of Mine Royalty Right. This will ensure that ZCCM-IH’s cashflows are more stable and predictable going forward.  

 KMP implementation of the S3 Expansion project commenced. The S3 Expansion is a significant $1.5 billion investment by First Quantum Minerals aimed at extending the mine’s life into the 2040s, enhancing its production capacity, and generating employment opportunities. It includes expanding the mining pit, upgrading the fleet, and enlarging the processing plant and smelter. This expansion is pivotal for adding value within Zambia and contributes to the nation’s goal of increasing mineral processing locally and aiming to maximize the mine’s output and efficiency, thereby contributing to local economic development and job creation. Completion is anticipated by mid-2025.  

For the year ended 31 December 2023, Kansanshi recorded revenue of ZMW32.30 billion (US$1.57 billion) (2022: ZMW25.98 billion US$1.52 billion). Net profit over the period reduced to ZMW343.83 million (US$16.75 million) from ZMW 2.62 billion (US$153.93 million) in 2022. The geological and hydrological challenges at Kansanshi continued to affect average grades which were at 0.6% in 2023, significantly affecting the amount of copper and gold recovered.  

Royalties received in 2023 were ZMW1,200.19 million (US$56.13 million) and dividends received were ZMW170.74 million (US$9.05 million).