By JAMES KUNDA –

CONSTRAINED copper smelting capacity in Zambia has negatively affected the annual profits recorded by global Mining giant First Quantum Minerals Limited (FQM), at Kansanshi Mine in Solwezi.
FQM chief executive officer and chairperson Phillip Pascall said inadequate smelting capacity forced a build-up in the copper concentrate inventory at Kansanshi Mine for the greater part of 2013.
“Gross profit globally was unfavourably impacted by US$313 million from lower commodity prices and the build-up in copper concentrate inventory at Kansanshi.The build-up in concentrate inventory was due to constrained copper smelting capacity in Zambia,” Mr Pascall said.
He said despite challenges in adjusting to the constrained smelting capacity in the country, FQM continued to register significant growth in annual copper production at Kansanshi throughout 2013.
At the end of 2013, Kansanshi Mine produced 270, 724 tonnes of copper compared to 261, 351 tonnes produced in 2012.
In other related developments, Mr Pascall announced that FQM recently successfully constructed and commissioned the stage two expansion of the Kansanshi oxide circuit.
FQM has also completed 75 per cent construction works on the $2.4 billion Sentinel Mine at Kalumbila.
“Sentinel project recently passed 13 million man hours and is 75 per cent complete overall, tracking for construction completion as planned,” he added.
The  Sentinel processing  plant design is already complete and the facility is set for commissioning in July, 2014.
When commissioned, Sentinel will produce 300,000 tonnes of copper per annum and boost Zambia’s production of the metal to beyond one million tonnes of the metal.