On site in Zambia — 08 October 2013 – Sentinel Mine, a US$2 billion copper mine being constructed by Canadian-based First Quantum Minerals in the North-Western Province of Zambia, is 10 months ahead of schedule.
Speaking during a visit to the mine by a Panamanian delegation, construction manager Randy Findlay confirmed that the project was ahead of schedule and within the budget.
“What you see here is what we will replicate in Panama “’ quickly bringing the Cobra project to fruition at a relatively lower cost,” said Findlay, who has 30 years of global experience in constructing large-scale mines.
The pace of development impressed the Panamanian delegation, who observed that Cobra, a similar copper mine development in the Central American nation, had been mired in massive delays and escalating costs, reports allAfrica.com.
FQM recently took over the Cobra project through its acquisition of Inmet.
Delegate Castenadas said FQM must take to Panama the kind of experience and expertise that allowed it to quickly develop large-scale mining projects in a relatively short time and below the cost norms.
This would be of great benefit to the people of Panama, as the Cobra project was the second largest initiative to be undertaken since the construction of the Panama Canal.
Findlay said strengthening Zambia’s largest copper industry to quickly develop large-scale mining projects below cost norms lay in its ability to assemble a multinational team of experts coupled with structured skills and technology transfer to host nations.
Source: allAfrica.com. For more information, click here.