New hydro plants planned to supply Zambian mining industry

FQM operates in Zambia’s portion of the Lobito Corridor, a priority economic corridor for regional trade and mineral development, supported by the US Government and other G7 partners.

Anzana recently signed a binding term sheet with Zambia’s state power utility ZESCO toward forming a joint venture to expand the national grid and connect two 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 a region 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 three-year period and more than 30 permanent operations jobs for decades to come, providing many rural Zambians with 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. When 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 opera- tions in Zambia,” FQM’s Zambia Country Director, Anthony Mukutuma, said. “Accessing new hydropower through the national grid, in coordina- tion with ZESCO, supports our long- term energy requirements while also strengthening the electricity system and Zambia’s broader development agenda.”

“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 grid overall,” said Brian Kelly, CEO of Anzana.