Paying our fair share

We are committed to supporting public finances in the countries where we mine. Each year, our contributions to the Zambian Revenue Authority outweigh those of any other mining company.

Adding to national revenues

Our contribution to public finances in Zambia is independently audited by the Extractive Industries Transparency Initiative (“EITI”), which provides a high level of confidence and integrity in our reporting. We’re proud to take part in the initiative to show how we contribute to public finances. The 2018 EITI report showed First Quantum contributed more than ZMW 7 billion to the Zambian Revenue Authority. Since EITI began reporting on Zambia in 2009, the Company has contributed approximately 44 per cent of the total extractive industries’ contribution to Zambian revenue. Our annual contributions have remained in the order of hundreds of millions of US$ for many years although the exact levels fluctuate in line with the copper price.

Contributing beyond tax

Although we operate in five different countries, more than 60 per cent of our total tax revenue is paid in Zambia, which is a figure we report to the Toronto Stock Exchange in Canada where our Company is listed. Of course, our contribution does not stop at paying tax. Since we started operations in 1996, we have invested millions to projects in Zambia to improve education outcomes, support the role of women, address health and housing issues, protect the environment and support local communities including business and agriculture. We employ thousands of local people in our operations, providing ongoing, stable and well-paid support with high safety standards and support them, and their families, with access to health care and other services.

We are proud to support the communities in which we work, including by making substantial contributions to public finances.

Read the latest EITI report here