• First Quantum to sell surplus sulfuric acid amid tightening supply

• Zambia disruptions, Middle East shortages cut sulfur supply significantly

• Rising acid demand threatens regional copper production and output growth

Canada’s First Quantum Minerals said it plans to sell surplus sulfuric acid in Zambia, as supply of the key industrial input tightens due to both domestic and external disruptions.

First Quantum is Zambia’s largest copper producer. Its Kansanshi mine operates a smelter that generates sulfuric acid as a byproduct, a key input in the hydrometallurgical leaching process that underpins roughly 20% of global copper supply.

The site produced nearly 1.1 million metric tons of acid in 2025, volumes that were previously almost entirely consumed internally. With an ongoing smelter expansion, the company expects a surplus, supporting its move to become a supplier. First Quantum also pointed to rising regional prices, driven by low stockpiles and strong local demand.

The announcement comes as several factors constrain supply. Disruptions to sulfur shipments through the Strait of Hormuz — a key route for the raw material used to produce sulfuric acid — have cut off roughly 50% of Middle Eastern supply. Africa relied on that region for about 48% of its sulfur imports in 2025, according to S&P Global.

Domestic constraints are adding to the pressure. Reuters reported last week, citing industry sources, that two sulfuric acid-producing smelters are scheduled for maintenance shutdowns lasting several weeks this year. That is expected to further reduce local availability, as Zambian authorities already impose export restrictions to protect domestic industry.

Capitalising on Regional Supply Tensions

In this context, First Quantum is positioning itself to benefit from tightening supply by selling part of its output and opening new revenue streams. The company is not alone. In the Democratic Republic of Congo, fellow Canadian miner Ivanhoe Mines is pursuing a similar strategy, with plans to sell sulfuric acid output from its new copper smelter into a local market that is also under strain.

That facility, commissioned in late December 2025, has an annual capacity of about 500,000 metric tons of copper and between 600,000 and 700,000 metric tons of sulfuric acid at full capacity. Even so, additional supply from both companies may not fully offset ongoing disruptions. The Congolese market alone represents nearly 2 million metric tons per year and has historically depended on imports, including supplies from Zambia.

Concerns are growing over the outlook for copper production in both Zambia and the DRC, the continent’s leading producers. A prolonged disruption could hamper operations, particularly at sites relying on leaching, putting pressure on output targets in economies heavily dependent on copper exports.

The impact could extend beyond the region. Global copper production growth is already running below earlier expectations. The International Copper Study Group forecasts output growth of 1.6% this year, down from an initial projection of 2.3%, partly reflecting downward revisions for the DRC, Chile and Indonesia following several incidents at mining sites.

Aurel Sèdjro Houenou