Business
FQM Founder Shareholder KWALELA LAMASWALA Dies
One of the founder shareholders of First Quantum Minerals and Chairperson of...
By Masauso Mkwayaya
One of the founder shareholders of First Quantum Minerals and Chairperson of Diversified Minerals Group, KWALELA LAMASWALA, has died.
A statement issued by the family in LUSAKA says Mr. LAMASWALA died on Tuesday, September 15, 2026.
Born on October 26, 1942, Mr. LAMASWALA also served as Chairperson of ZESCO and was a founder of the Metal Marketing Corporation of Zambia -MEMACO, the state body responsible for marketing the country’s metals.
He also represented Zambia at the Intergovernmental Council of Copper Exporting Countries -CIPEC, a forum for copper-producing nations.
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In the mid-1990s, during the privatisation period, Mr. LAMASWALA joined PHILIP PASCALL, CLIVE NEWALL and MARTIN ROWLEY in founding what later became First Quantum Minerals -FQM.
The group’s first operation involved the processing of tailings at Bwana Mkubwa in Ndola.
Mr. LAMASWALA is survived by his children and grandchildren.
Source: Zambia24 — Read more
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