First Quantum in talks to sell minority stake in Zambian copper assets
2019-09-24 13:51:27 [Print]
Canadian-based First Quantum Minerals Ltd. says it's in talks regarding a potential sale of a minority interest in its Zambian copper assets.
It also said there could be no guarantee that a transaction for a minority stake in the Zambian assets will be reached.
However, the Company says it has not held any talks regarding a takeover of the company. The comments follow speculation last week about a possible bid for the company by Chinese mining company Jiangxi Copper Corp. Ltd. However, First Quantum says it has not engaged in any discussions regarding a takeover bid or other change of control transaction and has no knowledge of potential takeover bids.
Among First Quantum's Zambia assets is the Kansanshi operation, Africa's largest copper mine, which is expected to produce 235,000t copper and 135,000oz gold in 2019, up from 2018 production of 251,522t and 130,019oz, respectively. Second in line is Sentinel which is expected to produce 230,000 tonnes of copper this year, marginally more than the 2018 total of 223,656t.
It also said there could be no guarantee that a transaction for a minority stake in the Zambian assets will be reached.
However, the Company says it has not held any talks regarding a takeover of the company. The comments follow speculation last week about a possible bid for the company by Chinese mining company Jiangxi Copper Corp. Ltd. However, First Quantum says it has not engaged in any discussions regarding a takeover bid or other change of control transaction and has no knowledge of potential takeover bids.
Among First Quantum's Zambia assets is the Kansanshi operation, Africa's largest copper mine, which is expected to produce 235,000t copper and 135,000oz gold in 2019, up from 2018 production of 251,522t and 130,019oz, respectively. Second in line is Sentinel which is expected to produce 230,000 tonnes of copper this year, marginally more than the 2018 total of 223,656t.
Copper Conc. TC 25%min CIF China
Unit:USD/mt
China copper concentrate producers' output statistics by province by month
Unit: mt
