FQM Affirms Continued Ownership of Zambian Mines, Dismisses Sale Speculations
First Quantum Minerals (FQM), centered on Zambia, has refuted claims of its intention to sell any share of its copper mines within the country.
FQM boasts an 80% ownership of the Kansanshi copper mine and smelter in Solwezi, alongside complete ownership of the Sentinel copper and Enterprise nickel mines located in the Kalumbila district.
In response to what it labels as “baseless rumors,” the company clarified that it has no ongoing discussions with Chinese State-owned enterprise Jiangxi Copper Corporation, or any other entity, regarding the sale of its Zambian operations.
FQM reiterated its unwavering dedication to its Zambian ventures, emphasizing their significant economic and social contributions to the nation.
It’s worth noting that Jiangxi currently holds an 18.2% stake in FQM. Recent reports from Reuters, based on undisclosed sources, alleged discussions between FQM and Jiangxi for the sale of a portion of its Zambian mines.
These purported talks allegedly began following a setback in Panama, where the Canadian miner was directed to halt operations at a key copper mine.
READ: FIRST QUANTUM CONSIDERS SALE OF ZAMBIAN MINES AMID FINANCIAL STRAIN
