First Quantum in Talks to Sell Zambian Copper Mines Stake, Reuters Reports

Dow Jones01-06

By Robb M. Stewart

--Canadian miner First Quantum Minerals is in talks to sell a stake in its Zambian copper mines to China's state-owned Jiangxi Copper, Reuters reports, citing an unnamed person familiar with the matter.

--The person is cited as saying details are yet to be finalized and it isn't clear whether the latest discussions would lead to a transaction, according to Reuters.

--Jiangxi, First Quantum's top shareholder, could end up buying either the wholly-owned Sentinel mine or majority-owned Kansanshi mine or a stake in one of them, Reuters says.

--Reuters reports that a First Quantum spokesperson declined to comment on the talks.

Full article: https://www.reuters.com/markets/commodities/first-quantum-talks-with-jiangxi-copper-sale-stake-zambian-mines-source-2024-01-04/

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

January 05, 2024 12:30 ET (17:30 GMT)

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