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First Quantum offers $700M for 20% of Zambian copper mine - Bloomberg

Published 02/04/2019, 03:03 PM
© Reuters.  First Quantum offers $700M for 20% of Zambian copper mine - Bloomberg
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  • First Quantum Minerals (OTCPK:FQVLF -1.1%) has offered to buy the Zambian government’s 20% stake in Africa’s biggest copper mine for as much as $700M, Bloomberg reports.
  • The proposal, which was submitted last year, includes $300M-$400M in cash and an equal amount in special royalties over more than 10 years, according to the report.
  • First Quantum already owns 80% of the Kansanshi mine, which accounted for more than half the company’s revenue in 2017.
  • Now read: First Quantum Escalates Conflict With Zambia With 2,500 Planned Layoffs


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