First Quantum Minerals, a Canadian mining company, is reportedly in discussions to sell a portion of its Zambian copper mines to Jiangxi Copper, a state-owned enterprise from China. Although details have yet to be finalized and no specific transaction has been confirmed, these talks could potentially result in the sale of either the wholly-owned Sentinel mine or majority-owned Kansanshi mine, or the acquisition of a stake in one of them by Jiangxi.
The unnamed source, who is familiar with the matter, revealed this information to Reuters. The person mentioned that the negotiations are ongoing and the outcome is still uncertain. However, it is worth noting that Jiangxi Copper is currently the largest shareholder of First Quantum Minerals.
When contacted for comment, a representative from First Quantum declined to provide any further information regarding the talks. Thus, the exact terms and potential implications of the possible deal remain unknown.
It will be interesting to see the impact this sale may have on the Zambian copper mining landscape, as well as on the broader relationship between Canadian and Chinese mining companies. Both First Quantum Minerals and Jiangxi Copper have a significant presence in the mining industry, and any deal between the two would likely have far-reaching implications.
As the negotiations progress, market observers will be keeping a close eye on the developments. Should the talks lead to a successful transaction, it could mark a significant shift in the ownership and operation of the Zambian copper mines.
The source of the article is from the blog maltemoney.com.br