First Quantum Minerals in Talks for Potential Partnerships in Zambian Assets

First Quantum in talks with potential partners for Zambian assets

(Reuters) - First Quantum Minerals is in talks with potential partners for its Zambian assets, the Canadian miner said on Wednesday, without disclosing names of the firms. Last week, Reuters reported that Saudi Arabia's Manara Minerals is closing in on a deal to buy a minority stake in First Quantum's Zambian copper and nickel assets, citing three people familiar with the details. "We're more open to partnerships, and that includes in Zambia, but only if it's in the interest of our Zambian business, the Zambian government and all the stakeholders involved," First Quantum CEO Tristan Pascall said on a conference call with analysts on Wednesday. Shares of the company were up 2.2% at C$18.78 in early trading. The potential Manara Minerals deal, which could be worth between $1.5 billion and $2 billion, is in the spotlight as copper is a much sought-after element for clean energy transition due to its uses in the manufacture of electric cars and data centers powering artificial intelligence. (Reporting by Tanay Dhumal in Bengaluru and Divya Rajagopal in Toronto; Editing by Maju Samuel)

First Quantum in talks with potential partners for Zambian assets

Oct 23 (Reuters) - First Quantum Minerals (FM.TO), opens new tab is in talks with potential partners for its Zambian assets, the Canadian miner said on Wednesday, without disclosing names of the firms. Last week, Reuters reported that Saudi Arabia's Manara Minerals is closing in on a deal to buy a minority stake in First Quantum's Zambian copper and nickel assets, citing three people familiar with the details. "We're more open to partnerships, and that includes in Zambia, but only if it's in the interest of our Zambian business, the Zambian government and all the stakeholders involved," First Quantum CEO Tristan Pascall said on a conference call with analysts on Wednesday. Advertisement · Scroll to continue Shares of the company were up 2.2% at C$18.78 in early trading. The potential Manara Minerals deal, which could be worth between $1.5 billion and $2 billion, is in the spotlight as copper is a much sought-after element for clean energy transition due to its uses in the manufacture of electric cars and data centers powering artificial intelligence. Reporting by Tanay Dhumal in Bengaluru and Divya Rajagopal in Toronto; Editing by Maju Samuel Our Standards: The Thomson Reuters Trust Principles., opens new tab