First Quantum in talks to sell minority stake in Zambian copper assets

First Quantum in talks to sell minority stake in Zambian copper assets
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TORONTO — First Quantum Minerals Ltd. says it’s in talks regarding a potential sale of a minority interest in its Zambian copper assets.

However, the Canadian miner says it has not held any talks regarding a takeover of the company.

It also said there could be no guarantee that a transaction for a minority stake in the Zambian assets will be reached.

The comments follow speculation last week about a possible bid for the company by Chinese mining company Jiangxi Copper Corp. Ltd.

Shares in the company rose late last week following reports citing unidentified sources regarding takeover interest in the company.

However, First Quantum says it has not engaged in any discussions regarding a takeover bid or other change of control transaction and has no knowledge of potential takeover bids.

This report by The Canadian Press was first published Sept. 23, 2019.

Companies in this story: (TSX:FM)

The Canadian Press

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