First Quantum Minerals Ltd Abandons Plan to Sell Minority Stakes in Zambian Copper Mines

First Quantum Minerals Ltd has announced that it will no longer pursue the sale of minority stakes in its Zambian copper mines. This decision follows the company’s recent securing of a $1 billion gold-streaming deal, which has alleviated balance-sheet pressures.

The gold-streaming deal is expected to provide a significant source of revenue for the company, reducing the need to sell minority stakes in its Zambian operations. The company’s financial situation has been a subject of interest in recent months, with the closure of the Cobre Panama copper mine in late 2023 having a notable impact on Panama’s economy.

However, the Panamanian economy is expected to rebound this year, with the closure of the Cobre Panama mine no longer having a significant impact on the country’s economic performance. The company’s stock price has remained relatively stable, with a recent close price above its 52-week low, indicating a recovery from previous lows.

Key Developments:

• First Quantum Minerals Ltd has abandoned its plan to sell minority stakes in its Zambian copper mines.
• The company has secured a $1 billion gold-streaming deal, alleviating balance-sheet pressures.
• The Panamanian economy is expected to rebound this year, following the closure of the Cobre Panama copper mine in late 2023.
• The company’s stock price has remained relatively stable, with a recent close price above its 52-week low.