First Quantum rose 0.2% to C$12.88 at 11:02 a.m. in Toronto.
Jiangxi Copper has stepped in to support First Quantum after the Vancouver-based company was forced to close Cobre Panama in November on orders from the Central American government. The Chinese firm, which holds 18.4% of First Quantum, also agreed last week to buy $500 million for copper shipments from a First Quantum mine in Zambia.
Panama accounted for 78% of First Quantum’s operating profit in the first nine months of last year.
(By Jacob Lorinc)
