“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.
Shares of the company were up 3% at C$18.93 in morning 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 the clean energy transition due to its uses in manufacturing electric cars and supplying power to data centers for artificial intelligence.
For First Quantum, a stake sale in the Zambian mine would help reduce debt that has ballooned after its flagship Cobre Panama mine was ordered shut last December by the Panama government due to public protests. The company is waiting for a decision on the mine’s future and also for approval from Panama’s new…
