The Vancouver-based miner is the sole owner of the Sentinel copper mine and has a 80% stake in the Kansanshi mine, both in Zambia.
Jiangxi, First Quantum’s top shareholder, is said to be evaluating the acquisition of one of the two mines or a stake in one of them, according to the report.
First Quantum’s presence in Zambia, Africa’s second-largest copper producer, also includes the Fishtie copper project, near the border with the Democratic Republic of Congo.
The companies, which have been exploring the asset since 2012, recently announced it would speed up development with the goal of beginning production in 2026.
The news adds to several other rumours about First Quantum’s future, which include an alleged takeover in the making by fellow Canadian miner Barrick Gold (TSX: ABX), (NYSE: GOLD).
The gold giant has been expanding into copper as of late as it aims to double production of the metal to 1 billion pounds by…
