Barrick Gold CEO Mark Bristow has spoken with some of First Quantum Minerals’ major investors to gauge their support for a potential takeover as the gold giant seeks to become a major copper producer, reported Bloomberg. Canadian-based First Quantum has been left vulnerable after Panama ordered the closure of its new Cobre Panama mine last month, wiping out more than…
Read MoreCanadian miner First Quantum has confirmed two fatalities, both contractors, at its Kansanshi and Sentinel operations in Zambia. The first was a worker from a Reliant Drilling at the operator’s Kansanshi open-pit copper mine in the North Western province on 23 November. The incident involved a fall of ground at the underground dewatering decline. In a separate incident on Friday,…
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Panama President Laurentino Cortizo declared a total ban on all new mining projects, effective October 27, reported Reuters. Cortizo said the new restriction will apply to both future mining projects as well as those currently seeking permits. The abrupt halt comes as the government defends a controversial extension of First Quantum’s Cobre Panama contract. The deal guarantees the country an…
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After days of protests, Panama President Laurentino Cortizo said the country would hold a referendum to decide whether to scrap a contract with First Quantum’s local subsidiary Minera Panama, reported Reuters. The vote will take place December 17 and its result will be binding. The news agency said Panama’s government and Minera Panama agreed on a contract which would guarantee…
Read MoreRio Tinto has inked a joint venture agreement to progress development of one of the world’s largest undeveloped copper deposits, the La Granja copper project in Peru. Under the proposed transaction, First Quantum will acquire a 55% stake in the project for $105 million. It will also further invest up to $546 million into the JV for capital and operational…
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Hitachi Construction Machinery has signed a letter of intent (LOI) with First Quantum Minerals for the advancement of a zero-emission partnership and development of sustainable solutions at the latter’s Zambia operations. A proof of concept is planned for implementation as part of the LOI, with Hitachi supplying the first of its full battery, rigid frame dump trucks fitted with an…
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Panama Deputy Environment Minister Diana Laguna said the country will not allow Canadian miner First Quantum to expand the area of its existing copper mining operations, reported Reuters.
Read MoreFranco-Nevada and partner First Quantum, after first being notified of such by government officials in mid-December, confirmed it will be preparing the Cobre Panama copper operation to enter a care-and-maintenance mode. The companies said they are responding to a direction from the Ministry of Commercia and Industries related to the mine and developing a preparation plan to cease operations. Current…
Read MoreCanadian-based global copper miner First Quantum has appointed Tristan Pascall, the company’s current COO, to take over as CEO next year. View full article from North American Mining.
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