First Quantum Minerals

Africa Mining: First Quantum calls off massive job cuts in Zambia

Posted on January 25, 2019January 25, 2019 by Mozambique Resources Post

First Quantum Minerals (TSX:FM) has scrapped plans to lay off 2,500 workers in Zambia over an increase in mining taxes, and has committed to extend talks with the southern African nation’s government over the issue.

Africa Mining: Zambia’s September copper output up 10.4% y/y

Posted on November 23, 2018 by Mozambique Resources Post

Zambia’s annual copper output rose 10.4% in September to 631 359 tonnes, the central bank in Africa’s second-biggest producer of the industrial metal said on Wednesday.

Africa Mining: Zambia concludes mine tax audits after slapping huge bill on First Quantum

Posted on May 8, 2018 by Mozambique Resources Post

Zambia concluded audits of mining companies that prompted the nation to slap Canadian miner First Quantum Minerals with a tax bill of over 76.5 billion Zambian kwacha ($8 billion), its revenue authority said on Monday.

Africa Mining: First Quantum confirms $7.9bn Zambian tax assessment

Posted on March 21, 2018 by Mozambique Resources Post

(Bloomberg) — First Quantum Minerals Ltd. plunged the most in almost two years as the miner was hit with a $7.9 billion tax bill by Zambia, which accounts for 84 percent of its revenue.

Africa Mining: “Lights back on for First Quantum in Zambia” – Mining Journal

Posted on August 22, 2017 by Mozambique Resources Post

BMO Capital Markets analyst Alex Terentiew reckons he may have overcooked his downward revisions to First Quantum Minerals’ (CN:FM) copper output on the back of a power dispute affecting its Sentinel copper mine and Kansanshi complex in Zambia, after the issue was rapidly resolved.

Africa Mining: Power cuts also affect First Quantum mines in Zambia

Posted on August 16, 2017 by Mozambique Resources Post

Zambia’s state power company Copperbelt Energy Corporation (CEC) confirmed Tuesday it restricted power supply to First Quantum Minerals (LON:FQM) (TSX: FM) mines on Monday, amid an ongoing dispute over the implementation of new electricity tariffs.

Zambia Mining: First Quantum starts up copper mine

Posted on January 2, 2015January 2, 2015 by Mozambique Resources Post

Despite concerns over a mining royalty hike in Zambia that led Barrick Gold (TSX:ABX) to halt operations in the country, Bloomberg reports that First Quantum Minerals (TSX:FM) is starting up a Zambian copper mine. Royalties have recently increased from 6 percent to 20 percent for opencast mines in Zambia.

You Should know this: Zambia aims changes on VAT rule for mining firms, other exporters

Posted on September 3, 2014 by Mozambique Resources Post

Zambia will from September 8 waive a rule requiring mining companies and other exporters to produce import certificates from destination countries in order to claim tax refunds, the Zambia Revenue Authority (ZRA) said.