First Quantum

Africa Mining: First Quantum given time to solve $7.9bn Zambian tax row

Posted on July 6, 2018July 6, 2018 by Mozambique Resources Post

Zambia agreed to give First Quantum Minerals more time to complete its analysis of what the company might owe the southern African nation after it was slapped with a $7.9-billion tax bill, according to the Finance Minister.

Africa Mining: First Quantum, Barrick hit by power cuts in Zambia

Posted on July 29, 2015 by Mozambique Resources Post

Power cuts in north-western Zambia, Africa’s second-biggest copper producer, have affected production at mines run by Canada’s First Quantum Minerals and Barrick Gold, an industry body said on Tuesday. Zambian power utility Zesco Ltd is limiting power it supplies to customers, including mining companies, after water levels at its hydro-electric plants dropped due to drought.

Still The VAT Dossier: First Quantum says Zambia royalty hike will hit investment, jobs

Posted on October 14, 2014October 14, 2014 by Mozambique Resources Post

Zambia’s largest foreign investor, Canadianmining group First Quantum Minerals, warned on Tuesday that the country’s decision to raise mining royalties from 2015 would discourage future ventures and hit jobs. The Cabinet will increase underground mining royalties to 8% from 6% from next year as part of an effort to revamp the industry’s tax system, Finance MinisterAlexander Chikwanda said in his 2015 budget speech last week.