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First Quantum Minerals said on Wednesday it would get a $500-million shot in the arm from Jiangxi Copper, the Canadian miner’s largest shareholder, that will help it to shore up finances.will see First Quantum deliver 50,000 tonnes of copper anode per year to the Chinese miner. The material will be extracted at the Kansanshi mine in Zambia and is payable at market prices, the company said.
The Vancouver-based company noted it is in talks with lenders to amend and extend its loan facilities, and expects a conclusion “in the near term.” First Quantum holds out hope the upcoming Presidential elections in Panama will bring a change in fortune for its copper mine. (from strategic investors in its Zambian business, and is running a sales process for its small Las Cruces mine in Spain, chief executive Tristan Pascall said
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