Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, October 4, 2019

Article Excerpt

FIRST QUANTUM MINERALS LTD., $9.67, symbol FM on Toronto, is a Vancouver-based mining company. It owns the largest copper mine in Africa, Kansanshi. It also has copper properties in Spain, Finland, Australia and Turkey as well as a development project in Panama. The open-pit Kansanshi mine is in Zambia, with 340,000 metric tons of annual copper production capacity. The company has been in a dispute with the government of the southern African nation about several issues, from royalty increases to the planned introduction of a sales tax. First Quantum also owns other assets around the world, including the Sentinel copper operation in Zambia, Las Cruces in Spain and the Ravensthorpe nickel mine in Western Australia. The company also started ramping up production at the giant Cobre Panama copper development project in the central American country earlier this year. The copper miner’s stock has lost half its value over the past five years. First Quantum has now reportedly attracted the interest of Chinese state-controlled mining…