SMM10 18: a few days ago the first quantum (First Quantum Minerals) confirmed that Jiangxi Copper has invested in the company.

In its announcement, first Quantum acknowledged Pangaea Investment Management (PIM) 's announcement about its beneficial ownership of its shares in the company.

Jiangxi Copper (Hong Kong) Investment Co., Ltd., a wholly owned subsidiary of Jiangxi Copper, is the main non-controlling shareholder and lender of PIM.

First Quantum said it had been negotiating with Jiangxi Copper on its copper assets in Zambia in recent months, but it was uncertain that a deal would be reached.

The Kansanshi opencast mine in Zambia, owned by first Quantum, produces 340000 tons of copper a year. In addition, the company also owns the Sentinel copper project in Zambia, the Las Cruces project in Spain, and the Ravensthorpe nickel project in western Australia.

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