First Quantum Scraps Plan to Sell Zambian Copper Mine Stakes

First Quantum Minerals Ltd. has shelved a plan to sell minority stakes in its Zambian copper mines, after a $1 billion gold-streaming deal eased balance-sheet pressures.

Early last year, the company said it was considering offloading minority interests in its Kansanshi and Sentinel operations in Zambia, after it was forced to shut its flagship mine in Panama in late 2023. Chief Executive Officer Tristan Pascall said the deal this month to sell part of Kansanshi’s gold output to Royal Gold Inc. has helped change the need to divest.