03:42:38 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Franco-Nevada Corp
Symbol FNV
Shares Issued 192,055,603
Close 2023-10-18 C$ 191.74
Market Cap C$ 36,824,741,319
Recent Sedar Documents

Globe says Franco-Nevada's Lassonde warns on mine sale

2023-10-18 07:59 ET - In the News

The Globe and Mail reports in its Wednesday, Oct. 18, edition that Pierre Lassonde, co-founder and chairman emeritus of Franco-Nevada, is warning Ottawa should be prepared to scrutinize the sale of a massive African copper mine with an ownership structure that includes a company incorporated in British Columbia. The Globe's Steven Chase writes that the Khoemacau copper mine in Botswana is valued at as much as $2-billion (U.S.). As many as three Chinese companies with state ties or owners are reportedly in the running to bid for the copper deposit. Khoemacau Copper Mining is wholly owned by Cuprous Capital, which has its registered office in Vancouver and was incorporated in B.C. in 2012. Cuprous, in turn, is 88.1 per cent owned by private equity firm Cupric Canyon Capital, a company majority owned by money managed by London-based Global Natural Resources Investments, and 11.9 per cent by Resource Capital Fund VII LP. Copper is listed as a critical mineral by the Canadian government. Mr. Lassonde is urging the government to look at any sale of the Botswana copper mine very carefully. He says Ottawa needs to get involved, particularly because of the size of a potential transaction.

© 2024 Canjex Publishing Ltd. All rights reserved.