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First Quantum Minerals Ltd
Symbol FM
Shares Issued 692,453,106
Close 2022-11-30 C$ 31.98
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First Quantum to covert ZCCM dividend rights to royalty

2022-12-01 10:59 ET - News Release

Mr. Tristan Pascall reports

FIRST QUANTUM MINERALS ANNOUNCEMENT IN RESPECT OF KANSANSHI MINING PLC

First Quantum Minerals Ltd. has agreed with its partner, ZCCM Investments Holdings PLC, to convert ZCCM-IH's dividend rights to a 3.1-per-cent revenue royalty. ZCCM-IH will continue to be represented on the Kansanshi Mining PLC (KMP) board to ensure full visibility and transparency in respect to KMP's future operations.

"We are pleased to enter into this new arrangement for the benefits flowing from the Kansanshi mine. The updated arrangement ensures alignment between both First Quantum and ZCCM-IH going forward, including the delivery of the S3 expansion project at Kansanshi. We look forward to continuing the collaborative relationship with ZCCM-IH as we advance KMP," commented Tristan Pascall, chief executive officer.

We seek Safe Harbor.

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