First Quantum posts Q3 loss after Frontier closure

TSX- and LSE-listed First Quantum has reported a net loss of $136,7-million in the third quarter of the year, mainly as a result of having to close its Frontier copper mine, in the Democratic Republic of Congo (DRC). The loss was compared with...

DRC threatens probe as First Quantum dispute escalates

Democratic Republic of Congo (DRC) Minister of Mines Martin Kabwelulu Labilo said on Tuesday that the government planned to investigate suspected financial misconduct by Canada-based First Quantum Minerals. Spokesperson for the DRC government,...

First Quantum says DRC arbitration could take years

Vancouver-based First Quantum Minerals (FQM) expects its arbitration with the Democratic Republic of Congo (DRC) government over the rights to a copper mine could take years to resolve. Speaking on a conference call on Wednesday, FQM president...

First Quantum posts $101,5m Q2 profit

TSX- and LSE-listed First Quantum Minerals earned $101,5-million in the three months ended June 30, compared with $208-million a year earlier, the company announced on Monday. Profit was hurt by “significantly” lower copper prices compared...

Chrometco agrees to buy majority stake in DRC copper/cobalt firm

AltX-listed Chrometco announced on Tuesday that it had signed an agreement with Democratic Republic of Congo-registered (DRC-registered) Nucoco SPRL, which could see it acquiring 51% of that firm, which owned a copper/cobalt concession in the...