TSX-listed First Quantum Minerals has agreed with its partner ZCCM Investments Holdings (ZCCM-IH), to convert ZCCM-IH’s dividend rights in Kansanshi Mining, in Zambia, to a 3.1% revenue royalty.
ZCCM-IH will continue to be represented on the Kansanshi Mining (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,” comments CEO Tristan Pascall.