Rio Tinto, Saudi Arabia eye stake in First Quantum’s Zambia copper mines
Rio Tinto and Saudi Arabia-backed Manara Minerals Investment are planning to pick stakes in First Quantum Minerals’ Zambian copper mines, Bloomberg reported.
People privy to the development told the news agency that the Sentinel and Kansanshi mines are also attracting attention from Chinese companies such as Zijin Mining Group.
Japanese trading houses Mitsui and Sumitomo are also said to have been assessing the assets, indicating a broad spectrum of potential bidders.
However, the sale process is still in its early stages, and there is no certainty that the interested parties will submit formal bids.
First Quantum Minerals is reportedly considering the sale of up to a 30% stake in its Zambian copper mines.
