First Quantum rubbishes Zambian arbitration claims

Base metals miner First Quantum Minerals on Wednesday rubbished two claims by Zambia government-owned ZCCM International Holdings (ZCCM), filed days apart, which seek to recover money involved in transactions between First Quantum and certain subsidiaries. ZCCM is a 20% shareholder in the Kansanshi Mining PLC (KMP) and, on October 27, filed a notice of arbitration against KMP and Kansanshi Holdings, the 80% shareholder of KMP.