Zambia President orders case against First Quantum to be dropped

Zambian President Edgar Lungu has instructed that the fraud case the State investment company brought against the country’s biggest copper producer and some of its directors be dropped, his spokesman said. Arbitration over the matter will continue in London. First Quantum Minerals, based in Vancouver, had written to Zambia’s attorney general expressing fears that directors named in the case could be arrested if they enter Zambia, where it produced more than 70% of its copper last year, and asked him to intervene.