Tuesday, March 20, 2018

First Quantum Minerals Ltd. - FM.t

First Quantum Minerals Ltd. - FM.t is an established mining and metals company operating six mines and developing five projects worldwide.

The Company’s operations are the Kansanshi copper-gold mine, the Guelb Moghrein copper-gold mine, the Las Cruces copper mine, the Pyhäsalmi copper-zinc mine, the Ravensthorpe nickel-cobalt mine, and the Çayeli copper-zinc mine.
On March 20, 2018 the company released News
First Quantum Minerals Ltd. has responded to a news article about claims made by the Zambia Revenue Authority (ZRA) regarding underpayment of customs duties. The company confirms that it is in possession of a letter from the ZRA, dated March 19, 2018, noting an assessment for import duties, penalties and interest on consumables and spare parts of 76.5 billion Zambian kwacha. ($8.04 billion)

The company unequivocally refutes this assessment, which does not appear to have any discernable basis of calculation, and will continue working with the ZRA, as it normally does, to resolve the issue.