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First Quantum suspends production at its copper/gold mine in Zambia

Michael Allan McCrae | January 4, 2012 | 9:55 pm Base Metals Africa Europe Copper 

First Quantum announced that it is suspending production at its 80%-owned Kansanshi copper/gold mine in Zambia due to a labour dispute that started yesterday.

“Every effort is being made to understand and resolve the issues behind the dispute and we will keep our stakeholders informed of developments as warranted,” commented Philip Pascall, First Quantum’s Chairman and CEO.

The markets don’t seem concerned. First Quantum’s stock is up 7.56% over the last five trading days to $21.06 a share.

First Quantum has operations and projects in Zambia, Mauritania, Finland, Australia and Peru.

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