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Article: First Quantum Minerals Suspends Construction at Kolwezi Project.
- Article from:
- Marketwire Canada
- Article date:
- September 16, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, BRITISH COLUMBIA, Sep 16, 2009 (Marketwire via COMTEX) -- First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) announces that as of September 16, 2009, it has suspended construction at its Kolwezi Project in the Democratic Republic of Congo ("DRC").
The Kolwezi Project exploitation permit is held under the terms of a Contract of Association, by Kingamyambo Musonoi Tailings SARL ("KMT"), which is owned by the Company: 65%; La Generale Des Carrieres et Des Mines ("Gecamines"): 12.5%; Industrial Development Corporation of South Africa ("IDC"): 10%; the International Finance Corporation ("IFC"): 7.5%; and the Government of the ...