First Quantum Minerals first trading results: up 25%

[bingogo]

The session closed with FQM advancing 25% from the initial listing price of K4,700 to close at K5,875 on the first day of trading on the LuSE. A volume of 5,000 ZDR’s exchanged hands to turnover a dollar volume of $6k.



FQM is the first mining company to issue its shares on the local bourse. LuSE Chief executive Officer, Beatrice Nkanza said, “the capital market is very excited about this development and establishes the LuSE as a prime listing destination for multi-national mining companies operating in the region”.



FQM’s common shares are listed on the Toronto Stock Exchange. It flagship operation is Kansanshi Mine which produces copper and gold. Kansanshi Mining in Solwezi employs about 5,500 workers and has commenced phase one project to expand capacity from the present 250,000 to 400,000 tonnes per year by 2015.



The mine is undergoing production capacity expansion in the first phase to include oxide circuit treatment capacity to be commissioned in the last quarter of this year.



The second phase, will include the putting up of the new concentrator which will start next year and will be commissioned in 2014– Pangaea Renaissance, Times of Zambia, The Post, Wednesday July 20, pg 11.

[mgauthi4]

ca promet pour KR ....