FQM finally lists on Lusaka Bourse to entice more Zambians i

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FQM finally lists on Lusaka Bourse to entice more Zambians in share ownership
Friday, 22 Jul, 2011
First Quantum Minerals Limited, one of Zambia’s leading copper miners and Toronto listed miner, was due to list its
Zambian Depositary Receipts on July 20th 2011 and open its trading on the Lusaka bourse.
In a statement from the sponsoring brokers, Pangea EMI of Lusaka, the recipients, known as ZDRs were by press time,
Wednesday expected to be listed and admitted to trading on the Lusaka Stock Exchange officially. The listing, if successful,
makes it the second mining company to undertake business on the Lusaka bourse besides Zambia Consolidated Copper
Mines Investment Holdings which however is quoted on the capital market.
According to the sponsoring brokers, the ZDRs will trade on the LuSE under the symbol FQMZ. Further to prior
announcements, Renaissance Capital and First Quantum Minerals Limited are pleased to confirm that following closure of
the offer period, First Quantum’s Zambian Depositary Receipts will be listed and admitted to trading on the Lusaka Stock
Exchange from July 20th 2011. Each ZDR will represent interests in First Quantum’s underlying Common Shares. An
allotment announcement with full details of the listing will be published prior to listing.
Ms Beatrice Nkhanza CEO of Lusaka bourse is elated at the development and hailed First Quantum for becoming the first
mining company to issue shares on the local stock exchange. The listing avails Zambians the opportunity to invest directly in
the company.
Ms Nkhanza said that the capital market is very excited about this development and establishes the LuSE as a prime listing
destination for multinational mining companies operating in the region.
Mr Ceaser Siwale CEO of Pangaea Renaissance Securities Limited said that the decision was welcome as it pointed to the
growth of the capital market. The First Quantum listing has been very well received by Zambian investors, and we at
Renaissance Capital are delighted to have worked with First Quantum to bring this landmark transaction to the Zambian
market. Renaissance Securities are the book runners for FQM.
Mr Kwalela Lamaswala resident director of FQM said that the listing is in recognition that Zambians are important
stakeholders of First Quantum and creates another way for Zambians to identify with and participate in the growth of the
company.
According to data, the listing of shares on Zambian Depository Receipts on the Lusaka Stock Exchange meant availed
Zambians an opportunity to invest directly in the company. The ZDR will trade on the LuSE under the symbol FQMZ and
each depository receipt will represent interest in First Quantum’s underlying common shares.
Earlier, Mr Kwalela Lamaswala company resident director said that the listing of the shares on the local bourse was in
recognition that Zambians were important stakeholders of the miner, one of the country’s leading copper producer and
renowned to be 100% tax payer to the Zambian government.
Mr Lamaswala said that the listing is in recognition that Zambians are important stakeholders of First Quantum and creates
another way for Zambians to identify with and participate in the growth of the company. In June, the company announced its
plans to list on the local bourse adding that shares would be purchased through the Zambian stock brokers by institutional and
retail investors. First Quantum’s common shares are listed on the Toronto Stock Exchange and on the London Stock
Exchange. It operates the Kansanshi Mining which produces copper and gold.
Information available from the company states that Kansanshi Mine in Solwezi, near the border with Angola, provides
employment to about 5,500 Zambians and has commenced phase one project to expand copper production capacity from the
present 250,000 tonnes to 400,000 tonnes per year by 2015.
The mine is undergoing production capacity expansion in the Phase I to include oxide circuit treatment capacity to be
commissioned in the last quarter of this year. In the Phase II the putting up of the new concentrator will start next year and
will be commissioned by 2014. The company is presently evaluating the technical details on the establishment of a copper
smelter so that the concentrates could be processed within Kansanshi and cut down on costs related to transport and payment
of services to processing company.

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