Business
First Quantum Minerals provides an update on its Zambian operations
First Quantum Minerals provides an update on its Zambian operations Canada NewsWir...
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"\n\n\n\nFirst Quantum Minerals provides an update on its Zambian operations\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 16, 2017\n\n\n\n(In United States dollars, except where noted otherwise)\n\n\n\nTORONTO, Aug. 16, 2017 /CNW/ - First Quantum Minerals Ltd. (\"First Quantum\" or the \"Company\", TSX Symbol \"FM\") today provided the following update on recent developments at its Kansanshi complex and Sentinel mine in Zambia:\n\n\nPower supply to the Kansanshi complex and Sentinel mine has been reduced 15% and 29%, respectively since the afternoon of August 10, 2017.\nThrough management action, budgeted production at both operations was maintained until August 15, 2017 prior to the Kansanshi smelter shutdown.\nOn August 15, 2017, the planned four-week maintenance shutdown of the Kansanshi smelter began.\nBy letters dated June 29 and August 4, 2017, the Company agreed to pay approximately $0.09 per kilowatt hour for both operations, conditional on the state-run power company allowing it to source 200 megawatts of power from other suppliers.\nThe Company also offered to build more capacity in the interconnector from Zimbabwe to Livingstone, Zambia.\nCompany representatives are currently working to resolve the situation. \n\n \n \n\n \n\nFurther updates will be provided as warranted.\n\nOn Behalf of the Board of Directors of First Quantum Minerals Ltd.                     G. Clive NewallPresident\n\nFor further information visit our website at www.first-quantum.com\n\n\n\n\nSOURCE First Quantum Minerals Ltd.\n\n\n\nView original content with multimedia: http://www.newswire.ca/en/releases/archive/August2017/16/c3053.html\n\n\n\n\nNorth American contact: Sharon Loung, Director, Investor Relations, Tel: (647) 346-3934, Fax: (604) 688-3818, Toll Free: 1 (888) 688-6577, E-Mail: [email protected]; United Kingdom contact: Clive Newall, President, Tel: +44 140 327 3484, Fax: +44 140 327 3494, E-Mail: clive.newa...