Power Pact?--First Quantum electricity supply deal to avoid copper project delays

摘要

Base metals producer First Quantum Minerals is "optimistic" it will conclude negotiations "in a short timeframe" with Zambia over a power tariff agreement for the Sentinel copper project the Vancouver-based miner hopes to build in the country.The company aimed to pull the trigger on construction in May, but will not do so without an electricity pact, and needs to start building by August to avoid delays the onset of the rainy season could bring about, president Clive Newall said last week."It's really the August-September date, where, if we haven't got sufficient work done prior to the rains, it can delay it significantly," he told analysts on a conference call to discuss First Quantum's first-quarter earnings.