First Quantum signs 15-year Cobre Panama offtake agreement with LS Nikko - sources

First Quantum has agreed to supply South Korean copper smelter LS Nikko with copper concentrates from its Cobre Panama project over a period of 15 years, sources with direct knowledge of the matter confirmed with Fastmarkets.

The Canadian miner will ship 122,000 tonnes per year of copper concentrates from Cobre Panama to Korea under an offtake contract decided two years ago that was finally signed during last week’s LME Week.
“Every term has now been agreed,” one source said.

LS Nikko previously owned a 10% interest in Cobre Panama before selling the stake to...


Julian Luk

November 06, 2019

15:10 GMT