First Quantum Says Tribunal Bars Kolwezi Transfer

First Quantum Minerals Ltd. said an arbitration tribunal hearing in Paris relating to its Kolwezi project in the Democratic Republic of Congo prohibited any transfer of the permit covering the copper and cobalt project.

Eurasian Natural Resources Corp. said yesterday it bought 50.5 percent of Camrose Resources Ltd. for $175 million, giving it a license to the Kolwezi venture. First Quantum and its partners still hold the “exclusive rights” to the project, the Vancouver-based company said in a statement.