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First Quantum Minerals Draws Takeover Interest

  • Shares posted their biggest two-day gain since early 2016
  • The miner hasn’t yet received any formal takeover offers
mine truck
Photographer: Taylor Weidman/Bloomberg
Updated on

First Quantum Minerals Ltd. shares posted their biggest two-day jump since early 2016, after people with knowledge of the matter said the owner of Africa’s biggest copper mine was drawing preliminary takeover interest from global miners.

Vancouver-based First Quantum, which has a market capitalization of C$8.42 billion ($6.35 billion), is working with defense advisers to examine its options, the people said. The company attracted potential buyers after losing about half its value in the five years through Wednesday.