First Quantum Said to Seek Buyer for Turkish Copper Mine

First Quantum Minerals Ltd. is looking to sell its copper and zinc mine in Turkey as it seeks to strengthen its balance sheet, according to people familiar with the situation.

The Canadian company started a sales process this month for Çayeli, one of Turkey’s largest underground mining operations, said the people, who asked not to be identified discussing confidential information. The mine, which is among First Quantum’s smaller assets, is valued at around $400 million, the people said.