FQM U-turns, won’t lay off Zambian workers

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First Quantum Minerals Ltd will not be laying-off Zambian workers and remains in dialogue with Government over the new Mining Taxes.

First Quantum will not now proceed with the planned lay-off of any Zambians involved in its production activities.

Furthermore, First Quantum commits to strive to maintain its production where operational constraints allow.

The Zambian mining tax measures introduced on 1 January posed a range of economic challenges to the mining sector.

Following detailed analysis and after having considered various factors resulting from the new taxes, First Quantum has decided to reduce only those elements of its workforce in Zambia associated with Capital Projects.

Notwithstanding this, First Quantum continues to engage closely over the new taxes with the Government of the Republic of Zambia, in order to find an enduring solution which is beneficial to both the Government and the Company.

First Quantum is fully committed to growing its operations in Zambia with the help of the Government.

This is according to a media statement from FQM.