Canadian miner First Quantum Minerals Ltd. (TSX:FM) is in talks to sell a minority interest in its copper assets in Zambia.
The company said in a news release on Monday that it is in discussions with Chinese mining company Jiangxi Copper Corp. Ltd. (OTC:JIAXF) .
Denying rumours of a takeover bid, the company stressed that no transaction has been agreed upon and there is no guarantee that a transaction will be achieved.
FM shares rose last week on rumours of a takeover from an unidentified company, but opened lower on release of this news.