China’s Jiangxi Copper boosts First Quantum stake after stock rout

News Snapshot:

Chinese copper miner Jiangxi Copper Co Ltd has increased its stake in Canadian miner First Quantum Minerals FM-T to 18.5% from 18.3%, after buying a total of 1.35 million shares, according to a public filing in Canada on Wednesday. First Quantum shares have been under pressure since the Panama government moved to revoke the contract for the Canadian miners’ flagship copper mine in the Central American country. Jiangxi Copper, which already is the largest shareholder of First Quantum, made the purchases over three trading days starting Nov. 3, taking its total shares in the Canadian company to 128.2 million shares,...