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PIF's Manara in talks to buy minority stake in Zambian mines

Summary by AGBI
Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), is in advanced talks to acquire 15 to 20 percent in Canadian miner First Quantum Minerals’ Zambian copper and nickel assets. The stake could be potentially valued between $1.5 billion and $2 billion, Reuters reported, citing informed sources. The transaction is expected to be finalised by the end of the year, the report said.…
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