First Quantum Minerals Ltd. is poised to fire up a giant copper project in Panama, thousands of miles from its beleaguered mines in Zambia. Where First Quantum does significant business matters to bondholders who closely follow risks associated with lending to companies operating in that particular country. “Panama is investment grade and Zambia isn’t, so there should definitely be an improvement in the bonds as the ramp up of Cobre Panama progresses,” Newall said in the interview in December. The First Quantum bonds are now quoted at about 80 cents on the dollar. Debt Goals First Quantum raised its copper production guidance to 595,000 tons for 2018, it said in October.

Source: thestar January 08, 2019 14:37 UTC