First Quantum names Jiangxi’s Xia to board after standstill deal
First Quantum Minerals appointed Jiangxi Copper Co’s Hanjun Xia to its board of directors after reaching a standstill agreement with its second-largest shareholder earlier this year.
The Canadian copper producer announced Xia’s appointment along with Juanita Montalvo, a managing partner at a Cuban financial advisory firm, in its earnings statement released Tuesday.
Xia is currently at Jiangxi and served most recently as president of marketing and trading, according to First Quantum. Xia has held various roles at xthe company over two decades.
The appointment follows a shareholder rights agreement struck in July that prevents Jiangxi, a state-owned Chinese mining firm, from buying more stock in First Quantum or selling a shares block of 5% or larger without the Canadian miner’s consent. The three-year agreement also gave Jiangxi the right to nominate one person for consideration by First Quantum’s governance committee to the board of directors.
The standstill deal follows efforts by Canada’s government to crack down on Chinese investment in the critical minerals sector. Canada said earlier this year it would only approve foreign acquisitions of Canadian critical mineral firms in “the most exceptional of circumstances.”
One of the largest copper smelting companies in the world, Jiangxi has an 18.5% stake in First Quantum and bought an additional $212-million in shares in January.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.
VISIT SHOWROOM
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
