First Quantum Seeking Negotiated Settlement Over Congo Mine

By Michael Kavanagh

Nov. 11 (Bloomberg) -- First Quantum Minerals Ltd., the Canadian company that had a $553 million copper project canceled by the Congolese government, said it’s continuing to seek a negotiated solution to the dispute over the contract.

First Quantum will “if necessary, pursue all available legal remedies, including recourse to international arbitration,” the Vancouver-based company said in a statement yesterday.

Congolese Deputy Mines Minister Victor Kasongo said he had no comment when contacted on his mobile phone in Kinshasa, the capital.

To contact the reporter on this story: Michael Kavanagh in Kinshasa on mkavanagh9@bloomberg.net.

Last Updated: November 11, 2009 03:38 EST