Canada's First Quantum delays $1 bln Zambia capex - director

Tue Jun 24, 2014 10:10am EDT
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LUSAKA, June 24 (Reuters) - Canada's First Quantum has delayed investment projects worth more than $1 billion in Zambia due to uncertainty over the fiscal regime in Africa's second biggest copper producer, a director said on Tuesday.

"There has been a lot of uncertainty in the fiscal regime. First Quantum has either slowed down or postponed over $1 billion in capital expenditure because of this uncertainty," company director Matt Pascal told a mining conference.

"If this chorus against the mining industry continues it will end up killing the golden goose," he added. (Reporting by Chris Mfula; Writing by Tiisetso Motsoeneng; Editing by Ed Cropley)