While few Canadians could find Zambia on a map, the Great White North has significant influence over the southern African nation.
A big beneficiary of internationally sponsored neoliberal reforms, a Vancouver firm is the largest foreign investor in the landlocked country of 16 million.
First Quantum Minerals (FQM) has been embroiled in various ecological, labour and tax controversies in the copper rich nation over the past decade. At the end of last year First Quantum was sued for US$1.4 billion by Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH), a state entity with minority stakes in most of the country’s mining firms. The statement of claim against First Quantum listed improper borrowing and a massive tax liability.