The company said its existing backer Jiangxi Copper can recommend one nominee to its board, but the China-based company can’t acquire more shares without consent. The three-year agreement has other requirements, such as giving First Quantum the right to designate a buyer if Jiangxi Copper tries to sell a stake of five per cent or more. (The Logic)

Talking point: The deal to curb Jiangxi Copper’s influence comes as the Canadian government cracks down on foreign critical mineral deals, in a bid to protect mineral reserves needed for technology like electric vehicles, wind turbines and semiconductors. Jiangxi Copper agreed not to “vote against any other matters recommended by the company’s board of directors” except in cases of a third party seeking a controlling stake in the firm, First Quantum disclosed in its earnings report.