BASE METALS

First Quantum maintains guidance despite tough 1Q

First Quantum Minerals has reported net earnings of US$74 million for the March 2023 quarter, 83.6% lower than in the 2022 period largely due to lower production from the Cobre Panama mine in Panama as exports were halted as the company negotiated a new contract with the government.

First Quantum Mineral's Cobre Panama in Panama

First Quantum Mineral's Cobre Panama in Panama

Production was also impacted by weather events in Zambia, as revenues fell to $1.6 billion from $2.2 billion a year ago. "What could go wrong basically did," summarised Jeffries in a research note....

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