"First Quantum highlighted the company's strong emphasis on community engagement and social license to operate in the jurisdictions in which it operates," BMO Capital Markets analyst Jackie Przybylowski said. 

"The company continues to work closely with its host communities in a collaborative approach, which includes protection of biodiversity, enhanced public infrastructure, and improved education and health care," she said. 

First Quantum has operating mines in Australia, Finland, Turkey, Spain, Mauritania, Zambia, and Panama. It also has development projects in Peru and Zambia. 

First Quantum - which positions itself as one of the world's top-10 copper producers - had its highest annual copper production last year (816,435 tonnes). The company's guidance ranges for 2022, 2023, and 2024 stand at 810,000-880,000t, 840,000-910,000t, and 850,000-910,000t, respectively. 

Przybylowski also said that First Quantum's balance sheet is improving, noting a net debt reduction of US$1.6 billion since June 2020. 

"The original target of US$2 billion is expected to be achieved in H1/22 and the target has been increased by a further US$1 billion. The net debt/EBITDA covenant ratio at December 31, 2021, of 1.6x remains well below the covenant requirement of 3.5x," she said. 

First Quantum traded on the Toronto Stock Exchange on February 28 at C$37.17/share. The company had a market capitalisation of C$25.69 billion.