An updated technical report said the company planned to expand the project from 85 million tonnes per year to 100Mtpy from 2023. The expanded throughput involves the earlier development of the adjacent Colina pit, the addition of a ninth mill, an expanded mining equipment fleet, additional conveyors, an inpit crusher and other infrastructure related to Colina access.
Having processed its first ore in February the company aims to produce 150,000t of copper in concentrate by year-end.
Shares in First Quantum (TSX:FM) opened up over 2% at C$15.11 Friday, valuing the company at $10.1 billion. Its share price has increased about 43% so far this year.