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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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.
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.
The deal allows Cobre Panamá to remain operational for a further 20 years
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