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First Quantum Minerals (FM) investor relations material
First Quantum Minerals Conference presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Revenue and production overview
Copper represents 82% of 2025 revenue, with gold at 10%, nickel at 5%, and other commodities at 3%.
2026 copper production guidance is 405-475kt, with gold at 150-175koz and consolidated copper C1 cash cost of $2.15-$2.40/lb.
Asset portfolio and operations
Major assets include Kansanshi and Sentinel in Zambia, Cobre Panamá in Panama, and greenfield projects Taca Taca (Argentina) and La Granja (Peru).
Cobre Panamá is the third largest copper mine globally by throughput, currently under Preservation & Safe Management since November 2023.
Kansanshi and Sentinel are top global copper complexes with significant processing capacities and long mine lives.
Project pipeline and growth
Taca Taca and La Granja are among the world’s largest undeveloped copper projects, offering substantial future growth.
Taca Taca targets ESIA approval and water permits in 2026, with a 35-year mine life and average annual copper production of 209kt.
La Granja, in partnership with Rio Tinto, is advancing permitting and stakeholder engagement, with significant measured and indicated resources.
- Q2 2026 copper output and earnings rose, but cost risks from fuel and FX persist.FM
Q2 2026 - Copper demand growth, project expansion, and strong ESG drive future-focused strategy.FM
Conference presentation - All resolutions passed, with strong financials and major project progress highlighted.FM
AGM 2026 - Net loss of $196M in Q1 2026; guidance raised for copper output, costs, and capex.FM
Q1 2026 - Q4 2025 delivered higher profits, Kansanshi S3 ramp-up, and improved liquidity amid rising costs.FM
Q4 2025 - Copper output and EBITDA rose, liquidity improved, and Kansanshi S3 ramped up in Q3 2025.FM
Q3 2025 - Copper output and earnings surged in Q3 2024, but Cobre Panamá remains suspended.FM
Q3 2024 - Q2 copper output rose 2%, EBITDA surged, and Cobre Panamá remains offline.FM
Q2 2024 - Q4 earnings reached $99M, Kansanshi S3 on track, and Cobre Panamá remains suspended.FM
Q4 2024
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