Senior copper miner First Quantum reports net income of $1 billion in 'challenging' 2022 FirstQuantum copper
- First Quantum Minerals yesterday reported Q4 2022 net earnings attributable to shareholders of the company of $117 million and adjusted earnings of $151 million .
Copper sales volumes in Q4 2022 totaled 198,912 tonnes, approximately 7,000 tonnes lower than production during the quarter due to timing of shipments, it added. "2022 can be summarized as a challenging year for First Quantum and the mining industry as a whole. The year was characterized by volatile commodity prices and rising costs and interest rates, creating a challenging macroeconomic environment. We remain focused on driving consistent operational performance, successful execution of our brownfield projects and discipline with our capital investments. Debt reduction continues to be a priority," commented CEO Tristan Pascall.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Quantum Minerals sees earnings rise in 2022 despite drop in Q4 - BNN BloombergFirst Quantum Minerals says it earned US$117 million in the fourth quarter of 2022, 52.6 per cent down from US$247 million in the same quarter a year earlier, due to significantly lower cash flows from operating activities.
Read more »
First Quantum Minerals sees earnings rise in 2022 despite drop in fourth quarterCEO Tristan Pascall says 2022 was challenging for the company and the entire mining industry, with volatile commodity prices and rising costs and interest rates
Read more »
Film review: Ant-Man and the Wasp: QuantumaniaLatest Marvel marvel is quantum\u002Dmiddling at best, but the scenery sure is pretty
Read more »
Clock ticking for port services to resume or Cobre Panama will be shut downWhile Canada-based mining company First Quantum Minerals remains locked in discussions with the government of Panama surrounding a refreshed concession contract for the Cobre Panamá mine, the clock is ticking for concentrate exports to restart as storage capacity will become a problem in less than a week. The Panama Maritime Authority (AMP) on January 26 ordered First Quantum’s local subsidiary, Minera Panama, to suspend loading operations at Punta Rincon, citing a certification issue. The blocking exports from the Cobre Panama mine came as a contract dispute between the government and the company over royalties and tax reached a stalemate.
Read more »
2022 Non-Residential Construction Saw Highest Cost Increase in More Than 40 YearsAs inflation and interest rates took their toll, 2022 saw the highest increase in non-residential construction costs in over four decades. StatCan_eng | realestate realestatenews construction interestrates inflation
Read more »