Canada’s First Quantum Minerals posted a surprise profit on Thursday, helped by higher sales and production, driven by a ramp up of its Cobre Panama copper mine.
First Quantum’s total copper production rose 29% to 204 270 t, while sales jumped 31.8%.
The company has been actively developing its Cobre Panama project, which started commercial production last September, with its final mill becoming operational in mid-December. Cobre is among Panama’s largest copper mines.