Canada-based copper and gold miner First Quantum has lowered its guidance for 2020 by 75 000 t of copper and 30 000 oz of gold, citing a reduction in production expectations at the Cobre Panama mine, which was temporarily idled after some workers contracted Covid-19.
The TSX-listed mining company reduced its guidance for copper to between 755 000 t and 805 000 t and its gold guidance to between 250 000 oz and 270 000 oz.
The all-in sustaining cost guidance range has been reduced by $0.05/lb, to between 1.65/lb and $1.80/lb and the upper-end of the C1 cash cost guidance has also been lowered by $0.05/lb to $1.20/lb and $1.35/lb.