TSX-listed copper miner First Quantum Minerals has reported a comparative second-quarter loss of $84-million, or $0.12 a share, compared with earnings of $87-million a year earlier.
The company’s net loss increased to $156-million in the three months ended June, from net earnings of $78-million in the prior-year period.
Sales revenues, however, increased by 8% year-on-year, to $1.01-billion, primarily owing to copper and gold sales from Cobre Panama and higher sales from Las Cruces. These were offset by lower realised copper prices and the timing of sales at Sentinel delayed by an outage at a third party smelter.