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(Wallace Refiners) – First Quantum (TSX:FM) reported earnings of $64 million ($0.09 per share) in Q3, Thursday.
Cash flows from operating activities was $452 million ($0.66 per share).
Cobre Panama has resumed normal operations after COVID-19 shutdowns. The company said its net debt position is starting to decline, down $113 million to $7.54 billion as of September 30, 2020.
The realized price for copper was $2.64 per lb for the quarter, 6% higher than the same period in 2019.
Copper production was up. The company produced 211,396 tonnes of total copper in the quarter, 10% higher than the same period in 2019, due to record production at both Sentine and Cobre Panama.
The all-in sustaining cost was $1.48 per lb and cash cost of copper production of $1.07 per lb for the third quarter of 2020, a $0.38 per lb and $0.29 per lb decrease, respectively, compared to the same period in 2019.
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