June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

BRIEF-First Quantum Minerals updates on key developments and actions in response to low commodity prices and market volatility

Published 2015-10-05, 08:17 p/m
© Reuters.  BRIEF-First Quantum Minerals updates on key developments and actions in response to low commodity prices and market volatility
HG
-
0P6E
-

Oct 5 (Reuters) - First Quantum Minerals Ltd FM.TO :
* Provided update on key developments and actions in response to the low commodity prices and market volatility
* Revised precious metal stream agreement has been agreed with Franco Nevada Corporation-
* Under revised agreement, co expects Franco-Nevada's initial contribution of between $330 million-$340 million to be paid to co during October
* Estimated capital cost of project, cobre Panama, reviewed in detail and reappraised; now estimates total project cost to be $5.95 billion
* Cobre Panama project remains on track for process commissioning and first concentrate production in late 2017
* Sees 2015 copper production of 385,000-410,000 tonnes, excludes sentinel pre-commercial commissioning production of 30,000-50,000 tonnes
* C1 cost estimate is lowered to between $1.20 and $1.35 per pound
* Source text for Eikon ID:nMKWfRbsla
* Further company coverage FM.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.