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First Quantum Minerals has released its quarterly activities report detailing the company’s financial standing, copper production and the decision to back out of a framework agreement with Northern Dynasty.
First Quantum Minerals (TSX:FM) has reported comparative earnings of US$128 million (US$0.19 per share), net earnings attributable to shareholders of the company of US$135 million (US$0.20 per share) and cash flows from operating activities of US$407 million (US$0.59 per share) for the three months ended June 30, 2018.
Philip Pascall, CEO and chairman of First Quantum said:
“We are pleased with the results for the quarter and first six months of the year. Our operations performed well and in line with plan while several important milestones were achieved at Cobre Panama.”
Listed under operational highlights, the company’s report said that in the June quarter it produce 150,950 tonnes of copper, up 6.36 percent year-on-year. The company also terminated a framework agreement with Northern Dynasty Minerals (TSX:NDM) over the Pebble project is Alaska during the quarter.
Click here to read the full First Quantum Minerals (TSX:FM) press release.
