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Company News

First Quantum quarterly profit falls on lower copper prices

Feb 13 (Reuters) - Canada’s First Quantum Minerals Ltd reported an 80.8% fall in quarterly comparable profit, hurt by lower copper prices and a rise in the miner’s costs as it ramped-up the Cobre Panama copper mine.

Comparative earnings for the fourth quarter ended Dec. 31 fell to $35 million, or 5 cents per share, from $182 million, or 26 cents per share, a year earlier.

First Quantum’s total copper production rose 29% to 204,270 tonnes. (Reporting by Jeff Lewis & Arundhati Sarkar in Bengaluru; Editing by Vinay Dwivedi)

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