First Quantum Minerals Ltd. (TSX:FM)Mining
First Quantum Minerals Ltd is a mining company and engages in mineral exploration, mine engineering, construction and development and mining operations.
The firm produces copper anode, copper in concentrate, nickel, zinc, copper cathode, silver, acid and pyrite.
The company’s mines are located in Spain, Turkey, Finland, Mauritania and Zambia.
In 1996, First Quantum Minerals Ltd acquired its first mining project, Bwana Mkubwa, in Zambia for an estimated $32 million.
The company claims that its team of geologists discovered the Lonshi copper deposit in the Democratic Republic of Congo.
In 2000, the mining firm acquired 80 per cent interest from Phelps Dodge in the Kansanshi copper-gold project for 1.4 million shares and $2.5 million cash.
First Quantum claims that it discovered the Frontier deposit in the Democratic Republic of Congo in 2003 using generative exploration and grid soil sampling.
The company acquired Guelb Moghrein, a gold and copper project in Mauritania, in April 2004, followed by commencing of commercial operations at the Kansanshi project in 2005.
By early 2006, the company claims Kansanshi’s project treated nearly eight million tonnes per annum (mtpa) of sulphide ore and four mtpa of oxide ore.
Another expansion project was completed at Kansashi in 2008.
In January 2010, the company acquired Kiwara PLC in Zambia and BHP’s Ravensthorpe Nickel Operation in Western Australia.
In addition, First Quantum secured Haquira copper deposits in southern Peru by acquiring a 100 per cent stake in Antares Minerals.
However, its operations in Frontier and Lonshi were banned by the Congolese government in 2010.
By 2014, the company had expanded second oxide circuit expansion at the Kansanshi unit.
The company sold its Kevitsa assets for an estimated $ 712 million to Boliden in June 2016.
Cobre Panama, located in Colon Province, Panama City, include two open-pit mines, two power generation plants, a processing plant and a port.
The company regularly posts production statistics and technical reports, financial statements on the official website.
Suite 2600, Three Bentall Centre P.O. Box 49314 595 Burrard Street Vancouver, BC Canada V7X 1L3
1 416 361 6400