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The output of the first Quantum: Cobre Panama Mine is expected to decline in recent years to maintain the annual production target.
Sep 17,2020 10:09CST
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Source:SMM compilation
The content below was translated by Tencent automatically for reference.

SMM9, March 17: first Quantum (First Quantum Minerals) said on Wednesday that its business is no longer expected to be disturbed by the epidemic, given that protective measures have been put in place.

The, Cobre Panama mine affected by the outbreak was closed in early April and there has been no confirmed case of novel coronavirus in the mine since May. After that, it resumed normal operation in early July and achieved full capacity operation ahead of schedule in August.

Currently, the company aims to maintain Cobre Panama's raw ore production of 85 million tons per year for the rest of the year, but the decline in production at the Cobre Panama mine in 2020 is expected to fall short of the current target of 18-200000 tons of copper and 10-80, 000 ounces of gold.

Despite a decline in ore grade and recovery, Zambia's Kansanshi copper and gold mine is committed to maintaining production. According to the latest technical report released by first Quantum, the reserves and resources of the mine have increased by 70% and 40% respectively, and the life of the mine has been extended to 24 years.

So far, the Sentinel mine has exceeded expectations in the current quarter, with copper production reaching 23000 tons in July and 25000 tons in August.

Overall, first Quantum still plans to produce 72.5-770000 tons of copper, 23-250000 ounces of gold and 1.5-17000 tons of nickel this year.

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