First Quantum Reports Record Quarterly Copper Sales
In July, the company’s Zambian operations were advised by the state-run power company of its plans to reduce power supply to the Kansanshi complex and Sentinel for about a 31-day period, beginning late July, to facilitate maintenance and upgrades to the electricity network. First Quantum said it had plans in place at both sites to optimally manage operations during this period.
“Our operations performed well and in line with plan while several important milestones were achieved at Cobre Panama,” said Philip Pascall, chairman and CEO, First Quantum. “The start of power supply into the national grid from the first of two generating sets at the power station is significant as it will eventually provide the requirements for that entire operation.”
The company also elected, with Northern Dynasty Minerals, to terminate the framework agreement announced during December, in accordance with its terms after being unable to reach agreement on the contemplated option and partnership transaction on the Pebble project.