- First Quantum Minerals (OTCPK:FQVLF +7.3%) jumps to a YTD high after saying it expects no further disruptions related to COVID-19, as precautionary measures have been placed into practice at all its operations.
- The Cobre Panama mine, which was ordered shut in early April, has experienced no onsite COVID cases since May; operations resumed in July and full production was achieved slightly ahead of expectations in mid-August.
- First Quantum says its focus is now on maintaining the 85M metric tons/year throughput rate for the rest of the year, and it expects 2020 production will be well within existing guidance of 180K-200K mt of copper and 70K-80K oz. of gold.
- Overall, the miner reiterates full-year production guidance of 725K-770K mt of copper, 230K-250K oz. of gold and 15K-17K mt of nickel.
- First Quantum said earlier this week that it plans to expand operations at the Kansanshi mine in Zambia, Africa's biggest copper mine.