First Quantum reports progress at Panama copper mine, posts profit
The Toronto-based miner posted $18 million in net earnings attributable to shareholders during the second-quarter, reversing a year-earlier loss of $46 million.
That amounted to diluted net earnings of two cents per share compared to a loss of six cents per share a year earlier.
Sales revenues were $1.23 billion during the three months ended June 30, about the same as the same quarter a year earlier.
First Quantum suspended production at the Cobre Panama mine in November 2023 following widespread protests and a court ruling that found the agreement with the government covering the mine was unconstitutional.
In May, the Panamanian government approved a 'preservation and safe management plan' for the open-pit mine and last month, the company began exporting copper concentrate that had been on site since the mine's closure.
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This report by The Canadian Press was first published July 23, 2025.
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