First Quantum Minerals (OTC) (TSE:FM) has released an update.
First Quantum Minerals Ltd. reported a net loss of $159 million in the first quarter of 2024, citing challenges such as a National Emergency in Zambia due to drought and disruptions at the Cobre Panamá mine. Despite these setbacks, the company completed significant refinancing to strengthen its balance sheet and is taking steps to ensure a stable power supply for its Zambian operations. These strategic moves are expected to mitigate further operational disruptions and bolster the company’s financial position.
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