Increased Copper Production
Total copper production was 105,000 tonnes, a 15% increase over the second quarter, with Sentinel and Kansanshi reporting higher production. Year-to-date, 295,000 tonnes of copper have been produced, on track to meet the 2025 guidance range of 390,000 to 410,000 tonnes.
Successful Kansanshi S3 Expansion
The Kansanshi S3 expansion project was completed and handed over to operations, exceeding expectations for ramp-up and achieving first production in August. The smelter expansion works are complete, and ongoing project capital works are expected to be completed in Q2 2026.
Strong Financial Position
First Quantum completed a $1 billion gold stream agreement with Royal Gold and issued $1 billion in senior unsecured notes, extending bond maturity to 2029. Liquidity improved to $2.3 billion at quarter-end, with $960 million in cash and a fully undrawn revolver of $1.3 billion.
Çayeli Mine Life Extension
The life of the Çayeli mine in Turkey has been extended to 2036, with over 3 years without a lost time injury, demonstrating commitment to safety and sustainability.
Increased Nickel Production
Enterprise reported a 44% quarter-over-quarter improvement in nickel production, reaching nearly 6,000 tonnes during the third quarter.