First Quantum Minerals announced on Tuesday that it has achieved its highest ever annual copper production of 779,000 tonnes, an increase of 11% from 2019.
The mining company reported record production in Sentinel, Zambia, despite the Covid-19 pandemic, and said its other businesses were performing well, particularly in Cobre Panama.
Copper production in the fourth quarter of 2020 was 203kt, the same as in the fourth quarter of 2019.
Sentinel produced a record 251,000 tonnes of copper for the full year, an increase of 31,000 tonnes from 2019.
The company said copper production in the fourth quarter of 2020 was 63,000 tons, up 24 percent from the fourth quarter of 2019, thanks to continued higher production and favorable grades.
Cobre's Panama copper production in the fourth quarter of 2020 was 66kt, up 6kt from the fourth quarter of 2019.
Zambian Kansas copper and gold production in Q4 2020 was 53kt, down 8kt from Q4 2019 due to lower grade and oxide recovery rates.
First Quantum reports that capex for 2020 is approximately $50 million below its previously issued guidance of $675 million.
In 2021 and 2022, the company expects capital expenditures of $950 million, including $40 million per annum for Kansas Smelter expansion.
In 2021 and 2022, First Quantum also includes a total of approximately $100 million of capital expenditures deferred from 2020.
In 2023, capital expenditures are projected to be $1.05 billion, including $270 million for the Kansas expansion project.
First Quantum expects copper production in 2021 to be between 785-850 tonnes.
PUDA copper concentrate packaging machine:
Standard Features
Weighing, filling, packing, sawing or heat sealing in one operation.
English and Chinese screen display, operation is simple.
PLC computer system, function is more stable, adjustment any parameters not need stop machine.
Double sever motors drawing film position accurately and the speed more fast.
Temperature independent control system precision get to ± 1°C.
Horizontal, vertical temperature control, suitable for various of mix film, PE film packing material.
Packing type diversification, pillow sealing, standing type, punching etc.
Working quietly, low noise.
