At a glance

Kansanshi

The Kansanshi S3 Expansion project reached the final stages of commissioning during the second quarter, ahead of schedule, was officially inaugurated by Zambian President, Hakainde Hichilema in August 2025.

Once completed, it will transition the Kansanshi Mine from a more selective high-grade medium-scale operation to a medium-grade, much larger scale mining operation with increasing annual throughput.

Commercial production at Enterprise Mine

After two years of commissioning, the largest nickel mine in Africa delivered commercial production ahead of schedule on June 1, 2024.

Acquisition of La Granja Project

In August 2023, for US$105 million, First Quantum acquired a 55% interest in La Granja, Peru. La Granja is one of the largest undeveloped copper resources. First Quantum will work as operator, in partnership with Rio Tinto.

Cobre Panamá

Cobre Panamá achieved record copper production of 350kt for the full year, an increase of 6% from 2021.

First Quantum Filed NI 43-101 for Taca Taca and Declared Maiden Mineral Reserve of Over 7.7 Million Tonnes of Contained Copper.

Ravensthorpe

After significant investment and upgrades, First Quantum’s world-class laterite nickel operation in Western Australia – Ravensthorpe Nickel Operation (“RNO”) – re-started in January 2020 with the first MHP shipment departing Esperance Port just four months later.

Cobre Panamá

First ore processed at Cobre Panamá.

Cobre Panamá processed its first ore in early February, fifty years after the deposit was discovered, but only six years since First Quantum took it over.

Cobre Panamá

Construction completed of Cobre Panamá Power Station.

The 300MW power plant generated power at its nameplate capacity and started supplying power into the national grid.

Sentinel

Commercial production at Sentinel Mine.

For a total capex of US$2.1 billion, and after a year of staged commissioning, Sentinel was declared in commercial production on November 1, 2016.

Kansanshi smelter

Commissioned Kansanshi smelter.

The Kansanshi smelter achieved commercial production in July, 2015. It was built in two years for a capital cost of US$900m, and brought up to production in an unprecedented 5 months.

Taca Taca

Acquisition of Taca Taca.

In August 2014, First Quantum acquired Lumina Copper Corporation and its primary asset, the Taca Taca project in Argentina, for approximately CAD$470m. Taca Taca is a copper-gold-molybdenum porphyry deposit in an advanced exploration phase.

Cobre Panamá

Acquisition of INMET.

Acquired INMET for CAD$5.1 billion, including its 80% stake in the Cobre Panamá project, at the time one of the world’s largest undeveloped copper deposits.

Kansanshi

First oxide circuit expansion completed at Kansanshi.

Expansion of Kansanshi’s oxide circuit by 20% to 72 mtpa throughput using equipment from the redundant Bwana Mkubwa copper SX-EW plant.

Trident/Sentinel

Acquisition of Trident/Sentinel.

In January 2010, First Quantum acquired 100% of Kiwara PLC, with a controlling interest in the Trident prospecting license in Zambia which includes the Sentinel copper project and the Enterprise nickel project, for approximately US$260m.

Kolwezi

Work halted at the Kolwezi tailings project.

First Quantum’s legal title to the Kolwezi project tailings permit was terminated by the DRC Government in September 2009. The project infrastructure was about 75% complete and capex about US$350 million.

Kansanshi

Expansion project (“S2”) completed at Kansanshi.

Second sulphide milling circuit (“S2”) and fourth SX-EW facility commissioned.

Frontier

Commercial production at Frontier.

Sean Whittome, General Manager: “Frontier … took just 15 months to build and about five weeks to get to commercial production. And after a further three weeks, we were at full production. So within two months of starting it, it was at full production.”

Kolwezi

Acquisition of Kolwezi tailings project.

On 1 May 2006, First Quantum acquired Adastra for US$273 million and with it, a 65% interest in the Kolwezi copper-cobalt oxide tailings dams in the Democratic Republic of Congo.

Kansanshi

Commercial production at Kansanshi.

Commercial production at Kansanshi was achieved in April 2005, just 19 months after construction commenced. Capital additions increased the original nameplate capacity, and by early 2006 Kansanshi was treating 8 mtpa of sulphide ore and 4 mtpa of oxide ore – and had invested a total of approximately US$341m.

Guelb Moghrein

Acquisition of Guelb Moghrein.

First Quantum acquired the Guelb Moghrein copper-gold project in Mauritania for US$10 million in April 2004.

Frontier

Greenfields discovery.

First Quantum’s discovery of the Frontier deposit in the Democratic Republic of Congo was the result of generative exploration, found using grid soil sampling in an area of scattered, old surface workings.

Kansanshi

Acquisition of Kansanshi.

First Quantum acquired Phelps Dodge’s 80% interest in the Kansanshi copper-gold project in Zambia for US$2.5 million cash and 1.4 million shares.

Lonshi

Greenfields discovery.

The Lonshi copper deposit in the Democratic Republic of Congo was discovered by First Quantum geologists targeting occurences known from archives from the 1920s and 30s.

Bwana Mkubwa

Completed Bwana Mkubwa processing facility.

Completed construction of the Bwana Mkubwa tailings recovery, SX-EW and sulphuric acid plant. The facility was completed just 16 months after First Quantum acquired the project, for capex of US$32 million.

Bwana Mkubwa

Acquired the Bwana Mkubwa mining project.

Bwana Mkubwa in Ndola was the first new mining project in Zambia for 35 years and the first licence to be issued by the Government of Zambia since the enactment of the 1995 Mining and Minerals Act.