First Quantum posts net earnings of $113M in Q3, notes broad cost inflation and recessionary concerns

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copper gold First Quantum posts net earnings of $113M in Q3, notes broad cost inflation and recessionary concerns

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In Q3 2022, the company also produced 67,417 ounces of gold, down from the 74,959 ounces in Q2 2022 and 5,849 tonnes of nickel, up from the 4,853 tonnes in Q2 2022 . The company’s copper cash cost averaged $1.82 per lb in Q3 2022, up from $1.74 per lb in Q2 2022 as a result of broad cost inflation that was partially mitigated by an improvement in production volumes. Copper AISC cost averaged $2.34 per lb in Q3 2022, down from $2.37 per lb in Q2 2022.

First Quantum also noted that its financial results for the third quarter include net earnings attributable to shareholders of the company of $113 million and adjusted earnings of $96 million , a decrease from Q2 2022 which had net earnings attributable to shareholders of the company of $419 million and adjusted earnings of $337 million .

 

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