FIRST QUANTUM MINERALS LTD

Overview

First Quantum Minerals Ltd. is a global mining company focused on copper. It develops and operates mines and mineral-processing facilities, with copper as its principal product and nickel, gold, zinc and cobalt also in its commodity portfolio. The company traces its origins to a Zambian mining licence acquired in 1996.[1][2]

Its producing mines are principally in Zambia, Mauritania and Türkiye; it also has significant assets in Panama and Australia that are not currently producing. First Quantum states its purpose as working responsibly to provide metals that build the modern world. It reported US$5.24 billion in 2025 sales revenue, and its corporate profile describes a workforce of approximately 14,500 people worldwide.[3]+2 [5]+5

Products & services

First Quantum Minerals’ principal product is copper, sold in forms including copper concentrate, copper anode and copper cathode. Its Kansanshi smelter processes copper concentrate into anode and also produces sulphuric acid. The company also sells gold and nickel, with other mine-level product lines including silver, zinc, pyrite, magnetite and cobalt.[7][8]

Copper accounted for US$4.015 billion, or approximately 84%, of the company’s US$4.802 billion in 2024 sales revenue. Gold contributed US$347 million (about 7%), nickel US$335 million (about 7%), and other products US$105 million (about 2%). These figures describe commodity revenue rather than the sales mix of individual copper forms.[9] [7]+2

Geographic presence

First Quantum Minerals’ producing mines are concentrated in Zambia, Mauritania and Türkiye. In Zambia, Kansanshi and Sentinel are in North-Western Province; Guelb Moghrein is in Mauritania, and Çayeli is in Türkiye. Cobre Panamá in Panama is not producing and is under preservation and safe management, while Ravensthorpe in Western Australia is in care and maintenance. The company also has development interests in Peru, including La Granja and Haquira, and in Argentina through Taca Taca.[10]+8

Customer sales are geographically different from the mine footprint. In 2025, sales by destination were US$4.35 billion to Asia and Oceania, US$698 million to Europe and US$222 million to Africa; the company does not provide a country-level customer-sales split in this breakdown. Its head office is in Toronto, its registered office is in Vancouver, and it has corporate offices in London and West Perth.[18]+4 [10]+16

Business segments

First Quantum Minerals reports three mine-related operating segments: Cobre Panamá, Kansanshi and Trident. Based on 2025 revenue, Kansanshi accounted for approximately 45% of consolidated sales; it is a copper and gold operation in Zambia. Trident contributed approximately 40% and comprises Zambia’s Sentinel copper mine and Enterprise nickel mine. Cobre Panamá contributed approximately 6%; the Panamanian copper operation was under preservation and safe management, and its 2025 revenue came principally from sales of stored copper concentrate.[24]+7

The remaining approximately 9% of 2025 revenue was reported as Corporate & other. This segment groups Guelb Moghrein, Las Cruces, Çayeli, Pyhäsalmi and Ravensthorpe with third-party metal marketing, exploration and corporate activities; their revenues are not reported individually in the segment breakdown. Across all segments, copper generated approximately 82% of 2025 revenue, gold 10%, nickel 5% and other products 3%.[30][29] [24]+17

Company history

First Quantum Minerals was co-founded in 1996 by Philip Pascall, Martin Rowley and Clive Newall. Its early growth began in Zambia with the Bwana Mkubwa tailings-reprocessing operation; Kansanshi, also in Zambia, became a major producing mine in 2005.[32]+2

The company expanded beyond Zambia, including the acquisition of Australia’s Ravensthorpe nickel operation in 2010. Its 2013 acquisition of Inmet Mining brought the Cobre Panamá copper project into its portfolio. First Quantum declared commercial production at its Sentinel mine in Zambia in 2016 and at Cobre Panamá in 2019. Production at Cobre Panamá was suspended in late 2023.[35]+4 [39]+7

Sources

• www.first-quantum.com[1]
• www.first-quantum.com[2]
• www.first-quantum.com[3]
• www.first-quantum.com[4]
• FIRST QUANTUM MINERALS LTD — Full financial report (2025 Y)
  23 citations

  [5][6][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][30][31]
• FIRST QUANTUM MINERALS LTD — Full financial report (2024 Y)
  4 citations

  [7][8][9][39]
• first-quantum.com[29]
• www.first-quantum.com[32]
• www.first-quantum.com[33]
• www.first-quantum.com[34]
• www.first-quantum.com[35]
• www.first-quantum.com[36]
• www.first-quantum.com[37]
• www.first-quantum.com[38]