In the 3-month-length that ended 31 December 2023, the organization’s EBITDA (income before hobby, taxes, depreciation and amortization) stood at $273m, marking a fifty seven.Eight% slump from $647m in Q4 2022.
The miner’s net debt improved to $6.42bn at the cease of December 2023, largely due to a one-time payment of $567m to the Government of Panama for taxes and royalties.
Related news
- Premier African Mineral Seeks U.S.$3,1m to Commence Operations
- Zimbabwe: Zida Gets U.S.$7 Billion Mining Investment Deal
- US DOE to invest $17m for REE extraction from coal
- Africa Finance Corporation (AFC) unveils strategic partnerships to boost Africa’s mining sector
- EIB in talks with South Africa over loan for ports, freight rail
First Quantum’s performance this zone was considerably laid low with manufacturing suspension at the Cobre Panamá mine at the stop of November 2023, while the mine entered renovation and secure preservation (P&SM).
Additionally, almost 121,000 dry tonnes of copper listen from Cobre Panamá remained unsold because of disruptions on the Punta Rincón port.
An impairment rate of $900m turned into recognized, which incorporates $854m at Ravensthorpe due to margin stress from susceptible nickel expenses, decrease payabilities and excessive working costs.
