First Quantum reports $48M net loss in Q3 amid continued progress at Panama mine

TORONTO — First Quantum Minerals Ltd. has reported a net loss attributable to shareholders of $48 million during the third quarter, a reversal from a $108-million profit during the same period last year.

On a per-share basis, the loss amounted to six cents compared with a gain of 13 cents a year earlier.

The Toronto-based miner reported sales revenue of $1.35 billion during its latest quarter, rising from $1.28 billion during the same period of 2024.

First Quantum says copper production for the third quarter amounted to 104,626 tonnes, a 15 per cent increase from the second quarter.

In July, the company announced that shipments of copper concentrate had begun leaving a contentious mine in Panama that had been shuttered, which boosted its second-quarter results.

First Quantum Minerals CEO Tristan Pascall says in a press release that remaining concentrate shipments were completed safely during the latest quarter and that the company is focused on reaching a constructive resolution for the mine.

This report by The Canadian Press was first published Oct. 28, 2025.

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The Canadian Press