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First Quantum achieves record copper sales, production in 2018

TSX-listed copper miner First Quantum has announced record production and sales for 2018, with copper output rising by 6% and sales by 3%.

Total copper production amounted to 605 853 t, compared with 573 963 t in 2017. The company sold 596 513 t in 2018, compared with 580 130 t the year prior.

Total gold production fell from 199 736 oz in 2017, to 185 414 oz last year. Gold sales also dipped from 201 376 oz in 2017, to 193 072 oz in 2018

Kansanshi, in Zambia, increased copper production from 250 801 t in 2017, to 251 552 in 2018. Its gold production dropped from 140 595 oz in 2017, to 130 019 oz last year.

The other Zambian mine, Sentinel , also increased production from 190 683 t in 2017 to 223 656 t.

The Mauritanian operation’s production dipped marginally, producing 28 137 t of copper (28 791 t in 2017) and 45 974 oz of gold (49 213 oz in 2017), while Turkey-based Çayeli improved year-on-year producing 19 896 t of copper (compared with 16 523 t) and 4 091 t of zinc (compared with 3 326 t).

Finland-based Pyhäsalmi saw a declines in copper production, from 13 501 t in 2017 to 11 904 t, and sales fell from 13 691 t, from 12 184 t, as well as its pyrite production decreased from 692 124 t to 645 885 t.

Pyrite sales marginally increased to 418 931 t, from 418 743 t in 2017, while zinc production and sales increased significantly to 22 716 t and 21 799 t, respectively, from the previous year’s 17 397 t and 17 416 t

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