First Quantum expects to spend $6.4B on Cobre Panama project

|About: First Quantum Minerals Ltd. (FQVLF)|By:, SA News Editor

First Quantum Minerals (FQVLF) says it expects to incur $6.4B in development costs for its Cobre Panama copper project in Central America, unveiling its revised capital cost estimate for its key project after a month's delay.

The figure is ~3% higher than estimates released before First Quantum took over the project last year.

Production is now pegged at ~320K metric tons/year of copper, up ~20% from original plans, and completion is now seen in H2 2017 instead of H1 2016.