FIRST QUANTUM MINERALS LTD

Overview

First Quantum Minerals Ltd. is a global mining company focused primarily on producing copper, with additional production of nickel and gold and activities in mineral exploration and project development. Copper is its largest business, accounting for US$4.293 billion of the company’s US$5.237 billion in sales revenue in 2025.[1][2]

The company’s operating mines span Zambia, Türkiye and Mauritania, with its Zambian Kansanshi and Trident operations central to its business. It is also developing the Taca Taca copper-gold-molybdenum project in Argentina and exploring copper deposits in Peru.[1]+2 First Quantum describes its global presence as spanning five continents and reported approximately 14,500 employees based on 2025 figures.[5]

The company states its purpose is “to work responsibly to provide metals that build the modern world,” while seeking positive local and global environmental impact.[6] [1]+5

Products & services

First Quantum Minerals’ principal products are copper—sold as concentrate, anode and cathode—and nickel and gold. Its operations also produce zinc, silver, cobalt, acid and pyrite, while magnetite is reported among products sold at Guelb Moghrein. These include saleable metals and processing by-products; no distinct customer service offering is identified.[7][8]

Product forms vary by operation: Kansanshi sells copper cathode and anode as well as gold; Trident sells copper anode, copper concentrate and nickel; and other operations report products including copper, gold, magnetite, zinc, pyrite and silver. As operating indicators rather than full commercial specifications, Sentinel’s copper concentrate grade was 24.5% in Q1 2026, while Enterprise’s nickel recovery was 85%; Kansanshi’s smelter capacity is 1.6 million tonnes per year.[9][10]

Copper accounted for approximately 78.6% of Q1 2026 reported commodity-category revenue, gold 10.6%, nickel 9.8% and “other” 1.0%. For FY2025, the corresponding shares were approximately 82.0%, 10.5%, 4.8% and 2.8%. Percentages are calculated from reported revenue; the company does not further allocate the “other” category among individual products.[9][11] [7]+4

Geographic presence

As of the Q2 2026 reporting update, First Quantum’s producing mines were in Zambia (Kansanshi and the Trident complex, including Sentinel and Enterprise) and Mauritania (Guelb Moghrein). Cobre Panamá in Panama was in preservation and safe management, while Ravensthorpe in Australia was in care and maintenance. Çayeli in Türkiye and Cobre Las Cruces in Spain were sold during Q2 2026.[1]+3

The company’s development and exploration footprint includes Taca Taca in Salta Province, Argentina; La Granja in Cajamarca, Peru; and Haquira in Apurímac, Peru. It also reports brownfields exploration near Sentinel in Zambia.[14]+3

The head office is in Toronto and the registered and records office is in Vancouver, Canada. First Quantum reports approximately 14,500 employees worldwide, with more than 95% nationals of the countries where it operates; its Kansanshi operation in Zambia employs more than 13,000 people, primarily Zambians.[17]+4 [1]+11

Business segments

First Quantum Minerals reports three operating segments—Cobre Panamá, Kansanshi and Trident—and presents Corporate & other separately, aggregating its remaining operations and corporate functions. The same segmentation was used in its Q1 2026 reporting.[19]+3

In FY2025, the segments contributed approximately 6% of consolidated revenue for Cobre Panamá ($328 million), 45% for Kansanshi ($2,375 million), 40% for Trident ($2,089 million) and 9% for Corporate & other ($445 million). Cobre Panamá is a copper operation that also reports gold and silver sales; Kansanshi produces copper and gold; and Trident comprises the Sentinel copper mine and Enterprise nickel mine.[23]+2 Corporate & other includes other mine operations, third-party metal marketing and exploration, as well as property evaluation, treasury, finance and corporate administration.[20] [19]+9

Company history

First Quantum Minerals was co-founded by Philip Pascall in 1996, the year the company acquired the Bwana Mkubwa project in Zambia.[26][5] In 2001 it acquired an 80% interest in the Kansanshi project, which began commercial production in April 2005; it also acquired an 80% interest in Mauritania’s Guelb Moghrein mine in 2004.[5][27]

The company expanded through acquisitions, including Adastra in 2006, which brought a 65% interest in the Kolwezi copper-cobalt project in the Democratic Republic of the Congo, and Kiwara in 2010, which brought the Trident licence and the project that became Sentinel.[5] First Quantum acquired Inmet Mining in 2013, including an 80% interest in the Cobre Panamá project.[5][28] Sentinel was commissioned in 2017, and first ore was processed at Cobre Panamá in 2019.[29][5]

Tristan Pascall became chief executive officer in 2022, succeeding Philip Pascall, who had led the company as CEO since 1996.[30] Cobre Panamá entered Preservation and Safe Management in November 2023.[1] [26]+11

Sources

• FIRST QUANTUM MINERALS LTD — Full financial report (2025 Y)
  13 citations

  [1][2][13][14][15][16][17][18][19][20][23][24][25]
• FIRST QUANTUM MINERALS LTD — Presentation (2026 Q 1)[3][4]
• www.first-quantum.com[5]
• www.first-quantum.com[6]
• www.first-quantum.com[7]
• www.first-quantum.com[8]
• www.first-quantum.com[9]
• www.first-quantum.com[10]
• www.first-quantum.com[11]
• www.first-quantum.com[12]
• FIRST QUANTUM MINERALS LTD — Partial financial report (2026 Q 1)[21][22]
• www.first-quantum.com[26]
• www.first-quantum.com[27]
• www.first-quantum.com[28]
• FIRST QUANTUM MINERALS LTD — Full financial report (2021 Y)[29]
• www.first-quantum.com[30]