Canada-based First Quantum Minerals posted a drop in second-quarter copper and nickel production because of lower feed grades for copper and decreased throughput for nickel.
The miner's copper production in the second quarter decreased to 91,069 metric tonnes (t), down by 11pc from the same quarter last year.
Nickel production fell by 46pc from a year earlier to 4,018t because of lower throughput, according to the company.
The company maintained its copper and nickel production guidance for 2025 at 380,000-440,000t for copper and 15,000-25,000t for nickel.
First Quantum's Kansanshi project expansion in Zambia is in its final stages of commissioning, ahead of schedule. The company expects first copper production from the expansion later this year.
Copper sales in the second quarter increased on the year by 7pc to 101,173t, while nickel sales decreased by 17pc to 6,383t in the same time period.
First Quantum recently started shipping copper concentrate from its shuttered Cobre Panamá mine in Panama after receiving government approval to resume shipments.
The company does not expect the proposed US copper tariffs to affect sales since the company does not have any copper sales to the US.
First Quantum reported an $18mn profit in the second quarter compared to a $46mn loss a year earlier as revenue decreased by less than 1pc to 1.2bn.
