Streetbeat News

FQVLF

First Quantum Minerals Ltd.

https://www.first-quantum.com/

CEO

Philip Pascall

Industry

Copper Rolling, Drawing, Extruding, and Alloying

Open

14.25

Mkt cap

11B

Volume

4.8K

High

14.34

P/E Ratio

-6.16

52-wk high

15.20

Low

13.39

Div yield

N/A

52-wk low

6.92

First Quantum Minerals (OTCPK: FQVLF) is permanently closing its Ravensthorpe nickel mine in Western Australia, leading to the loss of 330 jobs. The decision comes after months of production suspension and is attributed to ongoing financial losses and the expectation of lower nickel prices. Nickel prices have significantly dropped, influenced by increased production in Indonesia. The closure reflects broader challenges in the nickel mining sector, with BHP's (NYSE:BHP) Nickel West operation also identified as under pressure. The impact of this closure is seen as a negative development for the local community and the nickel mining industry in Western Australia.

Portfolio Pulse from Stjepan Kalinic

April 29, 2024 | 6:54 pm

American Battery Technology (ABAT) has initiated its lithium hydroxide pilot plant in Reno, Nevada, to produce battery-grade lithium hydroxide from unconventional sources, supported by a $4.5 million U.S. Department of Energy grant. ArcelorMittal Calvert (AMSYF) plans to construct a facility in Alabama for producing non-grain-oriented electrical steel, backed by $280.5 million in investment tax credits. Gold Royalty (GROY) reported a significant increase in revenue and gold equivalent ounces for Q1, projecting higher revenues for 2024. Saudi Arabia's Manara Minerals (FQVLF) is nearing a deal to acquire a minority stake in Pakistan's Reko Diq mine, a project 50% owned by Barrick Gold (GOLD).

Portfolio Pulse from austin@walkonholdings.com

April 22, 2024 | 9:01 pm

Saudi Arabia's Manara Minerals is in advanced talks to acquire a minority stake in the Reko Diq gold and copper mine project in Pakistan, currently co-owned by Barrick Gold Corp and the Pakistani government. The project, set to start production by 2028, could see Saudi Arabia taking over Pakistan's stake. Manara Minerals, a collaboration between the Saudi Public Investment Fund and Ma'aden, focuses on commodities investments and already holds a 13% stake in Vale's base metals business.

Portfolio Pulse from Stjepan Kalinic

April 19, 2024 | 3:14 pm

Rio Tinto (NYSE:RIO) and Saudi Arabia's Manara Minerals Investment are reportedly interested in acquiring First Quantum Minerals' (OTCPK: FQVLF) Zambian assets, including the Sentinel and Kansanshi mines valued at $6 billion. These mines are significant for First Quantum, accounting for about half of its copper output and revenue last year. The sale is part of First Quantum's restructuring efforts, which also include cost-cutting and raising capital through stock sales and note offerings. Zambia's mining sector, crucial for these operations, faces challenges such as energy supply issues, declining ore grades, and fiscal policies.

Portfolio Pulse from Stjepan Kalinic

April 18, 2024 | 3:39 pm

Zambia aims to increase its copper production to 1 million tons by 2026, leveraging the revival of Konkola Copper Mines and investments in existing mines like First Quantum Minerals' Kansanshi and Barrick's Lumwana. The emergence of KoBold Metals' AI-powered Mingomba project, potentially one of the world's largest mines, further boosts this goal. Despite facing debt restructuring challenges, Zambia remains optimistic about reaching its copper production targets.

Portfolio Pulse from Stjepan Kalinic

April 05, 2024 | 6:28 pm

Copper prices have been rising, signaling optimism about the global economy, particularly with expectations of China's economic recovery. Supply disruptions and lower mine output have contributed to the price increase, with futures hitting an 11-month high. Companies like First Quantum Minerals, Anglo American, Teck Resources, and Southern Copper Corp. have reduced production outlooks. Analysts predict copper prices could reach $10,000 per metric ton by year-end, benefiting miners like Freeport-McMoRan Inc. and ETFs focused on copper mining.

Portfolio Pulse from Matt Whittaker

April 04, 2024 | 12:57 pm

Patricia Mohr, a commodities expert, predicts a surge in prices for copper, uranium, and lithium due to the green energy transition. Copper and uranium are seen as critical for decarbonization and clean energy, respectively, with copper facing operational challenges and uranium prices already on the rise. Lithium prices have fallen but are expected to recover as electric vehicle demand increases. The United States Copper Index Fund (CPER), Global X Copper Miners ETF (COPX), and Global X Uranium ETF (URA) are highlighted as related investment assets.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 5:02 pm

Raymond James analyst Farooq Hamed maintains a Market Perform rating on First Quantum Minerals (FQVLF) and raises the price target from $13 to $16.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:04 pm

First Quantum Minerals is considering selling a minority stake in its Zambian copper operations, including the Sentinel and Kansanshi mines, amid efforts to consolidate its portfolio and focus on reopening its key asset in Panama. The company has signed non-disclosure agreements with several interested parties for due diligence. Despite previous rumors of selling these assets to Jiangxi Copper, First Quantum remains committed to its Zambian operations and has raised around $1 billion to reduce debt and improve liquidity.

Portfolio Pulse from Stjepan Kalinic

March 05, 2024 | 2:23 pm

Ferroglobe PLC (GSM) and LONGi have entered a silicon supply agreement effective Jan. 1, 2024. MP Materials Corp. (MP) plans a $500 million Convertible Senior Notes offering. Cleveland-Cliffs Inc. (CLF) announced a $750 million senior unsecured guaranteed notes offering. BHP Group Limited (BHP) signed non-binding agreements for potash production at its Jansen mine. Newmont Corporation (NEM) initiated a private offering of notes due in 2026 and 2034 to repay borrowings.

Portfolio Pulse from Austin DeNoce

March 04, 2024 | 10:53 pm

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