Advertisement
Canada markets closed

  • S&P/TSX

    21,947.41
    +124.21 (+0.57%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +449.98 (+1.18%)
     

  • CAD/USD

    0.7301
    -0.0007 (-0.10%)
     

  • CRUDE OIL

    78.22
    +0.11 (+0.14%)
     

  • Bitcoin CAD

    88,061.53
    +366.15 (+0.42%)
     

  • CMC Crypto 200

    1,332.67
    +55.69 (+4.36%)
     

  • GOLD FUTURES

    2,302.50
    -6.10 (-0.26%)
     

  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     

  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     

  • NASDAQ futures

    18,006.75
    +6.00 (+0.03%)
     

  • VOLATILITY

    13.49
    -1.19 (-8.11%)
     

  • FTSE

    8,213.49
    +41.34 (+0.51%)
     

  • NIKKEI 225

    38,236.07
    -38.03 (-0.10%)
     

  • CAD/EUR

    0.6783
    -0.0004 (-0.06%)
     

First Quantum Minerals cuts debt by over $1 bln in first quarter

Reuters
·1 min read

April 23 (Reuters) - Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.

The company in February had announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on its "operational objectives."

The company's total debt as of March 31 stands at $5.99 billion, down from its previous debt of $7.38 billion.

The copper miner reported a net loss attributable to shareholders of the company at $159 million for the quarter ended March. 31, as the company continues to be impacted by Cobre Panama mine closure. It had posted a profit of $75 million in the year-ago quarter.

The Cobre Panama project, one of the world's largest open-pit copper mines, was forced to shut down after Panama's top court ruled that its contract was unconstitutional. (Reporting by Tanay Dhumal in Bengaluru; Editing by Shailesh Kuber)