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Copper companies - reported results analysis
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Report summary
Freeport-McMoRan, Southern Copper Corporation, First Quantum Minerals and Teck Resources released their Q3 2024 financial and operational results. All four companies increased copper production. High gold prices, slowing inflation and operational improvements helped reduce cash costs for most companies, while Teck faced the impact of Quebrada Blanca (QB) on its costs due to the ongoing ramp-up at the mine. The companies narrowed their full-year guidance, providing more clarity on the annual performance in 2024. In the conference calls after releasing their results, all four companies emphasised prioritising greenfield project development over growth through acquisitions.
Table of contents
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Summary
- Freeport-McMoRan
- First Quantum Minerals
- Southern Copper
- Teck Resources
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