Geomechanics.io

  • Free Tools
Sign UpLog In

    Geomechanics.io

    Geomechanics, Streamlined.

    © 2026 Geomechanics.io. All rights reserved.

    Geomechanics.io

    CMRR-ioGEODB-ioHYDROGEO-ioQCDB-ioFree Tools & CalculatorsBlogLatest Industry News

    Industries

    MiningConstructionTunnelling

    Company

    Terms of UsePrivacy PolicyLinkedIn
    Projects

    First Quantum loss widens: cost, grade and restart signals for mine planners

    April 30, 2026|

    Reviewed by Joe Ashwell

    First Quantum loss widens: cost, grade and restart signals for mine planners

    First reported on MINING.com

    30 Second Briefing

    First Quantum Minerals’ Q1 2026 net loss widened to $196 million as copper output at its Sentinel and Kansanshi mines in Zambia slipped to 45,252 tonnes and 45,345 tonnes respectively on lower grades and recoveries, despite improved throughput. The miner warned that higher fuel and input costs could lift cash costs by about $0.25/lb (circa 11%), even as it leans on in-house smelter capacity to reduce exposure to tight sulphuric acid markets. Full-year copper guidance was raised to 405,000–475,000 tonnes, driven by planned processing of stockpiled ore at Cobre Panamá and rehiring about 1,000 workers ahead of a potential restart.

    Technical Brief

    • Adjusted Q1 2026 loss reached $147 million, equivalent to $0.18 per share.
    • Sentinel’s quarter-on-quarter copper output reduction was 2,983 tonnes, attributed to lower grades and recoveries.
    • Kansanshi’s production dropped 2,310 tonnes quarter-on-quarter, also linked to grade and recovery deterioration.
    • Management flagged higher-than-expected operating costs at Sentinel as the primary driver of the earnings miss.
    • First Quantum is diversifying fuel sourcing and increasing procurement volumes to manage energy price volatility.
    • In-house smelter capacity is being leveraged to reduce dependence on tight external sulphuric acid markets.

    Our Take

    The widening Q1 2026 loss at First Quantum comes as our recent coverage shows the company still committing to capital- and standards-intensive copper growth, including the IFC-aligned Taca Taca project in Argentina and trolley-assist or battery-electric haulage trials at Kansanshi, which could delay near-term cost relief but position the portfolio better on ESG and power costs over time.

    With Cobre Panamá’s 2023 shutdown already removing an estimated 5% of Panama’s GDP and 7% of export earnings, the reported potential $0.25/lb (about 11%) cash cost uplift from energy and FX pressures suggests that any restart or stockpile processing at Cobre Panamá will be highly sensitive to power pricing and contract structure, not just permitting outcomes.

    The planned US$2.05 billion graphite refinery at Baie-Comeau indicates First Quantum is moving further into battery-materials processing alongside its core copper and nickel business, which in our database is relatively rare among large copper-focused producers and could diversify earnings but also adds another large, long-dated project to fund while the group is loss-making.

    Geotechnical Software for Modern Teams

    Centralise site data, logs, and lab results with GEODB-io, CMRR-io, and HYDROGEO-io.

    No credit card required.

    • Save and export unlimited calculations
    • Advanced data visualisation
    • Generate professional PDF reports
    • Cloud storage for all your projects

    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

    Related Articles

    Mining
    about 9 hours ago

    Weir’s WARMAN MCR² mill circuit pump: reliability and wear-control notes for plant engineers

    Weir has introduced the WARMAN MCR² mill circuit pump as an evolution of its existing WARMAN mill circuit range, targeting mineral processing plants facing more complex ores, higher throughput and harsher slurry conditions. The MCR² is engineered to give operators tighter control over wear behaviour, maintenance intervals and overall asset condition in high-duty grinding circuits. For plant engineers, the new design signals further options to stabilise mill discharge pumping performance as ore hardness and variability increase.

    Tivan’s Walshy’s Wall drilling: subsurface targets and RC plan for mine planners
    Mining
    about 9 hours ago

    Tivan’s Walshy’s Wall drilling: subsurface targets and RC plan for mine planners

    Tivan has secured final regulatory and heritage approvals to start maiden drilling at the Walshy’s Wall target within the Sandover Fluorite Project in the Northern Territory, with a staged programme of 31 reverse circulation holes scheduled from October. Walshy’s Wall, a manganese–barite gossan discovered by Tivan geologists in October 2025, will be tested for subsurface continuity and grade using RC to penetrate the weathered profile efficiently. Early results will guide follow-up step-out drilling and resource definition across the broader fluorite–manganese system.

    Bellevue Gold board refresh: governance and project finance lens for mine teams
    Mining
    about 9 hours ago

    Bellevue Gold board refresh: governance and project finance lens for mine teams

    Bellevue Gold is adding two independent non-executive directors, Debra Counsell and Tanya Rybarczyk, to its board from 23 September 2026 as part of a planned succession process for the Western Australian gold producer. Both bring more than 30 years’ experience spanning mining, resources, finance and infrastructure, signalling a stronger governance and capital markets focus as Bellevue ramps up its namesake underground operation. The appointments point to closer board scrutiny of project financing, risk management and long-term growth options in a volatile gold price environment.

    Related Industries & Products

    Mining

    Geotechnical software solutions for mining operations including CMRR analysis, hydrogeological testing, and data management.

    CMRR-io

    Streamline coal mine roof stability assessments with our cloud-based CMRR software featuring automated calculations, multi-scenario analysis, and collaborative workflows.

    HYDROGEO-io

    Comprehensive hydrogeological testing platform for managing, analysing, and reporting on packer tests, lugeon values, and hydraulic conductivity assessments.

    GEODB-io

    Centralised geotechnical data management solution for storing, accessing, and analysing all your site investigation and material testing data.

    AllGeotechnicalInfrastructureHazardsEnvironmental