By BUUMBA CHIMBULUTHE targeted debt reduction programme of the First Quantum Mineral’s (FQM) US$2 billion is expected to be completed by the first half of this year, as the mining company achieves its highest-ever annual copper production.FQM is committed to reducing total debt to levels appropriate for its business, according to FQM Chairman and Chief Executive Officer, Philip Pascall.Mr Pascall said the targeted debt reduction programme of US$2 billion was expected to be completed by the first half of 2022.“First Quantum continues to be focussed on delivering disciplined and responsible growth, which is reflected in the strong increase in our copper and nickel production through the guidance period. “We remain committed to reducing our debt levels, whilst at the same time cautiously increasing capital returns to reflect the robust financial outlook,” he said when announcing FQM’s 2021 Preliminary Production.Mr Pascall also announced that FQM set tangible targets with an identified realistic path to reduce its Green […]
FQM to clear $2bn in first half of 2022
