Net profit reached $2.20 billion and revenue $5.71 billion as a 30.5% copper-price gain outweighed a 3.7% production decline, while the group financed Tía María and explored rail assets.
The world's largest copper producer wants a decade of investment, more refined-metal sales and additional buyers, while keeping China as a central customer.
Adjusted earnings reached 74 cents a share versus a 59-cent estimate, as a 41.5% copper-price increase offset steep production declines and $363 million of Grasberg repair costs.
Panama is studying a state-owned mining company that could partner with First Quantum Minerals and provide a legal structure for reopening Cobre Panama, a copper mine closed since 2023 after a constitutional ruling.
The Canadian miner reported adjusted earnings well above market expectations after copper prices rose sharply and production increased, reinforcing investor focus on critical minerals and the company's pending combination with Anglo American.
