First Quantum earnings fall following Inmet acquisition

Aug 02, 2013 | 12:05 PM | Everdeen Mason

Tags  copper, nickel, gold, platinum, First Quantum Minerals, earnings report, Inmet Mining, Cobre Panama Kevitsa

NEW YORK — First Quantum Minerals Ltd.’s earnings fell in the second quarter following its Canadian $5.1-billion ($4.9-billion) acquisition in April of Inmet Mining Corp. and the associated Cobre Panama mining project.

Vancouver, British Columbia-based First Quantum posted net income of $71.9 million in the three months ended June 30, down 49.4 percent from $142 million in the same period last year despite a 20.4-percent increase in sales to $869.3 million.....

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