First Quantum Minerals Ltd. · TSX:FM
First Quantum Minerals — Investor Presentation (February 2023)
86 slides from First Quantum Minerals's investor presentation, February 2023
Slide 1: Responsible Growth
TSX FM RESPONSIBLE GROWTH February 2023
Slide 2: Cautionary Statement on Forward-Looking Information
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward-looking statements i
Slide 3: First Quantum – 6th Largest Copper Producer with Significant Nickel Growth
FIRST QUANTUM – 6th LARGEST COPPER PRODUCER WITH SIGNIFICANT NICKEL GROWTH PYHÄSALMI | Cu Zn FeO4 FINLAND LAS CRUCES | Cu Zn FQM OFFICES SPAIN OPERATING MINES ÇAYELI | Cu Zn TURKEY DEVELOPMENT PROJECTS GUELB MOGHREIN | Cu Au EXPLORATION PROJECTS MAURITANIA COBRE PANAMÁ | Cu Au Ag PANAMÁ KANSANSHI |
Slide 4: The First Quantum Approach to ESG
THE FIRST QUANTUM APPROACH TO ESG ESG integrated into First Quantum’s operating model At First Quantum, we are proud of our mines’ contributions to society and our host communities Socially Environmentally Technically Value Responsible Sound Appropriate Accretive Actions Practices Operations Investm
Slide 5: Project Pipeline to 1 Million Tonnes Copper
PROJECT PIPELINE TO 1 MILLION TONNES COPPER 0-5 YEARS >5 YEARS FIRST QUANTUM PROJECT MODEL Brownfield First Quantum Cobre Panamá IN EXECUTION In-house CP100 Expansion Board EPCM Approved Kansanshi S3 Expansion Enterprise Nickel Project COMMISSIONING BENEFITS OF FQM APPROACH Months between first prod
Slide 6: Capital Allocation - 2023 and Beyond
CAPITAL ALLOCATION - 2023 AND BEYOND Focus on debt reduction, consistent operational performance and execution of brownfield expansions 1. Balance Sheet 2. Brownfield 3. Greenfield Debt Reduction Cobre Panamá CP100 Expansion Cautious approach to greenfield projects until • Remains a priority • On tr
Slide 7: Q4 & FY 2022 Production
Q4 & FY 2022 PRODUCTION Q4 Q4 Year Year • 2022 Total copper production was down 5% from 2022 PRODUCTION 2022 2021 2022 2021 2021 but copper production in Q4 2022 was 11kt above Q3 2022 Total Copper (kt) 206 202 776 816 Cobre Panama 90 80 350 331 • Cobre Panamá delivered record annual production Kans
Slide 8: Full Year 2022 Highlights
FULL YEAR 2022 HIGHLIGHTS Highlights TOTAL COPPER PRODUCTION • January 2022 – Inaugural Climate Change Report 775,859t • March 2022 - $500 million partial redemption of 2023 Notes • May 2022 - Board approval of the S3 Expansion and Enterprise nickel project Lower than 2021 due to Kansanshi. Continue
Slide 9: Three-Year Guidance
THREE-YEAR GUIDANCE PRODUCTION GUIDANCE COST AND CAPEX GUIDANCE 2023E 2024E 2025E Copper Cost Guidance ($/lb) 2023E 2024E 2025E Cobre Panamá 350 – 380 370 - 400 370 - 400 C11 1.65 - 1.85 1.65 - 1.85 1.60 - 1.85 Kansanshi 130 – 150 130 - 150 140 - 180 AISC1 2.25 - 2.45 2.25 - 2.45 2.20 - 2.45 Sentine
Slide 10: Three-Year Guidance
THREE-YEAR GUIDANCE Production Project Capital in three-year guidance includes: Cobre Panamá: Includes the CP100 Expansion; first ore in Q1 2023 $900 million expenditures for the S3 Expansion (majority of spend to with ramp-up to 100 Mtpa by the end of the year occur over 2023 and 2024) Kansanshi: L
Slide 11: Cobre Panamá Contract Discussions
COBRE PANAMÁ CONTRACT DISCUSSIONS Engagement continues. First Quantum is committed to Cobre Panamá’s Economic Contribution reach an agreement but it must be a mutually beneficial outcome that provides the legal certainty that we need to help promote the sustainable development of Panamá, safeguard o
Slide 12: Zambian Royalty Update
ZAMBIAN ROYALTY UPDATE • Zambia 2023 Budget announced on September 30, 2022 included an amendment to the calculation of mineral royalty tax to be on an incremental basis. This change was enacted effective January 1, 2023 • This change, in conjunction with the removal of the non-deductibility of mine
Slide 13: Net Debt Evolution
NET DEBT¹ EVOLUTION • Net debt¹ decreased by $361 million in 2022 and by $2 billion since Q2 2020 • The $363 million increase in Q4 2022 was driven by the timing of working capital cash flows and $195 million dividend paid to non- controlling interests • $1 billion in 2023 senior notes redeemed in 2
Slide 14: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES EXCESS CASH PRIORITIES DEBT REPAYMENT Further debt reduction likely post debt reduction targets achieved RE-INVESTING IN THE BUSINESS Sustaining and stripping capital INORGANIC PROJECTS BALANCE SHEET PRESERVATION Target opportunities where First Quantum can unlock Net d
Slide 15: Cobre Panamá
Botija pit COBRE PANAMÁ CP100 Expansion
Slide 16: Cobre Panamá, Including CP100 Expansion
COBRE PANAMÁ, INCLUDING CP100 EXPANSION Ownership Mine Type Processing Rate CP100 Expansion 90% First Quantum Open Pit 85-90 Mtpa Sulphide circuit Expansion to 100 Mtpa 10% KOMIR Cu-Au-Ag-Mo Porphyry (end of 2023) Strip Ratio P&P Reserves M&I Resources Inferred Resources LOM 1:1 2,935.9 Mt 3,471.8 M
Slide 17: CP100 Expansion
CP100 EXPANSION CP100 Expansion Works Progress to date Outlook • Process water upgrades • 8 additional ultra-class haul trucks • CP100 ore commissioning in Q1 2023 commissioned ; Rope shovel operational • 100 Mtpa rate by the end of 2023 • Additional ball mill (Ball Mill 6) • PPA signed for CP100 (6
Slide 18: Cobre Panamá 2021 ESG Performance
COBRE PANAMÁ 2021 ESG PERFORMANCE 82% 78% 100% 66% 0 Renewable Water Water withdrawn is Reduction in level 3 Human rights purchased reuse from a low stress environmental incidents violations electricity environment since 2017 INNOVATION COMMUNITY INVESTMENT • Expansion of use of trolley assist • 200
Slide 19: Cobre Panamá 2021 ESG Performance
COBRE PANAMÁ 2021 ESG PERFORMANCE Greenhouse Gas Energy Water 2,387 KT CO2e 138.1 GIGALITRE 10,504 TJ WATER WITHDRAWN Scope 1 Emissions ENERGY CONSUMED Excluding sea water used for cooling 107 KT CO2e 932 TJ Scope 2 Emissions PURCHASED ELECTRICTY 37 GIGALITRE Operational Water Consumption 952 KT CO2
Slide 20: Mine and Process Plant Layout
MINE AND PROCESS PLANT LAYOUT 4 x IN-PIT PRIMARY COLINA PIT CRUSHERS TAILINGS MANAGEMENT FACILITY BOTIJA PIT ORE STOCKPILE OVERLAND CONVEYOR GOLD PLANT MILL BUILDING SECONDARY & PEBBLE FLOTATION CIRCUITS HIGH INTENSITY GRINDING MOLY PLANT SITE CRUSHING MILLS 20
Slide 21: Sentinel
Sentinel plant SENTINEL Enterprise
Slide 22: Sentinel and Enterprise
SENTINEL AND ENTERPRISE Ownership Mine Type Processing Rate Enterprise 100% First Quantum Open Pit Sentinel: 62 Mtpa Sulphide 4 Mtpa Sulphide circuit circuit (first ore H1 2023) Sentinel: primary sulphide copper SENTINEL & ENTERPRISE Enterprise: hydrothermal sulphide nickel Strip Ratio P&P Reserves
Slide 23: Enterprise
ENTERPRISE Enterprise Works Progress To Date Outlook • Main workstream is pre-strip • Board approval in May 2022; pre-stripping • Plant refurbishment, completion and commenced commissioning activities on schedule • 4 Mtpa processing circuit mainly constructed in 2014 as part of • Mine facilities (sa
Slide 24: Sentinel 2021 ESG Performance
SENTINEL 2021 ESG PERFORMANCE 85% 61% 100% 69% 0 Renewable Water Water withdrawn is Reduction in level 3 Human rights purchased reuse from a low stress environmental violations electricity environment incidents since 2017 BIODIVERSITY LOCAL CONTENT • Supporting social and ecological development thro
Slide 25: Sentinel 2021 ESG Performance
SENTINEL 2021 ESG PERFORMANCE Greenhouse Gas Energy Water 268 KT CO2e 57.5 GIGALITRE 5,449 TJ WATER WITHDRAWN Scope 1 Emissions ENERGY CONSUMED 179 KT CO2e 4,077 TJ 34 GIGALITRE Scope 2 Emissions PURCHASED ELECTRICTY Operational Water Consumption 241 KT CO2e 23.4 GJ 1.0 M3 Scope 3 Emissions PER TONN
Slide 26: Sentinel
SENTINEL Pit In-Pit Crushers Ball Mills Floatation Circuit 26
Slide 27: Kansanshi
Kansanshi Mills KANSANSHI S3 Expansion
Slide 28: Kansanshi, Including S3 Expansion
KANSANSHI, INCLUDING S3 EXPANSION Ownership Mine Type Processing Rate S3 Expansion 80% First Quantum Open Pit 7 Mtpa Oxide circuit S3 25 Mtpa Expansion 20% ZCCM-IH Vein deposit; Primary sulphide, 8 Mtpa Mixed circuit (First production H2 2025) mixed supergene and oxide 15 Mtpa Sulphide circuit Smelt
Slide 29: S3 Expansion
S3 EXPANSION S3 Expansion Works Progress To Date Outlook • Additional concentrator capacity • Board approval in May 2022 • Mining fleet deliveries commencing H2 2023 • Additional SAG and ball mill • Long-lead items procured (primary crusher, mills and fleet) • Limited production expected to • Constr
Slide 30: Kansanshi 2021 ESG Performance
KANSANSHI 2021 ESG PERFORMANCE 85% 66% 100% 0 0 Renewable Water Water withdrawn is Level 4 or 5 Human rights purchased reuse from a low stress environmental violations electricity environment Incidents SOCIAL PROJECTS INNOVATION • Conservation farming program helping nearly 40,000 farmers • Use of t
Slide 31: Kansanshi 2021 ESG Performance
KANSANSHI 2021 ESG PERFORMANCE Greenhouse Gas Energy Water 906 KT CO2e 46.8 GIGALITRE 6,412 TJ WATER WITHDRAWN Scope 1 Emissions ENERGY CONSUMED 197 KT CO2e 4,480 TJ 27 GIGALITRE Scope 2 Emissions PURCHASED ELECTRICTY Operational Water Consumption 91 KT CO2e 28.3 GJ 1.7 M3 Scope 3 Emissions PER TONN
Slide 32: Kansanshi Site Layout
KANSANSHI SITE LAYOUT ROM Pad & Gyratory ROM Pad & Crushers Gyratory Crushers OxideOxide Stockpile & Mill Stockpile & Mill Smelter Smelter Mixed Stockpile & Mill Mixed Ore Stockpile & Mill OxideFlotation Oxide Flotation & Sulphide Sulphide&&Mixed Mixed Ore Ore Preleach & PreleachThickener Thickener
Slide 33: Kansanshi S3 Expansion Mine Layout
KANSANSHI S3 EXPANSION MINE LAYOUT IN-PIT CRUSHER IN-PIT CRUSHER WASTE CRUSHER 33
Slide 34: Kansanshi Smelter Overview
KANSANSHI SMELTER OVERVIEW Commissioned in early 2015, making it one of the newest • Original nameplate concentrate capacity of 1.2 Mtpa operating smelters globally (Ex-China) concentrate subsequently increased to 1.35 Mtpa • Fully-functional and equipped copper smelter with • Received Board approva
Slide 35: Las Cruces
Las Cruces LAS CRUCES Underground Expansion
Slide 36: Las Cruces Underground Project
LAS CRUCES UNDERGROUND PROJECT • Benefits from existing team, workforce and infrastructure • Indicative details (not included in 3-year guidance) • 3-4 year development • Mine life >15 years • Annual production ~45 kt CuEq • Environmental permits received in 2020; mine exploitation permit received i
Slide 37: Greenfield Growth
Taca Taca GREENFIELD GROWTH
Slide 38: Taca Taca
TACA TACA 275,000 Low 32 Years US$3.6 Billion Tonnes of Cu C1 Cash Costs Mine Life Capital Per Year (Peak) Investment 50 - 200 Megawatts of Renewable Energy Sanction decision not expected before 2024, conditional on market conditions Copper (ktpa) Gold (kozpa) Molybdenum (ktpa) 300 K Tonnes (Cu, Mo)
Slide 39: Taca Taca Summary
TACA TACA SUMMARY • Taca Taca is a world class, large open pit copper project with MINERAL RESOURCES gold and molybdenum by-products Tonnes TCu Mo Au Classification (Mt) (%) (%) (g/t) • Long life, low capital intensity, low cost, limited Total Measured 421.5 0.60 0.016 0.14 environmental sensitiviti
Slide 40: Taca Taca Key Items Prior to Investment
TACA TACA KEY ITEMS PRIOR TO INVESTMENT No decision expected on Taca Taca prior to 2024 Environmental Permits Key Topics for Investment Permitting Status and Water Rights Case • Approval of ESIA is anticipated in Environmental approvals for: • Stability 2023 (submitted in 2019) • Export Duty • Mine
Slide 41: Haquira Overview
HAQUIRA OVERVIEW • Large scale porphyry copper project in Apurímac, Southern Peru • Acquired in December 2010 • One of the world’s major undeveloped copper deposits • M&I resource of 3.7 million tonnes of contained copper equivalent plus an inferred resource of 2.4 million tonnes of copper equivalen
Slide 42: ESG
ESG
Slide 43: Copper: Critical Mineral for the Future
COPPER: CRITICAL MINERAL FOR THE FUTURE The metals that we mine are vital to the transition to a low ANNUAL COPPER DEMAND, carbon economy and for socioeconomic development IEA SUSTAINABLE DEVELOPMENT SCENARIO 16 Copper demand for 40 CO2e Less than 1% renewables, EVs and 14 electricity networks 35 of
Slide 44: The First Quantum Approach to Innovation
THE FIRST QUANTUM APPROACH TO INNOVATION Leveraging innovation to drive sustainability, operational efficiencies and cost savings IN-PIT PRIMARY CRUSHING AND KANSANSHI HIGH PRESSURE TROLLEY ASSIST IMPROVED CONCENTRATE GRADES CONVEYING ACID LEACH BLAST OPTIMISATION COMMINUTION OPTIMISATION ROLLING RE
Slide 45: Operational Innovation Driving GHG Reductions
OPERATIONAL INNOVATION DRIVING GHG REDUCTIONS INDUSTRY LEADING WORLD’S LARGEST CARBON PRICE Use of mining and hauling electrification Ultraclass fleet using Trolley Assist at Cobre Used in major new project evaluation to technologies Panamá incentivise lower GHG emissions ~100,000 TONNES total estim
Slide 46: Trolley Assist Case Study
TROLLEY ASSIST CASE STUDY Innovation in mining is integral to First Quantum’s philosophy Commenced in 2013 at Kansanshi and now in use at Sentinel and Cobre Panamá following successful collaboration with OEMs Swapping diesel for electricity Trucks fitted with pantographs connect to overhead power li
Slide 47: Action on Climate Change
ACTION ON CLIMATE CHANGE No significant capital Carbon Price Zambian and expenditure for the evaluation of Panamanian Power expected before 2025 new projects key to decarbonisation Renewable costs competitive at current thermal coal prices -30% -50% TARGETS Reduction in absolute Reduction in absolut
Slide 48: Water Use
WATER USE First Quantum has a core commitment to minimize water withdrawal and discharge by adopting new technologies, continually improving efficiencies and on site water reuse FIRST QUANTUM GROUP 0.5% WATER WITHDRAWAL (MEGALITRES - ML) PER TONNE OF ORE MILLED Freshwater withdrawn from areas of hig
Slide 49: Appendix
Cobre Panama Appendix
Slide 50: Q4 2022 Highlights
Q4 2022 HIGHLIGHTS Recent Developments TOTAL COPPER PRODUCTION • An agreement with ZCCM-IH whereby the dividend rights in KMP have been converted 206,007t Higher than Q3 2022 due to higher to royalty rights • Declared final dividend of CDN$0.13 per share, for a total of CDN$0.29 per share for produc
Slide 51: Q4 2022 ESG Highlights
Q4 2022 ESG HIGHLIGHTS Biodiversity Biodiversity Health and Safety Award-winning Teams Trident hosted the National Launch of Cobre Panamá inaugurated the first in 150 Çayeli employees completed North-Western Chamber of Commerce and Industry the 2022/2023 Tree Planting Season vitro culture laboratory
Slide 52: Cobre Panamá Q4 2022
COBRE PANAMÁ Q4 2022 COPPER PRODUCTION 2023 Outlook 89,652t Marginally lower than Q3 2022 on lower • CP100: Pre-commissioning testing has commenced with introduction of first ore in Q1 2023. Ramp up to achieve 100 Mtpa by the end of 2023 throughput. Record volume of ore processed in • 2023 full year
Slide 53: Kansanshi Q4 2022
KANSANSHI Q4 2022 COPPER PRODUCTION 2023 Outlook 34,802t Higher than Q3 2022 due to grade improvement • Copper production to be similar to 2022 levels with lower oxide and sulphide grades • Continued work on reconciliations to incorporate in near-term mine plans to further improve and optimize seque
Slide 54: Sentinel Q4 2022
SENTINEL Q4 2022 COPPER PRODUCTION 2023 Outlook 73,409t Higher than Q3 2022 on record quarterly • Operation has experienced heavy rains in January, impacting mining sequence and operations for Q1 2023 throughput, higher grades and recoveries • Continued focus on mining fleet availability and product
Slide 55: Q4 2022 Revenues and Costs
Q4 2022 REVENUES AND COSTS • Copper price has risen since start of Q4 due to supply disruptions and relaxing of REALIZED COPPER PRICE1 (per lb) COVID-19 policies in China $3.56 • Revenues increased due to higher realized metal prices1 for copper, gold and nickel. Copper sales flat from Q3 Up 4% quar
Slide 56: Copper C1 Cash Cost Waterfall
COPPER C1 CASH COST¹ WATERFALL • Positive impact of higher grades was offset by higher maintenance activities coupled with lower by product credits ¹ C1 cash cost (C1) is a non-GAAP ratio which does not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial m
Slide 57: Q4 2022 Earnings and EBITDA
Q4 2022 EARNINGS AND EBITDA1 Q4 2022 Financial Highlights EBITDA¹ • Q4 2022 financial results benefitted from higher copper prices, but was impacted by $647 million • lower gold sales and timing of maintenance spend EBITDA1 increased 11% as higher prices more than offset increased costs Up 11% quart
Slide 58: EBITDA Waterfall
EBITDA¹ WATERFALL • EBITDA¹ $64 million higher than Q3 2022, reflecting increases in copper and nickel prices External Factors External Factors Internal Factors (-$30 million) Internal Factors (-$34 million) (-$353 million) (+$98 million) -$4 million Fuel -$4 million Explosives -$2 million Grinding
Slide 59: Quarterly Net Debt Movement
QUARTERLY NET DEBT1 MOVEMENT • Net debt1 increased by $363 million this quarter, driven by an increase in working capital and the payment⁴ of $195 million in dividends to non controlling interest shareholders at Kansanshi operations ¹ Net debt is a supplementary financial measure and EBITDA is a non
Slide 60: Copper Cash Cost and AISC
COPPER CASH COST¹ AND AISC¹ The First Quantum Financial Policy • Year-to-date copper C1 cash cost¹ and AISC¹ of $1.76/lb and $2.35/lb, impacted by inflationary pressures and lower production COPPER C1 CASH COST¹ ($/lb) COPPER AISC¹ ($/lb) 2.45 2.35 1.80 1.70 2.42 1.86 2.37 2.34 2.35 1.82 2.27 1.74 1
Slide 61: Financial Summary
FINANCIAL SUMMARY • Financials benefitted from higher realized metal prices1 except cash flow from operations was impacted by increase in receivables held at The First Quantum Financial Policy year end $ Million (except per share numbers) Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Sales revenues 1,832
Slide 62: Quarterly Net Debt Movement
QUARTERLY NET DEBT MOVEMENT Quarterly Full Year movement movement Closing Net debt¹ at September 30, 2022/ December 31, 2021 (5,329) (6,053) ($ million) EBITDA¹ 647 3,316 Working capital² (340) (345) Capital expenditure (317) (1,167) Interest paid³ (90) (472) Taxes paid (42) (548) Dividends paid - (
Slide 63: Precious Metal Stream Arrangement
PRECIOUS METAL STREAM ARRANGEMENT • Cobre Panamá gold and silver revenues consist of revenues derived from the sale of metals produced by the mine, as well as revenues recognized from the amortization of the precious metal stream arrangement • Stream gold and silver revenues are indexed to copper so
Slide 64: Non-GAAP EBITDA and Adjusted Earnings Reconciliation
NON-GAAP EBITDA¹ AND ADJUSTED EARNINGS¹ RECONCILIATION $ Million (except per share numbers) Q4 2022 Q4 2021 FY 2022 FY 2021 Operating profit 314 722 2,241 2,598 Depreciation 327 314 1,230 1,174 Foreign exchange (gain) loss 25 (13) (184) (159) Impairment expense - 44 - 44 Other expense (income) (5) 1
Slide 65: Non-GAAP Measures Reconciliation C1 and AISC
NON-GAAP MEASURES RECONCILIATION C1 AND AISC Guidance$for million Q4 2022 reporting. the upcoming three years is provided annually as part of year-end Q4 2021 FY 2022 On a quarterly FY 2021 for the basis, guidance The First Quantum current year will Financial Policy b updated as necessary or re-affi
Slide 66: EBITDA Sensitivity
EBITDA¹ SENSITIVITY Guidance for the upcoming three years is provided annually as part of year-end reporting. On a quarterly basis, guidance for the The First current Quantum year Financial will b updated Policyor re-affirmed. as necessary Impact on FY EBITDA¹ Actual price/rate FY Assumption of a 10
Slide 67: Capitalization & Debt Maturity Profile
CAPITALIZATION & DEBT MATURITY PROFILE AS AT DECEMBER 31, 2022 Capitalization ($ Million) Actual DEBT MATURITY PROFILE Cash and cash equivalents 1,688 Debt(1) FQM Term Loan 1,397 $450m of 2024 Notes 2,093 FQM RCF ($1.3 billion Facility) 770 redeemed on 25th Trident Facility 425 February 2023 255 202
Slide 68: Simplified Debt Structure
SIMPLIFIED DEBT STRUCTURE AS AT DECEMBER 31, 2022 Key Senior Notes: Borrower Due 2024 - $850 million FQM Facility First Quantum Minerals Ltd Due 2025 - $1,350 million Term Loan:$1.397 billion Canada RCF: $1.3 billion Due 2026 - $1,000 million Guarantor Due 2027 - $1,500 million MPSA Group Non Guaran
Slide 69: Copper Price and Inflation
COPPER PRICE AND INFLATION Strong correlation between copper price and inflation Cost containment during higher price cycles. Significant cost adjustment during lower price cycles CORRELATION BETWEEN COPPER PRICE 8.8 2022 COST BY NATURE BREAKDOWN AND INFLATION (EXC. DEPRECIATION) Other Employee & Co
Slide 70: Summary of Brownfield Projects
SUMMARY OF BROWNFIELD PROJECTS COBRE PANAMÁ plus CP100 KANSANSHI plus S3 ENTERPRISE LAS CRUCES UNDERGROUND Commodity Cu, Au, Ag, Mo Cu, Au Ni Cu, Zn, Pb, Ag Mine Type Open Pit Open Pit Open Pit Underground Total Production 400 ktpa Cu 250 ktpa Cu 30 ktpa Ni 45 ktpa CuEq • Strong team in place • Stro
Slide 71: ESG Appendices
ep ESG Appendices
Slide 72: Continuous Focus on Health & Safety
CONTINUOUS FOCUS ON HEALTH & SAFETY We want everyone who works at our sites to go home safely to their families at the end of every shift EMERGENCY RESPONSE & CRISIS MANAGEMENT 2021 Performance 0.33 0.07 “My Emergency Control” Total recordable injury Lost time injury Mobile Application to better fre
Slide 73: Tailings Management
TAILINGS MANAGEMENT • Our Tailings Storage Facilities are designed and operated in accordance with recognised international guidelines and directives • We operate our facilities in accordance with the design intent and local conditions • Senior management and engineering staff work closely with oper
Slide 74: Cobre Panamá Biodiversity
COBRE PANAMÁ BIODIVERSITY Protected Areas = +30x Cobre Panamá Mine Footprint More than 210,000 hectares of National Parks and Managed Areas supported by Cobre Panamá programs Conservation Partnerships Reforestation Plan Protected Area Action Plan Species-Level Conservation Plan 32,000+ 55,000+ Anima
Slide 75: Zambian Biodiversity
ZAMBIAN BIODIVERSITY First Quantum Program Areas = 100x Mining Footprint West Lunga Partnerships Natural habitat supported by our programs include the West Lunga Ecosystem (11,750 km2), Bushingwe (312 km2) and Lualaba (1,107 km2) national parks Developed in partnership with neighbouring communities
Slide 76: Our People
OUR PEOPLE We seek to give our workforce the chance to achieve their full potential by taking their skills and experience to the next level and the prospect of growing and developing their careers COMPANY FEMALE We promote: REPRESENTATION • inclusion and diversity in the workplace 98% 30% completion
Slide 77: Corporate Social Responsibility and Community Engagement
CORPORATE SOCIAL RESPONSIBILITY AND COMMUNITY ENGAGEMENT Earning and maintaining community support is fundamental to First Quantum’s success Respect • Transparency • Building mutual trust • Sensitivity to culture and traditions • Access to land and resources Benefit • Community investment partnershi
Slide 78: Collaboration in Community Investment
COLLABORATION IN COMMUNITY INVESTMENT Listening to communities to prioritize community investment and deliver social benefit: $31 million invested in 2021 Livelihoods Education Conservation Farming for Nutrition Trade Schools Farming Cooperatives Scholarships Village banking Learning materials Local
Slide 79: Community Development
COMMUNITY DEVELOPMENT At First Quantum, we are proud of our mines’ contributions to society and our host communities Community social and economic development plans are aligned with the UN SDGs and the national development strategies for host countries. Continual refinement of social investment stra
Slide 80: Community Livelihoods
COMMUNITY LIVELIHOODS Conservation Farming First Quantum organizes workshops to teach local farmers basic business principles and their application to high-value crop farming as a sustainable source of income 9,200 40,000 tonnes of maize grown in farmers supported to 2021 by farmers date School-on-r
Slide 81: Community Livelihoods
COMMUNITY LIVELIHOODS Association of Donoso and La Pintada Producers (DONLAP) A collaborative program by Cobre Panamá and the $2 million worth of produce purchased from Ministry of Agricultural Development. The program DONLAP by Cobre Panamá in 2021 is made up of local communities neighboring the mi
Slide 82: Community Health & Wellness
COMMUNITY HEALTH & WELLNESS A multidisciplinary department which: 658 • Focuses on providing holistic health and wellness services to Kansanshi and Sentinel pupils participated in the soccer tournament from 20 catchment schools mines and their associated communities, and as part of child empowerment
Slide 83: Community Infrastructure
COMMUNITY INFRASTRUCTURE Committed to building strong communities around our operations by investing in communities and public services Educational Community 3 Infrastructure new schools Constructed through the Trident foundation and in 7 collaboration with the community, First Quantum has by 3 clas
Slide 84: Community Infrastructure
COMMUNITY INFRASTRUCTURE Committed to building strong communities around our operations by investing in communities and public services Investment in Panamanian Communities $4 million 4 6 12 invested in infrastructure bridges schools built schools development projects constructed renovated during 20
Slide 85: Economic Contribution
ECONOMIC CONTRIBUTION Where commercially possible, First Quantum endeavours to prioritize local firms and encourage local workforce participation The Company is committed to the maintenance of its local procurement programs, which includes: COMPANY SUPPLIER SPEND • Building capacity in local supply
Slide 86: First Quantum Minerals Ltd.
TSX FM First Quantum Minerals Ltd. info@fqml.com 416-361-6400 1-888-688-6577
First Quantum Minerals — Investor Presentation (February 2023) on 6ix