Video News/Future Minerals Forum 2026

First Quantum Minerals (TSX: FM) President and CEO Tristan Pascal spoke with Kitco Mining’s Paul Harris at Future Minerals Forum 2026 in Riyadh as copper traded near $6 per pound. Pascal said copper is increasingly being driven by a structural gap between supply and demand, with accelerating consumption from electrification, renewable energy, electric vehicles, data centers, and AI-driven grid upgrades. He highlighted how tight the market has become, noting that global copper inventories amount to only days of supply, leaving prices highly sensitive to disruptions. Pascal explained why higher prices have yet to unlock large-scale new supply, pointing to declining grades, rising capital and operating costs, inflation, longer permitting timelines, and the cost of capital. He discussed First Quantum’s build-focused strategy, progress at its S3 expansion in Zambia, and the potential pathway for projects such as Taca Taca in Argentina. Pascal also addressed balance sheet restructuring following the closure of Cobre Panamá, recent engagement with the Panamanian government, and the company’s focus on disciplined growth as copper’s strategic importance continues to rise.