“We did see some early positive green shoots on cost inflation as some input costs started to fall later in the end of this quarter,” First Quantum Chief Financial Officer Ryan MacWilliam said in Wednesday’s call. Oil prices fell between June and September, while marine freight costs slid by about 15%, he said. Sulfur prices — which represent 20% of the costs at its Australian nickel mine — plunged by 80%.
Lundin CFO Teitur Poulsen said total costs in the first nine months of 2022 were 20% higher than last year, an indication of overall inflationary pressures mainly in the first half. “Looking at the numbers now it seems certainly to be flattening out and potentially even dropping down a bit in certain jurisdictions.”
The comments by the Canadian miners come about three weeks after Southern Copper Corp.’s CFO said he expects third-quarter costs to be down from the prior three-month period thanks to easing prices of…
