First Quantum pushes Guelb Moghrein's switch to gold into 2027

First Quantum Minerals has postponed the conversion of its Guelb Moghrein copper-gold mine in Mauritania to a predominantly gold operation until 2027, the company disclosed with its first-quarter results on 28 April. The change means the operation, near the town of Akjoujt in the Inchiri region, will keep producing copper for the rest of 2026.

Revised guidance

Guelb Moghrein produced 2,910t of copper and 7,722oz of gold in the first quarter. First Quantum raised its 2026 copper guidance for the mine to about 7,000t and cut gold guidance to 30,000–40,000oz, because the transition to processing only oxide stockpiles and tailings through the carbon-in-leach (CIL) plant has been delayed. In the meantime the site continues to treat sulphide ore, with intermittent treatment of oxide material.

Second-quarter output, reported on 28 July, was 2,031t of copper and 6,310oz of gold, and the guidance was maintained.

At group level, the extra copper from Mauritania helps offset the loss of production from the Çayeli mine in Türkiye, which First Quantum sold during the second quarter.

A mine in late life

First Quantum acquired an 80% interest in Guelb Moghrein in 2004 and declared commercial production in 2006. The site, about 250km north-east of Nouakchott, processes around 3.4 million tonnes of sulphide ore a year into a copper-gold concentrate and recovers magnetite from flotation tails. The CIL circuit commissioned from late 2023 was intended to extend the operation's life to at least 2027. It employs more than 1,200 people, nearly all Mauritanian.

Like other remote operations, Guelb Moghrein has been exposed to the fuel-price shock that followed the conflict in the Middle East, which The North Africa Post said was raising operating costs at the site.

Why it matters for Mauritania

Guelb Moghrein is Mauritania's only significant copper producer, and its gradual shift away from copper will leave the country's copper output dependent on new discoveries in the south and north. Juniors have begun acquiring and exploring copper-gold ground in the country, but none is close to production. For now, the deferral extends the life of a copper stream that has anchored the Inchiri economy for two decades.

Sources

• First Quantum Minerals: First Quantum Minerals Reports First Quarter 2026 Results, 28 Apr 2026
• The North Africa Post: Guelb Moghrein project navigates transition as Mauritania's mining sector adapts to global pressures, 30 Apr 2026
• First Quantum Minerals: Guelb Moghrein operations overview, 28 Apr 2026
• First Quantum Minerals: First Quantum Minerals Reports Second Quarter 2026 Results, 28 Jul 2026

Photo: The town of Akjoujt in Mauritania's Inchiri region, near the Guelb Moghrein mine. Akjoujtcity, Wikimedia Commons, CC BY-SA 3.0.