FQM Q4 2025
2026 02 10 Q4-2025-FQM-News-Release.pdf
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Re: FQM Q4 2025
royalties 51
Re: FQM Q4 2025
mgauthi4 a écrit : mer. 11 févr. 2026 10:17royalties 51
Salut Michel

Pourquoi il y a 2 tableaux avec des royalties différents à 63 et 51?
Re: FQM Q4 2025
Donc royalties versés en 2025: Q1: 27M$ Q2: 46M$ Q3: 46M$ Q4: 51M$ Total 2025: 170M$ ! Tant que ça!
Re: FQM Q4 2025
euh Royalties comprends surement les royalties envers le gouvernement zambien
"Government Royalties: These are the primary component of the "Royalties" line item. They are calculated based on the Zambian sliding scale (ranging from 4% to 10% depending on the copper price).

ZCCM-IH Royalties: In April 2023, ZCCM-IH converted its 20% dividend rights in Kansanshi Mining PLC (KMP) into a 3.1% gross revenue royalty. While these are royalties, FQM typically classifies the payments to ZCCM-IH as a financial liability or an operating expense related to the Kansanshi mine specifically, rather than grouping them entirely with the state's sovereign tax royalties."
Re: FQM Q4 2025
Laf1986 a écrit : mer. 11 févr. 2026 11:58 euh Royalties comprends surement les royalties envers le gouvernement zambien
"Government Royalties: These are the primary component of the "Royalties" line item. They are calculated based on the Zambian sliding scale (ranging from 4% to 10% depending on the copper price).

ZCCM-IH Royalties: In April 2023, ZCCM-IH converted its 20% dividend rights in Kansanshi Mining PLC (KMP) into a 3.1% gross revenue royalty. While these are royalties, FQM typically classifies the payments to ZCCM-IH as a financial liability or an operating expense related to the Kansanshi mine specifically, rather than grouping them entirely with the state's sovereign tax royalties."
Kansanshi Total Revenue (Estimated): Approximately $1.95 billion (Calculated using an average realized copper price of ~$4.30/lb and gold contributions).

Full Year 2025 ZCCM Royalty: Approximately $60.5 million.

Note: For the first nine months of 2025 (Q1–Q3), FQM's financial notes already recognized roughly $45–$50 million in cumulative royalty expenses/payables to ZCCM-IH. With the Q4 ramp-up of the S3 project, the total for the year settles in the $60M - $63M range.
Re: FQM Q4 2025
Nous n'avons, sauf erreur de ma part, pas encore le montant total des ventes de Kansanshi, par contre, nous connaissons approximativement les volumes produits, soit qqs 181 000 t de Cu et 116 000 onces d'or. Prix moyen de vente du Cu, je dirais 4,5$/£ et 4000$/once (??) ce qui nous donnerait 181 000x9600 + 4000x110 000=2170 M$ et les royalties se monteraient alors à 2170x3,1% =67M$ (cela n'est que mon estimation!).
Attendons les chiffres officiels de FQM
Nota: les ventes se fait par des contrats ("hedgés")
Re: FQM Q4 2025
Désolé, Laf 1986 vient de publier pendant que je faisais mes calculs...en fait les chiffres sont très proches
Re: FQM Q4 2025
Laf1986 a écrit : mer. 11 févr. 2026 11:59
Laf1986 a écrit : mer. 11 févr. 2026 11:58 euh Royalties comprends surement les royalties envers le gouvernement zambien
"Government Royalties: These are the primary component of the "Royalties" line item. They are calculated based on the Zambian sliding scale (ranging from 4% to 10% depending on the copper price).

ZCCM-IH Royalties: In April 2023, ZCCM-IH converted its 20% dividend rights in Kansanshi Mining PLC (KMP) into a 3.1% gross revenue royalty. While these are royalties, FQM typically classifies the payments to ZCCM-IH as a financial liability or an operating expense related to the Kansanshi mine specifically, rather than grouping them entirely with the state's sovereign tax royalties."
Kansanshi Total Revenue (Estimated): Approximately $1.95 billion (Calculated using an average realized copper price of ~$4.30/lb and gold contributions).

Full Year 2025 ZCCM Royalty: Approximately $60.5 million.

Note: For the first nine months of 2025 (Q1–Q3), FQM's financial notes already recognized roughly $45–$50 million in cumulative royalty expenses/payables to ZCCM-IH. With the Q4 ramp-up of the S3 project, the total for the year settles in the $60M - $63M range.

Merci Laf pour ton message.
Où as-tu trouvé cette info?
Re: FQM Q4 2025
Pris dans les comptes 2024:

On April 4, 2023 the Company’s subsidiary, KMP and ZCCM Investments Holdings Plc "ZCCM-IH" completed the agreement
to convert ZCCM-IH's dividend rights to a 3.1% royalty interest in KMP. The transaction also provides for 20% of the KMP
VAT refunds as at June 30, 2022 to be paid to ZCCM-IH, as and when these are received by KMP from the Zambia Revenue
Authority ("ZRA)". As at December 31, 2024, a VAT payable to ZCCM-IH of $58 million, net of adjustment for expected
phasing of payments, and an expense of $5 million for the year ended December 31, 2024, has been recognized.



Le 4 avril 2023, la filiale de la société, KMP, et ZCCM Investments Holdings Plc « ZCCM-IH » ont conclu un accord
visant à convertir les droits à dividendes de ZCCM-IH en une redevance de 3,1 % sur KMP. La transaction prévoit également que 20 % des
remboursements de TVA de KMP au 30 juin 2022 soient versés à ZCCM-IH, au fur et à mesure que ceux-ci sont reçus par KMP de la part de l'administration fiscale zambienne
(« ZRA »). Au 31 décembre 2024, une TVA payable à ZCCM-IH de 58 millions de dollars, nette de l'ajustement pour l'échelonnement prévu
des paiements, et une charge de 5 millions de dollars pour l'exercice clos le 31 décembre 2024 ont été comptabilisées.
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