First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

July 20, 2009 08:30 ET

First Quantum Minerals Reports Second Quarter 2009 Copper Production of 92,600 Tonnes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2009) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today reported copper production of 92,600 tonnes for the second quarter of 2009, a 14% increase over the equivalent 2008 period. Copper production for the first six months of 2009 totaled 182,100 tonnes.



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Second Quarter Six Months
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Operation 2009 2008 2009 2008
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(tonnes)
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Kansanshi 60,300 47,600 121,200 99,900
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Guelb Moghrein 8,000 8,700 17,300 16,400
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Frontier 24,300 23,200 43,600 36,600
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Bwana Mkubwa - 1,500 - 3,700
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Total 92,600 81,000 182,100 156,600
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Stockpiles of copper concentrate at June 30, 2009 decreased to approximately 36,500 tonnes of copper in concentrate (Kansanshi 33,800 tonnes, Frontier 2,600 tonnes and Guelb Moghrein 100 tonnes) from the March 31, 2009 level of 37,700 tonnes. Stockpiles at Kansanshi rose in the quarter as the Company temporarily suspended export shipments from the mine while awaiting the government waiver of the 15% concentrate export levy. The waiver was given on May 18, 2009 and export shipments were restarted soon thereafter.

Note: Production and stockpile numbers are preliminary and may be subject to final adjustment.

Further information will be published in the Company's second quarter operating and financial results.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall, President

For further information visit our web site at www.first-quantum.com.

Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of gold, copper, cobalt and sulphuric acid, estimated future production, estimated costs of future production, the Company's hedging policy and permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, gold, cobalt and sulphuric acid, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the Alberta, British Columbia, and Ontario Securities Commissions, the Autorite des marches financiers in Quebec, the United States Securities and Exchange Commission and the London Stock Exchange.

12g3-2b-82-4461

Listed in Standard and Poor's

Contact Information

  • First Quantum Minerals Ltd. - North American Contact
    Sharon Loung
    (647) 346-3934 or Toll Free: 1 (888) 688-6577
    (604) 688-3818 (FAX)
    sharon.loung@fqml.com
    or
    First Quantum Minerals Ltd. - United Kingdom Contact
    Clive Newall
    President
    +44 140 327 3484
    +44 140 327 3494 (FAX)
    clive.newall@fqml.com
    www.first-quantum.com
    or
    Hogarth Partnership Ltd.
    Simon Hockridge
    +44 (0) 20 7357 9477