First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

October 19, 2009 08:00 ET

First Quantum Minerals Reports Third Quarter 2009 Copper Production of 93,500 Tonnes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2009) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today reported copper production of 93,500 tonnes for the third quarter and 275,300 for the first nine months of 2009. These production levels exceed those of the equivalent 2008 periods by 14% and 15%, respectively.

 Third QuarterNine Months

Operation

2009

2008

2009

2008
 (tonnes)
Kansanshi61,30053,400182,500153,300
Guelb Moghrein7,4008,50024,80024,900
Frontier24,80018,70068,00055,300
Bwana Mkubwa-1,600-5,300
     
Total93,50082,200275,300238,800

Stockpiles of copper concentrate at September 30, 2009 decreased 30% to approximately 25,500 tonnes of copper in concentrate (Kansanshi 21,900 tonnes, Frontier 3,100 tonnes and Guelb Moghrein 500 tonnes) from the June 30, 2009 level. A 35% decrease in the Kansanshi stockpile reflects a full quarter of export shipments following the receipt, on May 18, 2009, of a government exemption on the 15% concentrate export levy.

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

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

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

G. Clive Newall, President

12g3-2b-82-4461
Listed in Standard and Poor's

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.

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