First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

August 09, 2006 03:01 ET

First Quantum Minerals Declares an Interim Dividend of Cdn $0.095 Per Share

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 9, 2006) - First Quantum Minerals Ltd. ("First Quantum") (TSX:FM)(LSE:FQM) announces that it will pay an interim dividend of Canadian $0.095 per share in respect of the half ended June 30, 2006. The dividend will be paid on September 5, 2006 to shareholders of record on August 22, 2006.

As announced December 13, 2005, the Board of Directors expects total dividends in respect of 2006 will be no less than 10% of after tax profits for the year. As per the Company's dividend policy, dividends are to be paid semi-annually with the first dividend paid after the second quarter in an amount per share of no less than one-third of the amount of the aggregate dividend per share paid during the preceding year.

Philip Pascall, Chairman and CEO commented, "Our goal is to set a dividend level which is consistent with our objective of maintaining strong growth through development of new mines. We are delighted that our strong performance this year thus far and the outlook for the future enables us to return no less than 10% of our 2006 after tax profit to our shareholders while we continue with our development projects."

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

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Certain of the information contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those with respect to the prices of gold, copper 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. Such factors include, among others, the actual prices of copper, gold 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 British Columbia Securities Commission and the United States Securities and Exchange Commission.


The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • First Quantum Minerals Ltd.
    Geoff Chater
    North American Contact
    (604) 688-6577 or Toll Free: 1-888-688-6577
    or
    First Quantum Minerals Ltd.
    Bill Iversen
    North American Contact
    (604) 688-6577 or Toll Free: 1-888-688-6577
    (604) 688-3818 (FAX)
    info@fqml.com
    or
    First Quantum Minerals Ltd.
    Clive Newall, President
    United Kingdom Contact
    +44 140 327 3484
    +44 140 327 3494 (FAX)
    clive.newall@fqml.com
    or
    First Quantum Minerals Ltd.
    Carina Corbett
    United Kingdom Contact
    +44 20 7907 4761
    www.first-quantum.com