First Quantum Minerals Reports 2010 Production of 322,700 Tonnes of Copper and 191,400 Ounces of Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 13, 2011) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today reported production of 75,600 tonnes of copper and 48,600 ounces of gold for the fourth quarter and 322,700 tonnes of copper and 191,400 ounces of gold for the year ended December 31, 2010. Copper production was in line with the Company's guidance and reflects new monthly and quarterly records at the Kansanshi operation.

	Fourth Quarter				Year
Operation	2010	2009	2010	2009	2010	2009	2010	2009
	Copper (tonnes)		Gold (ounces)		Copper (tonnes)		Gold (ounces)
Kansanshi	65,900	62,453	29,000	32,476	230,800	244,979	109,600	99,936
Guelb Moghrein	9,700	11,816	19,600	30,203	37,000	36,608	81,800	93,352
Frontier	-	24,259	-	-	47,500	92,353	-	-
Bwana Mkubwa	-	-	-	-	7,400	-	-	-
Total	75,600	98,528	48,600	62,679	322,700	373,940	191,400	193,288

Finished copper inventory at December 31, 2010 decreased to approximately 36,700 tonnes of copper (Kansanshi 27,200 tonnes, Frontier 1,200 tonnes (at dispatch port), Guelb Moghrein 8,300 tonnes), from the September 30, 2010 level of 37,000 tonnes.

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

Further information will be published in the Company's report on operating and financial results for the year 2010 which is scheduled for release during the week of March 14, 2011.

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 Autorité des marchés financiers in Quebec, the United States Securities and Exchange Commission and the London Stock Exchange.

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