First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

July 14, 2008 08:45 ET

First Quantum Minerals Reports New Quarterly Record Copper Production in Second Quarter 2008

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2008) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today announced a new quarterly record copper production of 80,600 tonnes for the second quarter of 2008. The new record exceeds the production levels of the second quarter of 2007 and the first quarter of 2008 by over 60% and 6%, respectively.



--------------------------------
Second
Quarter
Operation (tonnes)
--------------------------------

--------------------------------
Kansanshi 47,600
--------------------------------
Guelb Moghrein 8,400
--------------------------------
Frontier 23,100
--------------------------------
Bwana Mkubwa 1,500
--------------------------------

--------------------------------
Total 80,600
--------------------------------


Stockpiles of copper concentrate at the end of the second quarter totaled approximately 28,600 tonnes of copper in concentrate (Kansanshi 16,300 tonnes, Frontier 10,800 tonnes and Guelb Moghrein 1,500 tonnes), a decrease of 3,000 tonnes from the March 31, 2008 level of 31,600 tonnes.

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

Listed in Standard and Poor's

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

Certain information contained in this news release are "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.

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Contact Information

  • First Quantum Minerals Ltd. - North American Contact
    Sharon Loung
    (604) 688-6577 or Toll Free: 1-888-688-6577
    (604) 688-3818 (FAX)
    EMail: info@fqml.com
    or
    First Quantum Minerals Ltd. - United Kingdom Contact
    Clive Newall
    President
    +44 140 327 3484
    +44 140 327 3494 (FAX)
    Email: clive.newall@fqml.com
    Website: www.first-quantum.com
    or
    Hogarth Partnership Ltd.
    Harriet Pask
    +44 (0) 20 7357 9477
    or
    Hogarth Partnership Ltd.
    Sarah MacLeod
    +44 (0) 20 7357 9477