First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

March 14, 2007 03:01 ET

First Quantum Minerals to Pay Dividend of Cdn $0.625 Per Share

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 14, 2007) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) will pay a final dividend of Cdn $0.625 per share in respect of the financial year ended December 31, 2006. The dividend will be paid on May 10, 2007 to shareholders of record on April 19, 2007.

The final dividend of Cdn $0.625, together with the interim dividend of Cdn $0.095, totaling Cdn $0.72, represents 10% of the after tax profits of the Company for the 2006 financial year.

Philip Pascall, Chairman and CEO, commented, "Our goal is to pay dividends at a level which is compatible with our objectives of maintaining excellent returns to our shareholders, as well as strong growth through development of new and existing mines. We are delighted with the strong earnings performance and successful project commissioning in 2006 and the equally strong outlook for 2007. Accordingly, we are pleased to be able to return 10% of 2006 after tax profit to our shareholders at the same time that we continue to invest significant capital into 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 & Poor's

Sedar Profile #00006237

Certain information contained in this news release "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 Alternative Investment Market operated by the London Stock Exchange.

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. - North American Contact
    Geoff Chater
    (604) 688-6577 or Toll Free: 1-888-688-6577
    or
    First Quantum Minerals Ltd. - North American Contact
    Bill Iversen
    (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
    or
    First Quantum Minerals Ltd. - United Kingdom Contact
    Carina Corbett
    + 44 20 7907 4761
    Website: www.first-quantum.com