15th Oct 2008 15:08
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NEWS RELEASE 08-19 October 15, 2008 www.first-quantum.com |
First Quantum Minerals ESTABLISHES NEW QUARTERLY COPPER PRODUCTION RECORD
IN THIRD QUARTER 2008
First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM", LSE Symbol "FQM") today announced a new quarterly record copper production of 82,200 tonnes for the third quarter of 2008. The new record exceeds the production levels of the third quarter of 2007 and the second quarter of 2008 by over 22,600 tonnes and 1,200 tonnes respectively.
|
2008 |
||
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Operation |
Third Quarter |
Nine Months Ended September 30 |
|
(tonnes) |
||
|
Kansanshi |
53,400 |
153,326 |
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Guelb Moghrein |
8,500 |
24,890 |
|
Frontier |
18,700 |
55,273 |
|
Bwana Mkubwa |
1,600 |
5,304 |
|
Total |
82,200 |
238,793 |
Stockpiles of copper concentrate at the end of the third quarter totaled approximately 19,900 tonnes of copper in concentrate (Kansanshi 14,300 tonnes, Frontier 3,900 tonnes and Guelb Moghrein 1,700 tonnes), a decrease of over 30% or 8,800 tonnes from the June 30, 2008 level of 28,700 tonnes.
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 12g3-2b-82-4461
of First Quantum Minerals Ltd. Listed in Standard and Poor's
G. Clive Newall
President
For further information visit our web site at www.first-quantum.com
North American contact: Sharon Loung 8th Floor, 543 Granville Street, Vancouver, British Columbia, Canada V6C 1X8 Tel: (604) 688-6577 Fax: (604) 688-3818 Toll Free: 1 (888) 688-6577 E-Mail: [email protected] United Kingdom contact: Clive Newall, President 1st Floor, Mill House Mill Bay Lane Horsham West Sussex RH12 1TQ United Kingdom Tel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: [email protected].Or Sarah MacLeod or Simon Hockridge Hogarth Partnership Ltd. Tel: +44 (0) 20 7357 9477
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.
Related Shares:
FQM.L