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23 Jan 2014 14:15
NEWS RELEASE 14-01 January 23, 2014www.first-quantum.com
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FIRST QUANTUM MINERALS ANNOUNCES 2013 PRODUCTION AND SALES
First Quantum Minerals Ltd. ("First Quantum", TSX Symbol "FM", LSE Symbol "FQM") today announced its production and sales for the three months and year ended December 31, 2013. Production for the year of copper, nickel, gold and zinc met the upper end of the Company's previously-announced market guidance.
Fourth Quarter 2013 Highlights
· Total copper production increased 35% to 114,791 tonnes over Q4 2012
- Record quarter production of 72,602 tonnes at Kansanshi
- Contribution of 29,306 tonnes from the acquired Las Cruces, Çayeli and Pyhäsalmi operations
· Total nickel production increased 25% to 12,634 tonnes
- Record quarter production of 10,244 tonnes at Ravensthorpe
- Contribution of 2,390 tonnes from Kevitsa
· Addition of zinc to the production base from the acquired Çayeli and Pyhäsalmi operations
· Substantial platinum and palladium production
- Platinum and palladium production of 7,993 ounces and 6,600 ounces, respectively from Kevitsa
· Strongly higher sales volumes
- Limited local smelting capacity in Zambia however, did continue to impact Kansanshi's sales volumes of copper concentrate and gold
Fourth Quarter and Year 2013 Production Summary
GROUP | Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Copper (tonnes) | 114,791 | 84,918 | +35% | 412,281 | 307,115 | +34% | |
Nickel (contained tonnes) | 12,634 | 10,096 | +25% | 47,066 | 36,759 | +28% | |
Gold (ounces) | 63,199 | 64,383 | -2% | 248,078 | 201,942 | +23% | |
Zinc (tonnes) | 15,393 | n/a | n/a | 49,933 | n/a | n/a | |
Platinum (ounces) | 7,993 | 6,123 | +31% | 30,403 | 13,808 | +120% | |
Palladium (ounces) | 6,600 | 5,419 | +22% | 24,639 | 12,183 | +102% |
Fourth Quarter and Year 2013 Sales Summary
GROUP | Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Copper (tonnes) | 95,598 | 77,570 | +23% | 386,057 | 295,466 | +31% | |
Nickel (contained tonnes) | 13,795 | 8,081 | +71% | 49,105 | 30,379 | +62% | |
Gold (ounces) | 50,399 | 61,350 | -18% | 228,962 | 202,303 | +13% | |
Zinc (tonnes) | 17,866 | n/a | n/a | 51,925 | n/a | n/a | |
Platinum (ounces) | 11,375 | 3,709 | +207% | 28,930 | 7,775 | +272% | |
Palladium (ounces) | 8,167 | 3,500 | +133% | 23,420 | 7,181 | +226% |
Fourth Quarter and Year 2013 Production and Sales Summaries by Mine
KANSANSHI | Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Production | |||||||
Copper (tonnes) | 72,602 | 70,431 | +3% | 270,724 | 261,351 | +4% | |
Gold (ounces) | 43,508 | 45,410 | -4% | 167,395 | 136,056 | +23% | |
Sales | |||||||
Copper (tonnes) | 57,692 | 61,758 | -7% | 248,746 | 249,884 | - | |
Gold (ounces) | 36,844 | 38,179 | -3% | 152,632 | 131,159 | +16% |
LAS CRUCES | Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Production | |||||||
Copper (tonnes) | 18,346 | 17,302 | +6% | 69,304 | 67,662 | +2% | |
Sales | |||||||
Copper (tonnes) | 16,883 | 17,394 | -3% | 66,806 | 68,838 | -3% |
GUELB MOGHREIN | Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Production | |||||||
Copper (tonnes) | 8,866 | 11,038 | -20% | 37,970 | 37,670 | +1% | |
Gold (ounces) | 13,336 | 16,802 | -21% | 58,191 | 60,519 | -4% | |
Sales | |||||||
Copper (tonnes) | 6,327 | 13,007 | -51% | 36,585 | 40,174 | -9% | |
Gold (ounces) | 8,281 | 20,864 | -60% | 56,040 | 67,089 | -16% |
ÇAYELI
| Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Production | |||||||
Copper (tonnes) | 7,538 | 7,024 | +7% | 31,510 | 31,396 | - | |
Zinc (tonnes) | 9,837 | 11,062 | -11% | 43,097 | 40,692 | +6% | |
Sales | |||||||
Copper (tonnes) | 7,940 | 5,088 | +56% | 31,370 | 33,215 | -6% | |
Zinc (tonnes) | 12,179 | 10,019 | +22% | 43,354 | 39,955 | +9% |
KEVITSA | Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Production | |||||||
Nickel (contained tonnes) | 2,390 | 1,870 | +28% | 8,963 | 3,875 | +131% | |
Copper (tonnes) | 4,015 | 3,448 | +16% | 14,775 | 8,094 | +83% | |
Gold (ounces) | 3,008 | 2,172 | +38% | 11,723 | 5,367 | +118% | |
Platinum (ounces) | 7,993 | 6,123 | +31% | 30,403 | 13,808 | +120% | |
Palladium (ounces) | 6,600 | 5,419 | +22% | 24,639 | 12,183 | +102% | |
Sales | |||||||
Nickel (contained tonnes) | 3,652 | 792 | +361% | 8,493 | 1,640 | +418% | |
Copper (tonnes) | 2,938 | 2,805 | +5% | 12,652 | 6,448 | +96% | |
Gold (ounces) | 1,182 | 2,306 | -49% | 7,358 | 4,757 | +55% | |
Platinum (ounces) | 11,375 | 3,709 | +207% | 28,930 | 7,775 | +272% | |
Palladium (ounces) | 8,166 | 3,500 | +133% | 23,420 | 7,181 | +226% |
PYHÄSALMI
| Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Production | |||||||
Copper (tonnes) | 3,422 | 3,273 | +5% | 14,854 | 12,610 | +18% | |
Zinc (tonnes) | 5,556 | 9,660 | -42% | 21,679 | 25,637 | -15% | |
Sales | |||||||
Copper (tonnes) | 3,819 | 3,237 | +18% | 15,221 | 13,407 | +14% | |
Zinc (tonnes) | 5,687 | 8,984 | -37% | 22,339 | 25,101 | -11% |
RAVENSTHORPE
| Q4 2013 | Q4 2012 | % Change | Year 2013 | Year 2012 | % Change | |
Production | |||||||
Nickel (contained tonnes) | 10,244 | 8,227 | +25% | 38,103 | 32,884 | +16% | |
Sales | |||||||
Nickel (contained tonnes) | 10,142 | 7,288 | +39% | 40,612 | 28,738 | +41% |
Notes: Production and sales numbers are preliminary and subject to final adjustment. Group numbers include production and sales results from Las Cruces, Çayeli and Pyhäsalmi from March 22, 2013, the date of acquisition.
Production and sales numbers for Las Cruces, Çayeli and Pyhäsalmi for Year 2013 are on a pro-forma full year basis.
Further information will be published in the Company's report on operating and financial results for the three months and year which is scheduled for release on February 20, 2014.
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 website at www.first-quantum.com
North American contact: Sharon Loung, Director, Investor RelationsTel: (647) 346-3934 Fax: (604) 688-3818 Toll Free: 1 (888) 688-6577 E-Mail: sharon.loung@fqml.com United Kingdom contact: Clive Newall, PresidentTel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: clive.newall@fqml.com
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