FQM.L Regulatory News (FQM)

18 Mar 2005 15:48

First Quantum Minerals Ld18 March 2005 NEWS RELEASE 05-03 March 18, 2005 www.first-quantum.com FIRST QUANTUM MINERALS ESTABLISHES DIVIDEND POLICY -DECLARES INAUGURAL DIVIDEND OF CDN $0.06 PER SHARE- First Quantum Minerals Ltd. (TSX Symbol "FM", LSE Symbol "FQM") announces thatit will pay an inaugural dividend of Canadian $0.06 per share in respect of theyear ended December 31. 2004. The dividend will be paid on April 25, 2005 toshareholders of record on April 11, 2005. In addition the Company has established a dividend policy which implements aprogressive dividend with future payments established in line with annualresults and cash flow. Under this policy, the Company expects to pay twodividends a year, an interim dividend declared after the release of the secondquarter results and a final dividend will be declared upon announcement of thefull year results. The interim dividend will be set at one-third of the totaldividends paid in the previous financial year. The final dividend amount will bedetermined subject to the financial performance of the Company. Philip Pascall, Chairman and CEO commented, "The adoption of the dividend policyhas been made possible by a strong cash flow and net profit in 2004, as well asthe positive outlook for the Company, in particular the Kansanshi copper-goldmine in Zambia. Our dividend policy will be guided by a balanced allocation offree cash flow for the financing of our development projects and distribution toshareholders." On Behalf of the Board of Directors 12g3-2b-82-4461of First Quantum Minerals Ltd. Listed in Standard and Poor's"Philip Pascall" Sedar Profile #00006237Philip PascallChairman & CEO For further information visit our web site at www.first-quantum.com United Kingdom contact: Clive Newall, President1st 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: clive.newall@first-quantum.com. or Carina Corbett, 4C Communications Ltd, Tel: + 44 20 7907 4761 North American contact: Geoff Chater or Bill Iversen Suite 450-800 West Pender Street, Vancouver, British Columbia, Canada V6C 2V6 Tel: (604) 688-6577 Fax: (604) 688-3818 Toll Free: 1 (888) 688-6577 E-Mail: info@first-quantum.com This information is provided by RNS The company news service from the London Stock Exchange