First Quantum Minerals Reports Third Quarter 2009
October 19, 2009 8:01 AM EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2009) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM)(LSE: FQM) today reported copper production of 93,500 tonnes for the third quarter and 275,300 for the first nine months of 2009. These production levels exceed those of the equivalent 2008 periods by 14% and 15%, respectively.
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Third Quarter Nine Months
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Operation 2009 2008 2009 2008
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(tonnes)
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Kansanshi 61,300 53,400 182,500 153,300
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Guelb Moghrein 7,400 8,500 24,800 24,900
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Frontier 24,800 18,700 68,000 55,300
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Bwana Mkubwa - 1,600 - 5,300
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Total 93,500 82,200 275,300 238,800
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Stockpiles of copper concentrate at September 30, 2009 decreased 30% to approximately 25,500 tonnes of copper in concentrate (Kansanshi 21,900 tonnes, Frontier 3,100 tonnes and Guelb Moghrein 500 tonnes) from the June 30, 2009 level. A 35% decrease in the Kansanshi stockpile reflects a full quarter of export shipments following the receipt, on May 18, 2009, of a government exemption on the 15% concentrate export levy.
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 of First Quantum Minerals Ltd.
G. Clive Newall, President