First Quantum Minerals Announces Its 2014 Production and Sales and 2015 Production and Capital Expenditure Outlook
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/26/15 -- First Quantum Minerals Ltd. ("First Quantum") (TSX: FM)(LSE: FQM) today announced its production and sales for the three months and year ended December 31, 2014 and production and capital expenditure outlook for the full year 2015.
CEO'S COMMENTS
"Overall our operations performed well in 2014 recording the highest annual copper production in the Company's history. Limited local smelter capacity in Zambia persisted and affected Kansanshi's performance and sales; and a structural failure in an atmospheric leach tank at Ravensthorpe suspended operations there in mid-December. The spill from the failure was contained within the plant's protective area, there were no environmental effects or injuries and we anticipate the mine will be back in production shortly.
"2015 is an important year for First Quantum. Our smelter in Zambia is being commissioned with first anodes poured during December 2014. First concentrate was also successfully produced at Sentinel during the fourth quarter 2014. The smelter's ramp up will influence the rate of production build-up of our new Sentinel mine. This will also influence, as more acid becomes available, the level and mix of operations and unit cost of production at Kansanshi.
"The financial and commodity markets have started 2015 with high volatility on concerns about the global economy, demand for natural resources and companies' liquidity positions. As a result, our share price, along with others in the sector, has been materially affected. While we have high confidence in the mid to long-term outlook for copper, we are mindful of the current concerns. As always, we pay close attention to the Company's financial position to make sure there is sufficient flexibility despite having an active project development pipeline. At Cobre Panama, we have substantially reduced the planned capital expenditure for 2015 to $600 million without compromising the project's progress. We also maintain strong and supportive relationships with our principal banks that have worked with us throughout the development of the Company and through several economic and commodity cycles," noted Philip Pascall, First Quantum's CEO and Chairman.
FULL YEAR 2014 HIGHLIGHTS
Notes:
Production and sales numbers are preliminary and subject to final adjustment.
Production and sales numbers for Las Cruces, Cayeli and Pyhasalmi for Year 2013 are on a pro-forma full year basis.
FULL YEAR 2015 OUTLOOK
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
12g3-2b-82-4461
Listed in Standard and Poor's
Contacts:
First Quantum Minerals Ltd. - North American contact:
Sharon Loung
Director, Investor Relations
(647) 346-3934
(604) 688-3818 (FAX)
Toll Free: 1 (888) 688-6577
First Quantum Minerals Ltd. - United Kingdom contact:
Clive Newall
President
+44 140 327 3484
+44 140 327 3494 (FAX)
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Datum: 27.01.2015 - 03:34 Uhr
Sprache: Deutsch
News-ID 366979
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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