First Quantum Minerals Announces Its 2016 Production and Sales
TORONTO, ONTARIO--(Marketwired - Jan. 26, 2017) - First Quantum Minerals Ltd. ("First Quantum" or the "Company")(TSX:FM) today announced its production and sales for the three months and year ended December 31, 2016.
Total production and sales, for all periods in this document, are shown for continuing operations only and therefore exclude the Kevitsa mine which was sold on June 1, 2016.
Total copper production for the year 2016, including Sentinel, exceeded previously-announced market guidance and year 2015 by 5% and 31%, respectively.
Amounts shown for Q4 and Year 2016 are preliminary and subject to final adjustment. Final amounts will be published in the Company's financial results for Q4 and year 2016 scheduled for release on February 16, 2017.
FOURTH QUARTER AND FULL YEAR PRODUCTION AND SALES SUMMARY
| Production | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 |
| Copper (tonnes)1 | 146,101 | 115,885 | 539,458 | 411,025 |
| Nickel (contained tonnes) | 6,205 | 7,653 | 23,624 | 26,668 |
| Gold (ounces) | 54,234 | 53,889 | 214,012 | 211,067 |
| Zinc (tonnes) | 11,084 | 9,605 | 28,862 | 41,139 |
| 1 Includes production from Sentinel of 47,785 tonnes for Q4 2016 (Q4 2015: 15,190 tonnes) and 139,600 tonnes for the year 2016 (2015 year: 32,971 tonnes). A portion of Sentinel's production in Q4 2016 is expected to be commercial (2015: All pre-commercial). | ||||
| Sales | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 |
| Copper (tonnes)2 | 136,265 | 119,534 | 535,613 | 391,653 |
| Nickel (contained tonnes) | 6,073 | 8,584 | 25,882 | 26,934 |
| Gold (ounces) | 45,620 | 57,958 | 232,783 | 213,927 |
| Zinc (tonnes) | 11,971 | 11,036 | 27,361 | 41,618 |
| 2 Includes sales from Sentinel of 39,494 tonnes for Q4 2016 (Q4 2015: 6,422 tonnes) and 115,782 tonnes for the year 2016 (2015 year: 8,896 tonnes). A portion of Sentinel's sales in Q4 2016 is expected to be commercial (2015: All pre-commercial). | ||||
FOURTH QUARTER AND FULL YEAR PRODUCTION AND SALES SUMMARIES BY OPERATION
| Kansanshi | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Copper (tonnes) | 65,949 | 61,600 | 253,272 | 226,674 | |
| Gold (ounces) | 40,331 | 34,009 | 148,220 | 136,257 | |
| Sales | |||||
| Copper (tonnes) | 64,905 | 77,845 | 268,459 | 230,193 | |
| Gold (ounces) | 30,593 | 38,664 | 156,840 | 131,972 | |
| Las Cruces | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Copper (tonnes) | 17,156 | 18,608 | 73,643 | 70,029 | |
| Sales | |||||
| Copper (tonnes) | 15,656 | 16,884 | 73,539 | 70,566 | |
| Guelb Moghrein | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Copper (tonnes) | 6,078 | 11,845 | 32,818 | 45,001 | |
| Gold (ounces) | 11,140 | 17,145 | 53,951 | 64,007 | |
| Sales | |||||
| Copper (tonnes) | 5,840 | 11,228 | 36,330 | 47,322 | |
| Gold (ounces) | 11,958 | 16,667 | 63,335 | 70,680 | |
| Çayeli | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Copper (tonnes) | 5,741 | 5,606 | 25,330 | 24,304 | |
| Gold (ounces) | 772 | 1,015 | 3,418 | 4,034 | |
| Zinc (tonnes) | 1,610 | 3,778 | 8,062 | 19,808 | |
| Sales | |||||
| Copper (tonnes) | 7,257 | 4,262 | 26,795 | 22,401 | |
| Gold (ounces) | 1,235 | 989 | 4,228 | 4,379 | |
| Zinc (tonnes) | 2,386 | 4,848 | 6,825 | 19,479 | |
| Pyhäsalmi | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Copper (tonnes) | 3,392 | 3,035 | 14,795 | 12,046 | |
| Gold (ounces) | 1,991 | 1,719 | 8,423 | 6,768 | |
| Zinc (tonnes) | 9,474 | 5,827 | 20,800 | 21,331 | |
| Sales | |||||
| Copper (tonnes) | 3,114 | 2,892 | 14,708 | 12,276 | |
| Gold (ounces) | 1,834 | 1,637 | 8,380 | 6,895 | |
| Zinc (tonnes) | 9,584 | 6,188 | 20,536 | 22,139 | |
| Sentinel | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Copper (tonnes) | 47,785 | 15,190 | 139,600 | 32,971 | |
| Sales | |||||
| Copper (tonnes) | 39,494 | 6,422 | 115,782 | 8,896 | |
| Ravensthorpe | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Nickel (contained tonnes) | 6,205 | 7,653 | 23,624 | 26,668 | |
| Sales | |||||
| Nickel (contained tonnes) | 6,073 | 8,583 | 25,882 | 26,933 | |
DISCONTINUED OPERATIONS PRODUCTION AND SALES SUMMARY
The year 2016 figures cover the period January 1, 2016 to the date of disposal, June 1, 2016. The year 2015 figures cover the entire calendar year.
| Kevitsa | Q4 2016 | Q4 2015 | Year 2016 | Year 2015 | |
| Production | |||||
| Nickel (contained tonnes) | - | 2,538 | 3,657 | 8,805 | |
| Copper (tonnes) | - | 4,307 | 6,353 | 17,204 | |
| Gold (ounces) | - | 3,631 | 5,068 | 12,847 | |
| Platinum (ounces) | - | 10,185 | 12,991 | 31,899 | |
| Palladium (ounces) | - | 8,062 | 10,426 | 25,196 | |
| Sales | |||||
| Nickel (contained tonnes) | - | 2,611 | 2,954 | 9,421 | |
| Copper (tonnes) | - | 5,020 | 5,874 | 17,081 | |
| Gold (ounces) | - | 3,413 | 3,758 | 11,539 | |
| Platinum (ounces) | - | 11,847 | 11,495 | 34,866 | |
| Palladium (ounces) | - | 9,231 | 8,566 | 26,451 | |
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
Contact
North American contact:
Sharon Loung
Director, Investor Relations
(604) 688-3818
(647) 346-3934
Toll Free: 1 (888) 688-6577
sharon.loung@fqml.com
United Kingdom contact:
Clive Newall
President
+44 140 327 3494
+44 140 327 3484
clive.newall@fqml.com
www.first-quantum.com