London, England — MININGREVIEW.COM — 14 April 2008 – First Quantum Minerals Limited (FQM) – an emerging mining and metals company, and one of the faster growing copper producers in Africa – has posted record copper production of 75 600 tonnes at its Zambian and Mauritanian operations in the first quarter of 2008.
A production report released here confirms that January-to-March output this year was 63% above that for the first quarter of 2007, and constituted a company record.
Company production was dominated by Kansanshi mine, in north-west Zambia, with a total of 52 300 tonnes, followed by the Frontier mine in the Democratic Republic of Congo (DRC) with 13 400 tonnes. Next was the Guelb Moghrein operation in Mauritania with 7 700 tonnes, and finally Bwana Mkubwa in Zambia with 2 200 tonnes.
First Quantum adds that stockpiles of copper concentrate at the end of the first quarter totalled approximately 31 000 tonnes of copper in concentrate (Kansanshi 14000 tonnes, Frontier 16 000 tonnes and Guelb Moghrein 1 000 tonnes) – an increase of just under 70% over 2007 year-end inventories, which amounted to 18 296 tonnes.
The report concludes with a reminder that further information will be published shortly in the company’s first quarter operating and financial results.