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First Quantum Minerals Announces 2012 Production and 2013

First Quantum Minerals Announces 2012 Production and 2013 Outlook 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/22/13 -- First
Quantum Minerals Ltd. (TSX:FM)(LSE:FQM) ("First Quantum") today
announced increases in copper production of 26% for the fourth
quarter and 16% for the year ended December 31, 2012. The Company
also provided its outlook for the full year 2013. 


 
Fourth Quarter 2012 Highlights
 
--  Total copper production increased 26% to 84,918 tonnes over Q4 2011 
    --  Higher sulphide grades processed and higher throughput as a result
        of the continued expansion of the oxide circuit at Kansanshi 
    --  Increased production as a result of higher throughput at Guelb
        Moghrein 
    --  The first full quarter of commercial operations at Kevitsa with the
        contribution of 3,448 tonnes
 
--  Total nickel production of 10,096 tonnes 
    --  Steady operations at Ravensthorpe in its first full year of
        commercial operations 
    --  Contribution of 1,870 tonnes from Kevitsa
 
--  Total gold production of 64,383 ounces was 48% higher than Q4 2011 
    --  Higher as a result of improved grade and recovery rates at Kansanshi
    --  Contribution of 2,172 ounces from Kevitsa
 
--  Addition of platinum and palladium to the production base 
    --  Total platinum production of 6,123 ounces and total palladium
        production of 5,419 ounces from Kevitsa
 
Fourth Quarter and Year 2012 Production Summary
 
--------------------------------------------------    ----------------------
                                  Q4     Q4      %       Year    Year      %
GROUP                           2012   2011 Change       2012    2011 Change
--------------------------------------------------    ----------------------
Copper production (tonnes)    84,918 67,316    26%    307,115 265,576    16%
--------------------------------------------------    ----------------------
Nickel production (contained  10,096  5,666    78%     36,759   5,666   549%
 tonnes)                                                                    
--------------------------------------------------    ----------------------
Gold production (ounces)      64,383 43,524    48%    201,942 175,225    15%
--------------------------------------------------    ----------------------
Platinum production (ounces)   6,123      -     na     13,808       -     na
--------------------------------------------------    ----------------------
Palladium production (ounces)  5,419      -     na     12,183       -     na
--------------------------------------------------    ----------------------
 
Year 2013 Production Outlook
 
----------------------------------------------------------------------------
                                      Group Kansanshi Guelb Moghrein Kevitsa
----------------------------------------------------------------------------
Copper production ('000 tonnes)   302 - 330 250 - 270        37 - 41 15 - 19
----------------------------------------------------------------------------
Gold production ('000 ounces)     190 - 215 126 - 140        52 - 61 12 - 14
----------------------------------------------------------------------------
 
----------------------------------------------------------------------------
                                                Group  Ravensthorpe  Kevitsa
----------------------------------------------------------------------------
Nickel production ('000 contained tonnes)     40 - 45       31 - 35    9 -10
----------------------------------------------------------------------------
 
Expected average cash cost of approximately; $1.50 to $1.60 per pound of
copper.
Expected average cash cost of approximately; $5.50 to $6.00 per pound of
nickel.
 
Fourth Quarter and Year 2012 Production Summary by Mine
 
--------------------------------------------------    ----------------------
                                  Q4     Q4      %       Year    Year      %
KANSANSHI                       2012   2011 Change       2012    2011 Change
--------------------------------------------------    ----------------------
Copper production (tonnes)    70,431 59,163    19%    261,351 230,295    13%
--------------------------------------------------    ----------------------
Gold production (ounces)      45,410 29,580    54%    136,056 112,286    21%
--------------------------------------------------    ----------------------
 
--------------------------------------------------    ----------------------
                                  Q4     Q4      %       Year    Year      %
GUELB MOGHREIN                  2012   2011 Change       2012    2011 Change
--------------------------------------------------    ----------------------
Copper production (tonnes)    11,038  8,155    35%     37,670  35,281     7%
--------------------------------------------------    ----------------------
Gold production (ounces)      16,802 13,943    21%     60,519  62,938   (4%)
--------------------------------------------------    ----------------------
 
--------------------------------------------------    ----------------------
                                  Q4     Q4      %       Year    Year      %
RAVENSTHORPE                    2012   2011 Change       2012    2011 Change
--------------------------------------------------    ----------------------
Nickel production (contained   8,227  5,666    45%     32,884   5,666   480%
 tonnes)                                                                    
--------------------------------------------------    ----------------------
 
--------------------------------------------------    ----------------------
                                  Q4     Q4      %       Year    Year      %
KEVITSA                         2012   2011 Change       2012    2011 Change
--------------------------------------------------    ----------------------
Nickel production (contained   1,870      -     na      3,875       -     na
 tonnes)                                                                    
--------------------------------------------------    ----------------------
Copper production (tonnes)     3,448      -     na      8,094       -     na
--------------------------------------------------    ----------------------
Gold production (ounces)       2,172      -     na      5,367       -     na
--------------------------------------------------    ----------------------
Platinum production (ounces)   6,123      -     na     13,808       -     na
--------------------------------------------------    ----------------------
Palladium production (ounces)  5,419      -     na     12,183       -     na
--------------------------------------------------    ----------------------
 
Note: Production numbers are preliminary and subject to final adjustment.

 
Further information will be published in the Company's report on
operating and financial results for the quarter which is scheduled
for release during the week of March 6, 2013. 
Forward-Looking Information 
Certain statements and information herein, including all statements
that are not historical facts, contain forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The forward looking statements include estimates,
forecasts and statements as to the Company's expectations of
production and sales volumes at Kansanshi, Guelb Moghrein,
Ravensthorpe and Kevitsa, the expected timing of completion of
project development, the impact of ore grades on future production,
the potential of production disruptions, ca
pital expenditure and mine
production costs, the outcome of mine permitting, the outcome of
legal proceedings which involve the Company, information with respect
to the future price of copper, gold, cobalt, nickel, PGE, and
sulphuric acid, estimated mineral reserves and mineral resources, our
exploration and development program, estimated future expenses,
exploration and development capital requirements, the Company's
hedging policy, and our goals and strategies. Often, but not always,
forward-looking statements or information can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate" or "believes" or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or "will"
be taken, occur or be achieved. 
With respect to forward-looking statements and information contained
herein, we have made numerous assumptions including among other
things, assumptions about the price of copper, gold, nickel, PGE,
cobalt and sulphuric acid, anticipated costs and expenditures and our
ability to achieve our goals. Although our management believes that
the assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that a forward-looking statement or information herein will prove to
be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or industry results, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements or
information. These factors include, but are not limited to, future
production volumes and costs, costs for inputs such as oil, power and
sulphur, political stability in Zambia, Mauritania, Finland and
Australia, adverse weather conditions in Zambia, Finland, Australia,
and Mauritania, labour disruptions, mechanical failures, water
supply, procurement and delivery of parts and supplies to the
operations, the production of off-spec material. 
See our Annual Information Form for additional information on risks,
uncertainties and other factors relating to the forward-looking
statements and information. Although we have attempted to identify
factors that would cause actual actions, events or results to differ
materially from those disclosed in the forward-looking statements or
information, there may be other factors that cause actual results,
performances, achievements or events not to be anticipated, estimated
or intended. Also, many of these factors are beyond our control.
Accordingly, readers should not place undue reliance on
forward-looking statements or information. We undertake no obligation
to reissue or update forward-looking statements or information as a
result of new information or events after the date hereof except as
may be required by law. All forward-looking statements and
information made herein are qualified by this cautionary statement. 
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 or Toll Free: 1 (888) 688-6577
(604) 688-3818 (FAX)
sharon.loung@fqml.com 
First Quantum Minerals Ltd. - United Kingdom Contact
Clive Newall
President
+44 140 327 3484
+44 140 327 3494 (FAX)
clive.newall@fqml.com
www.first-quantum.com 
Media: Harmony Communications
Brian Cattell
Senior Partner
+44 20 7016 9155 or +44 7786 241 145
 
 
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