First Quantum Minerals Announces Successful Completion of Offer: 92.74% of Inmet Shares Tendered

First Quantum Minerals Announces Successful Completion of Offer: 92.74% of 
Inmet Shares Tendered 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/02/13 -- First
Quantum Minerals Ltd. ("First Quantum" or the "Company")
(TSX:FM)(LSE:FQM) and its wholly-owned subsidiary FQM (Akubra) Inc.
(together, the "Offeror") today announced that, as at 5:00 p.m.
(Eastern Daylight Time) on April 1, 2013, a total of 65,206,044
common shares of Inmet Mining Corporation ("Inmet", TSX Symbol
"IMN"), representing 92.74% of the outstanding Inmet shares (on a
fully diluted basis), had been validly tendered to the Offeror's
offer (the "Offer") to acquire all of the outstanding shares of
Inmet. The Offeror has taken up and accepted for payment all shares
tendered between March 21 and April 1, 2013 and will pay for such
shares on or before April 5, 2013. Shares tendered on or before March
21, 2013 were previously taken up and paid for by the Offeror. 
Inmet shareholders who tendered their shares between March 21 and
April 1 and who elected: (a) the cash and share alternative will
receive $36.00 in cash and 1.6484 common shares of First Quantum per
Inmet share; (b) the share alternative will receive 3.2967 common
shares of First Quantum per Inmet share; and (c) the cash alternative
will receive $36.62 in cash and 1.6199 common shares of First
Quantum, subject in each case to adjustment for fractional shares and
to confirmation of the number of Inmet shares validly tendered
pursuant to Notices of Guaranteed Delivery.  
As the Offer has now expired, the Offeror will proceed to acquire the
balance of the Inmet shares not tendered to the Offer by way of
Compulsory Acquisition, as more fully described in the Offer
circular. A Notice of Compulsory Acquisition is expected to be mailed
in the coming days to Inmet shareholders who did not tender their
shares to the Offer. Shareholders are encouraged to carefully review,
complete and return the Notice of Compulsory Acquisition, together
with the certificates representing their Inmet shares, in accordance
with the instructions included in the Notice of Compulsory
Acquisition so as to receive payment for their shares as soon as
possible. 
Commenting upon the Offer's successful completion, Philip Pascall,
First Quantum's Chairman and Chief Executive Officer, said: 
"We are delighted that our Offer was met with such overwhelming
acceptance by Inmet shareholders. We wish to once again thank them
for their tremendous support throughout the course of our Offer and
to welcome them as new shareholders of First Quantum. We look forward
to a bright future in which, together, we turn our vision of a new
global copper leader into a reality." 
Bankers, Advisors and Information Agent 
First Quantum engaged Jefferies International, Goldman, Sachs & Co.,
and RBC Capital Markets to act as its financial advisors in
connection with the Offer. Fasken Martineau DuMoulin LLP acted as
legal counsel to First Quantum in connection with the Offer.  
Financing for the Offer is being provided by Standard Chartered Bank. 
Georgeson Shareholder Communications Canada, Inc. has been retained
as information agent for the Offer. Shareholders may contact
Georgeson at: 


 
Toll Free (North America): 1-866-656-4120
Outside North America Call Collect: 1-781-575-2421
Email: askus@georgeson.com

 
About First Quantum 
First Quantum is a leading international mining company with a global
portfolio of copper and nickel assets located in Africa, Australia,
South America and Europe. For the twelve months ended December 31,
2012, First Quantum generated revenue and adjusted EBITDA of US$2,950
million and US$1,143 million respectively and produced 307 kt of
copper, 38 kt of nickel and 202 koz of gold. A diverse portfolio of
profitable operating assets and quality growth projects makes First
Quantum one of the fastest-growing mining companies in the world.
First Quantum is listed on the Toronto, London and Lusaka Stock
Exchanges, with a market capitalization of approximately US$10
billion, prior to giving effect to completion of the Offer. 
First Quantum has earned a strong reputation as an industry leading
developer of high-quality base metals projects globally. Although a
significant copper producer currently, First Quantum is itself in a
phase of transformational growth, with an anticipated tripling of
copper production by the end of 2018. To achieve this growth, the
First Quantum team is building on its significant experience in
project development, with a proven record of successfully developing
resource assets. The capital intensity of our Kansanshi and Sentinel
developments, for example, at approximately US$5,000 / tonne and
US$6,000 / tonne, respectively, are among the lowest in the industry.
Importantly, First Quantum has consistently delivered superior
shareholder returns, averaging 32 percent per annum over the period
2000 to 2011. 
About Inmet 
Inmet is a Canadian-based global mining company that produces copper
and zinc. It has three wholly-owned mining operations: Cayeli
(Turkey), Las Cruces (Spain) and Pyhasalmi (Finland). It also holds
an 80 percent interest in Cobre Panama, a development property in
Panama, currently in construction. 
Forward-Looking Information 
Certain statements and information in this press release, including
all statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or information
with respect to the anticipated completion of the proposed Offer and
the anticipated strategic and operational benefits of the Offer.
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", "projects", "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
in this press release, First Quantum has made numerous assumptions
including, among other things, assumptions about the price of copper,
gold, cobalt, nickel, PGE, and sulphuric acid, and other anticipated
costs and expenditures. Although management of First Quantum believes
that the assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that any forward-looking statement or information herein will prove
to be accurate. Forward-looking statements and information by their
nature 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 risks,
uncertainties and other factors include, but are not limited to,
uncertainties surrounding the ability to realize operational
synergies following completion of the Offer, reliance on Inmet's
publicly available information which may not fully identify all risks
related to its performance, success in integrating the retail
distribution systems, and the integration of supply chain management
processes, future production volumes and costs,
 costs for inputs such
as oil, power and sulphur, political stability in Zambia, Peru,
Mauritania, Finland, Turkey, Spain, Panama and Australia, adverse
weather conditions in any of the foregoing countries, labour
disruptions, mechanical failures, water supply, procurement and
delivery of parts and supplies to the operations, and the production
of off-spec material. 
See First Quantum's 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, many of which are beyond the control of First Quantum, that
might cause actual results, performances, achievements or events to
differ from those anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on forward-looking statements
or information. 
While First Quantum may elect to update the forward-looking
statements at any time, First Quantum does not undertake to update
them at any particular time or in response to any particular event,
other than as may be required by applicable securities laws.
Investors and others should not assume that any forward-looking
statement in this press release represent management's estimate as of
any date other than the date of this press release. 
Other 
This press release does not constitute an offer to buy or an
invitation to sell, or the solicitation of an offer to buy or
invitation to sell, any of the securities of First Quantum or Inmet.
Such an offer may only be made pursuant to an offer and take-over bid
circular filed with the securities regulatory authorities in Canada.  
First Quantum has also filed with the U.S. Securities and Exchange
Commission ("SEC") a Registration Statement, which includes the offer
and take-over bid circular relating to its offer to Inmet
shareholders. FIRST QUANTUM URGES INVESTORS AND SECURITY HOLDERS TO
READ THE REGISTRATION STATEMENT, THE OFFER AND TAKE-OVER BID CIRCULAR
AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC AND
CANADIAN SECURITIES REGULATORY AUTHORITIES, BECAUSE THEY CONTAIN
IMPORTANT INFORMATION. Investors may obtain a free copy of the offer
and take-over bid circular and other documents filed by First Quantum
with the Canadian securities regulators at www.sedar.com and with the
SEC at the SEC's website at www.sec.gov. The offer and take-over bid
circular and other documents may also be obtained free of charge from
First Quantum's website at www.first-quantum.com or upon request made
to First Quantum at 8th Floor, 543 Granville Street, Vancouver,
British Columbia V6C 1X8. 
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 
Jefferies International
Peter Bacchus
Managing Director
+44 778 994 3482 
Media: Harmony International
Brian Cattell
Senior Partner
+44 20 7016 9155