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First Quantum Q2 output falls

By: Liezel Hill First Quantum Minerals produced 64 500 t of copper in the second quarter, a 24% decline compared with a year earlier, after both operating mines suffered maintenance interruptions and the company's Kansanshi mine processed lower-grade oxide ore during the quarter. Gold production also declined... 

First Quantum plans 5-for-1 stock split

By: Liezel Hill TSX- and LSE-listed First Quantum Minerals will ask shareholder to vote on a proposed five-for-one share split, the company said on Friday. The split has been approved by the board, and First Quantum plans to hold a special meeting of shareholders on July 29, with a target record date for the... 

Latest pump offering proves itself

The latest pump offering from slurry equipment solutions provider Weir Minerals, the Warman Mill Circuit (MC) slurry pump, has been trialled at a number of mines in West and Central Africa and has recorded significant success in increasing mill throughput capacity and doubling the lifespan of... 

First Quantum profit rises on copper price

By: Liezel Hill Copper miner First Quantum Minerals increased first-quarter profit by 37%, after higher copper prices more than made up for lower production during the period. Copper production and sales were lower year-over-year, after the government of the Democratic Republic of Congo forced the company to... 

First Quantum Q1 copper output slides on DRC woes

By: Matthew Hill First Quantum Minerals produced 12% less copper in the first quarter of 2011 than the same period the year before, mainly because of the Democratic Republic of Congo’s government closure of the Frontier mine, the TSX-listed company said on Tuesday. First Quantam’s Zambian operations and... 

First Quantum rises after updating projects, growth plans

By: Liezel Hill Shares in Canada's second-biggest publicly traded copper producer, First Quantum Minerals, rose 6,8% on Wednesday, a day after the firm published an update on its expansion and development projects, including plans for a new 250 000 t/y mine in Zambia. Raymond James analyst Tom Meyer wrote in a... 

First Quantum reports lower copper and gold output

By: Petronel Smit TSX- and LSE-listed First Quantum Minerals on Thursday reported decrease in full-year output, with copper production amounting to 322 700 t and gold output to 191 400 oz. In 2009, the company produced 373 940 t of copper and 193 288 oz of gold and initially anticipated to produce 385 000 t of... 

First Quantum raises capex for Ravensthorpe revamp, restart

By: Liezel Hill Base-metals producer First Quantum Minerals now expects to spend $190-million to refurbish and restart the Ravensthorpe nickel mine in Australia, president Clive Newall said on Wednesday. The company had previously forecast capital for the project at $150-million, but has identified a number of... 

First Quantum reviews arbitration orders

By: Liezel Hill Reports that First Quantum Minerals lost an arbitration case against the Democratic Republic of Congo over its Kolwezi tailings project are "completely untrue", a First Quantum spokesperson said on Tuesday. First Quantum has filed for two separate cases against the DRC government, first to... 

First Quantum Q3 copper output falls

By: Liezel Hill Vancouver-based First Quantum Minerals produced 18% less copper in the third quarter compared with a year earlier, after the DRC government told the company to withdraw from its Frontier mine. Output was also affected by a four-day shutdown of the sulphide circuit at the Kansanshi mine in Zambia... 

DRC threatens probe as First Quantum dispute escalates  

By: Chanel de Bruyn Democratic Republic of Congo (DRC) Minister of Mines Martin Kabwelulu Labilo said on Tuesday that the government planned to investigate suspected financial misconduct by Canada-based First Quantum Minerals. Spokesperson for the DRC government, Ambassador Bene M’Poko, told Mining Weekly Online... 

DRC withdraws permit for First Quantum's Frontier mine 

By: Chanel de Bruyn Base-metals-miner First Quantum has suspended operations at its Frontier mine, in the Democratic Republic of Congo (DRC), after the DRC mining registry withdrew the mine’s exploitation permit. Further, the miner had also received a letter stating that DRC government-owned company Sodimico had... 

First mill circuit pump supplied in Africa

By: Tracy Hancock The first Warman MCR mill circuit pump supplied in Africa is currently pumping mill discharge slurry at mining company First Quantum Minerals’ Frontier copper mine, in the Democratic Republic of Congo, on a trial basis. The negotiations to supply the pump started in November 2008, with the... 

First Quantum says DRC arbitration could take years

By: Matthew Hill Vancouver-based First Quantum Minerals (FQM) expects its arbitration with the Democratic Republic of Congo (DRC) government over the rights to a copper mine could take years to resolve. Speaking on a conference call on Wednesday, FQM president Clive Newall said that there would be a hearing in... 

First Quantum reports lower Q2 output, cuts FY target

By: Liezel Hill Vancouver-based First Quantum Minerals produced less copper in the second quarter because of a decision to curtail capital investment at its Frontier mine, in the Democratic Republic of Congo, and has lowered its output forecast for 2010 by 6,5%, the firm said on Tuesday. First Quantum produced... 

First Quantum sees DRC ruling as retaliation to Kolwezi arbitration

By: Chanel de Bruyn Copper-miner First Quantum Minerals on Monday defended its mining rights for the Lonshi and Frontier copper mines, in the Democratic Republic of Congo (DRC), describing the latest challenge to its licences as an “orchestrated attack” in retaliation to its decision to start international... 

First Quantum posts $491,6m Q4 loss

By: Liezel Hill TSX- and LSE-listed First Quantum Minerals reported a net loss of $491,6-million for the last three months of 2008, compared with a $135,3-million profit a year earlier, after sharp declines in copper prices ate into earnings. As expected, the firm took a $254,2-million impairment charge on... 

First Quantum tightens its belt, but still sees output growth

By: Liezel Hill TSX- and LSE-listed First Quantum Minerals will reduce capital spending, curtail exploration, review its dividend policy and slice into salaries, in a bid to conserve cash amid low copper prices, but still expects to increase its production of copper and gold in 2009. First Quantum, which... 

Growth encouraged despite economic crisis

By: Jonathan Faurie Companies need to look beyond cautionary measures and continue strategic growth into new markets, despite the current global economic crisis, reports diversified consulting engineering firm TWP Consulting CEO Digby Glover. 

First Quantum’s Q2 profit up on strong prices, higher sales volumes

By: Christy van der Merwe LSE- and TSX-listed First Quantum Minerals, which operates in the Democratic Republic of Congo (DRC), Zambia and Mauritania, second-quarter profit has increased by 69% to $208-million, it reported this week. Earnings a share for the three-month period ended June 30 rose by 67% to $3,06 a share,... 

First Quantum sees 37% growth in copper output this year

By: Jade Davenport TSX-listed emerging miner First Quantum Minerals said it was pursuing an aggressive copper production expansion programme that would see its output rising by 37% to 310 000 t/y this year, and by almost 86% to 421 000 t/y over the medium term. 

First Quantum sees 37% growth in copper output this year

By: Jade Davenport TSX-listed emerging miner First Quantum Minerals said it was pursuing an aggressive copper production expansion programme that would see its output rising by 37% to 310 000 t/y this year, and by almost 86% to 421 000 t/y over the medium term. 

First Quantum expects 37% output growth this year

By: Liezel Hill Vancouver-based copper-miner First Quantum Minerals expects 2008 production to increase by about 37% over last year, to 310 000 t, the firm said on Tuesday. 

DRC blocked copper shipments to Zambia - First Quantum

By: Liezel Hill Democratic Republic of Congo (DRC) focused copper-miner First Quantum Minerals will soon begin transporting copper concentrate from its Frontier mine to smelter facilities in Zambia, after a government order halted the shipments last month, the company said on Wednesday.  

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