Name: Kevitsa mine.

Location: The Kevitsa mine is located about 142 km north-north-east of Rovaniemi, the capital of Finnish Lapland.

Controlling Company: First Quantum Minerals.

Brief History: The mineral rights to the Kevitsa property were acquired in 2008 and are held by a wholly owned subsidiary of First Quantum Minerals. In November 30, 2009, the company approved the development of the project. Commercial production was declared in August 2012.

Brief Description: The Kevitsa mineral property is a large nickel/ copper/platinum-group-elements (PGE) deposit, which employs large-scale electrically powered mining equipment to deliver ore to the primary gyratory crusher. The mine has an estimated life of 29 years.

Mining Method: Openpit.

Products: Nickel, copper and PGEs.

Major Infrastructure and Equipment: Processing is traditional. Mined ore is crushed in a primary crusher. The primary crusher product is screened to send the autogenous grinding (AG) mill media to stockpile, the midproduct to secondary crushing and the pebble mill media for pebble storage. The crushed ore is then ground in a combination of AG mills and a pebble mill.

Copper and nickel ore are recovered in separate flotation circuits, with each product being thickened and filtered to produce concentrates stored separately for transport. Two different concentrates are produced – a nickel/copper/PGE/gold concentrate grading close to 12% nickel and a copper/PGE/gold concentrate grading close to 28% copper.

Geology/Mineralisation: The Kevitsa deposit lies within the Baltic Shield, which underlies most of Finland. The deposit is contained within the olivine pyroxenite parts of the ultramafic zone of the Kevitsa Intrusion. The intrusion is about 3.5 km north to south by 5 km east to west and is more or less circular in outcrop and comprises ultramafic olivine pyroxenites and peridotites in the north-east, gabbro in the west and central sections and predominantly granophyre in the south. The intrusion is characterised by internal layering defined by changes in composition.

Mineralogy consists mostly of olivine and orthopyroxene. The finely disseminated sulphides are 100 mm to 500 mm in size and consist of pyrrhotite, troilite, chalcopyrite, pentlandite, cubanite, millerite and heazlewoodite.

The main ore type forms a zone up to 300 m in thickness in the centre of the deposit. It has high sulphide nickel and copper grades, significant PGE and gold contents and high nickel/sulphur, nickel/ cobalt and nickel/copper ratios. The nickel-PGE type has a higher nickel/cobalt ratio than the main type and has a tendency towards lower sulphur and copper contents.

Mineralisation outcrops on surface and an oxidised zone of a few metres above the water table have been noted.

Reserves: Total proven and probable reserves as at December 31, 2012, were 157-million tonnes, grading 0.31% nickel, 0.28% nickel sulphur, 0.41% copper, 0.12 g/t gold, 0.18 g/t palladium and 0.24 g/t platinum.

Resources: Total measured and indicated resources as at December 31, 2012, were 237.4-million tonnes, grading 0.30% nickel, 0.28% nickel sulphur, 0.41% copper, 0.12 g/t gold, 0.27 g/t palladium and 0.21% platinum.

Inferred resources were 34.8-million tonnes, grading 0.29% nickel, 0.27% nickel sulphur, 0.36% copper, 0.09 g/t gold, 0.10 g/t palladium and 0.14 g/t platinum.

Prospects: First Quantum is awaiting approval from authorities of its environmental assessment and application to increase the plant throughput rate from the current approved 5.5-million tonnes a year up to a maximum of ten-million tonnes a year.

Contact Person: Director, investor relations, Sharon Loung.

Contact Details:
First Quantum Minerals,
tel +1 647 346 3934, fax +1 604 688 3818, email sharon.loung@fqml.com, and website http://www.first-quantum.com.