TORONTO, August 31, 2017 /PRNewswire/ --
(In United States dollars, except where noted otherwise)
First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM") today announced that it has signed an agreement with LS-Nikko Copper to acquire its 10% ownership interest and shareholder loans in Minera Panama S.A. ("MPSA") which holds the concession for the Cobre Panama project.
AGREEMENT DETAILS:
CEO'S COMMENTS
Philip Pascall, Chairman and CEO, said "This acquisition underlines our confidence in this world class project and the strong fundamentals for copper. The Cobre Panama project is now over 60% complete and progressing well towards its commissioning next year, and on track to be one of the major, low-cost copper producers when in operation. We are very pleased that this compelling opportunity became available and that we have been able to reach agreement with LS-Nikko Copper on terms that match the development and commissioning timetable for Cobre Panama."
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall
President
For further information visit our website at http://www.first-quantum.com
North American contact: Sharon Loung, Director, Investor Relations, Tel: (647) 346-3934, Fax: (604) 688-3818, Toll Free: 1 (888) 688-6577, E-Mail: sharon.loung@fqml.com; United Kingdom contact: Clive Newall, President, Tel: +44 140 327 3484, Fax: +44 140 327 3494, E-Mail: clive.newall@fqml.com