VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/05/13 -- (In United States dollars, tabular amounts in millions, except where noted) -
First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM)(LSE: FQM) today announced its results for the three months and year ended December 31, 2012. The complete audited financial statements and management's discussion and analysis are available for review at www.first-quantum.com and should be read in conjunction with this news release.
First Quantum's President, Clive Newall, will host a conference call and live webcast to discuss the results on Wednesday, March 6, 2013 at 6:00 am (PST); 9:00 am (EST); 2:00 pm (GMT). The call and webcast will be available on www.first-quantum.com and by dialing 416-340-8530 or toll free in North America on 877-240-9772.
First Quantum's results have been prepared in accordance with International Financial Reporting Standards ("IFRS").
SUMMARIZED OPERATING AND FINANCIAL RESULTS
----------------------------------------------------------------------------(USD millions unless otherwise noted) Q4 2012 Q3 2012 Q4 2011 2012 2011----------------------------------------------------------------------------Copper production (tonnes) 84,918 84,144 67,316 307,115 265,576Copper sales (tonnes) 77,570 77,396 65,638 295,466 273,257Cash cost of copper production (C1)(1) (per lb) $ 1.42 $ 1.44 $ 1.53 $ 1.49 $ 1.41Realized copper price (per lb) $ 3.46 $ 3.45 $ 3.33 $ 3.51 $ 3.87Nickel production (contained tonnes) 10,096 9,916 5,666 36,759 5,666Nickel sales (contained tonnes) 8,081 7,120 1,388 30,379 1,388Cash cost of nickel production (C1)(1) (per lb) $ 6.12 $ 6.24 - $ 5.92 -Realized nickel price (per payable lb) $ 7.74 $ 7.69 - $ 7.96 -Gold production (ounces) 64,383 50,784 43,524 201,942 175,225Gold sales (ounces) 61,350 48,889 49,209 202,303 180,442----------------------------------------------------------------------------Sales revenues 774.6 724.8 567.3 2,950.4 2,583.5Gross profit 295.0 261.0 182.7 1,101.0 1,308.0EBITDA(1) 309.7 276.2 180.6 2,361.2 1,232.1Net earnings attributable to shareholders of the Company 186.7 107.3 76.0 1,772.9 528.9Earnings per share $ 0.39 $ 0.23 $ 0.16 $ 3.74 $ 1.18Diluted earnings per share $ 0.39 $ 0.23 $ 0.16 $ 3.72 $ 1.18----------------------------------------------------------------------------Comparative earnings(2) 186.7 107.3 78.9 555.0 580.5Comparative earnings per share(2) $ 0.39 $ 0.23 $ 0.17 $ 1.17 $ 1.30----------------------------------------------------------------------------(1) Cash costs (C1) and earnings before interest, tax, depreciation andamortization ("EBITDA") are not recognized under IFRS. See "RegulatoryDisclosures" for further information.(2) Earnings attributable to shareholders of the Company have been adjustedto remove the effect of unusual items to arrive at comparative earnings.Comparative earnings and comparative earnings per share are not measuresrecognized under IFRS and do not have a standardized meaning prescribed byIFRS. The Company has disclosed these measures to assist with theunderstanding of results and to provide further financial information aboutthe results to investors. See "Regulatory Disclosures" for a reconciliationof comparative earnings.
