In United States dollars, except where noted otherwise

TORONTO, Oct. 24, 2023 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX: FM) today reports results for the three months ended September 30, 2023 (“Q3 2023” or the "third quarter") of net earnings attributable to shareholders of the Company of $325 million ($0.47 earnings per share) and adjusted earnings1 of $359 million ($0.52 adjusted earnings per share2).

“It was pleasing that production continued to improve during the third quarter at each of our three main copper operations. The ramp-up of the CP100 Expansion project is progressing well, allowing the Cobre Panamá mine to achieve another record in quarterly production. This continued strong performance, together with the recent finalization of the legal framework for the mine provides a solid foundation for Cobre Panamá's future. Similarly, in Zambia, where we concluded new agreements with the government last year, we achieved first concentrate sale from the new Enterprise nickel mine in the quarter and continued to make steady progress on the S3 Expansion. With the volatile global economic outlook, we continue to build resilience to the challenging macro environment by staying focused on project execution, operational excellence and improving the balance sheet,” commented Tristan Pascall, Chief Executive Officer. “The passing of Philip Pascall in September, one of First Quantum’s co-founders and Chair, was felt profoundly across the Company as he was a friend, mentor and inspirational leader to many. I am pleased that Robert Harding will be taking on the role of Chair of the Board. Mr. Harding has been a valuable member of the Board of First Quantum, who has made significant contributions to guide .. see & read more on
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/815-tsx/fm/150102-first-quantum-minerals-reports-third-quarter-2023-results.html