Oct 5 (Reuters) - First Quantum Minerals Ltd FM.TO :
* Provided update on key developments and actions in response to the low commodity prices and market volatility
* Revised precious metal stream agreement has been agreed with Franco Nevada Corporation-
* Under revised agreement, co expects Franco-Nevada's initial contribution of between $330 million-$340 million to be paid to co during October
* Estimated capital cost of project, cobre Panama, reviewed in detail and reappraised; now estimates total project cost to be $5.95 billion
* Cobre Panama project remains on track for process commissioning and first concentrate production in late 2017
* Sees 2015 copper production of 385,000-410,000 tonnes, excludes sentinel pre-commercial commissioning production of 30,000-50,000 tonnes
* C1 cost estimate is lowered to between $1.20 and $1.35 per pound
* Source text for Eikon ID:nMKWfRbsla
* Further company coverage FM.TO