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BRIEF-First Quantum Minerals Ltd - Files Updated Ni 43-101 For Kansanshi

Published 2020-09-14, 05:52 p/m
© Reuters.

First Quantum Minerals Ltd FM.TO :

* FIRST QUANTUM MINERALS LTD - FILES UPDATED NI 43-101 FOR KANSANSHI

* FIRST QUANTUM - PLAN ASSUMES 25 MTPA EXPANSION OF SULPHIDE ORE PROCESSING FACILITY, ASSOCIATED RISE IN MINING CAPACITY, INCREASING ANNUAL THROUGHOUT TO 52 MTPA

* FIRST QUANTUM MINERALS - TIMING OF CAPITAL EXPENDITURE FOR S3 EXPANSION IS PROPOSED FOR 2023/24 & COMMISSIONING ENVISAGED IN LATE 2024

* FIRST QUANTUM MINERALS LTD - UPDATED KANSANSHI TECHNICAL REPORT IS BASED ON 1.5 MILLION METRES OF RESOURCE EXPANSION DRILLING AND RESULTING ASSAY DATA

* FIRST QUANTUM - UPDATED KANSANSHI REPORT PROVIDES UPDATED MINERAL RESERVE & RESOURCE ESTIMATES SHOWING RISE OF 70% & 40%, OVER MAY 2015 UPDATE

* FIRST QUANTUM MINERALS LTD - UPDATED KANSANSHI TECHNICAL REPORT, EXTENDS MINE LIFE TO 24 YEARS

* FIRST QUANTUM MINERALS - ESTIMATED $408 MILLION OF CAPITAL WOULD BE REQUIRED FOR CONSTRUCTION RELATED TO S3 EXPANSION

* FIRST QUANTUM MINERALS - CURRENT SCENARIO HAS MAJORITY OF SPENDING OCCURRING BETWEEN SECOND HALF OF 2023 & EARLY 2025

* FIRST QUANTUM - ADDITIONAL MINING FLEET REQUIRED FOR S3 EXPANSION EXPECTED TO BE PROCURED AT ESTIMATED COST OF $242 MILLION

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