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First Quantum Minerals Ltd

Tuesday, November 13th, 2007

First Quantum Minerals Ltd. is pleased to announce that it has determined November 2nd 2007 as the date that its Frontier copper mine in the Democratic Republic of Congo (“DRC”) achieved commercial production as defined under Canadian GAAP. The Company generally considers production “commercial” when between 65% and 70% of design capacity is reached continuously for a period of at least one week with metallurgical recoveries approaching forecast levels. Ore throughput at the process plant is currently 15,000 tonnes (design capacity – 22,000 tonnes) of ore per day.
The Frontier mine is forecast to produce 8,000 tonnes of copper in concentrate in 2007 and 75,000 tonnes of copper in concentrate in 2008.
Philip Pascall, Chairman & CEO commented, “The Frontier mine could not have been successfully developed without the DRC Government’s initiative of supporting investment in the mining industry. Frontier will provide an important economic engine for the Katanga province providing employment for the local people, support for local businesses as well as a solid tax base for the National and Provincial Governments. First Quantum’s US $226 million investment in Frontier represents the Company’s long term commitment to the DRC as investors in the mining sector.”
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