First Quantum Minerals Announces Its 2016 Production and Sales

Base Metals Investing

First Quantum Minerals Ltd. (“First Quantum” or the “Company”)(TSX:FM) today announced its production and sales for the three months and year ended December 31, 2016. Total production and sales, for all periods in this document, are shown for continuing operations only and therefore exclude the Kevitsa mine which was sold on June 1, 2016. Total …

First Quantum Minerals Ltd. (“First Quantum” or the “Company”)(TSX:FM) today announced its production and sales for the three months and year ended December 31, 2016.
Total production and sales, for all periods in this document, are shown for continuing operations only and therefore exclude the Kevitsa mine which was sold on June 1, 2016.
Total copper production for the year 2016, including Sentinel, exceeded previously-announced market guidance and year 2015 by 5% and 31%, respectively.
Amounts shown for Q4 and Year 2016 are preliminary and subject to final adjustment. Final amounts will be published in the Company’s financial results for Q4 and year 2016 scheduled for release on February 16, 2017.
FOURTH QUARTER AND FULL YEAR PRODUCTION AND SALES SUMMARY

Production	Q4 2016	Q4 2015	Year 2016	Year 2015
Copper (tonnes)¹	146,101	115,885	539,458	411,025
Nickel (contained tonnes)	6,205	7,653	23,624	26,668
Gold (ounces)	54,234	53,889	214,012	211,067
Zinc (tonnes)	11,084	9,605	28,862	41,139
¹Includes production from Sentinel of 47,785 tonnes for Q4 2016 (Q4 2015: 15,190 tonnes) and 139,600 tonnes for the year 2016 (2015 year: 32,971 tonnes). A portion of Sentinel’s production in Q4 2016 is expected to be commercial (2015: All pre-commercial).

Sales	Q4 2016	Q4 2015	Year 2016	Year 2015
Copper (tonnes)²	136,265	119,534	535,613	391,653
Nickel (contained tonnes)	6,073	8,584	25,882	26,934
Gold (ounces)	45,620	57,958	232,783	213,927
Zinc (tonnes)	11,971	11,036	27,361	41,618
²Includes sales from Sentinel of 39,494 tonnes for Q4 2016 (Q4 2015: 6,422 tonnes) and 115,782 tonnes for the year 2016 (2015 year: 8,896 tonnes). A portion of Sentinel’s sales in Q4 2016 is expected to be commercial (2015: All pre-commercial).

FOURTH QUARTER AND FULL YEAR PRODUCTION AND SALES SUMMARIES BY OPERATION

Kansanshi		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Copper (tonnes)	65,949	61,600	253,272	226,674
	Gold (ounces)	40,331	34,009	148,220	136,257
Sales
	Copper (tonnes)	64,905	77,845	268,459	230,193
	Gold (ounces)	30,593	38,664	156,840	131,972

Las Cruces		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Copper (tonnes)	17,156	18,608	73,643	70,029
Sales
	Copper (tonnes)	15,656	16,884	73,539	70,566

Guelb Moghrein		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Copper (tonnes)	6,078	11,845	32,818	45,001
	Gold (ounces)	11,140	17,145	53,951	64,007
Sales
	Copper (tonnes)	5,840	11,228	36,330	47,322
	Gold (ounces)	11,958	16,667	63,335	70,680

Çayeli		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Copper (tonnes)	5,741	5,606	25,330	24,304
	Gold (ounces)	772	1,015	3,418	4,034
	Zinc (tonnes)	1,610	3,778	8,062	19,808
Sales
	Copper (tonnes)	7,257	4,262	26,795	22,401
	Gold (ounces)	1,235	989	4,228	4,379
	Zinc (tonnes)	2,386	4,848	6,825	19,479

Pyhäsalmi		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Copper (tonnes)	3,392	3,035	14,795	12,046
	Gold (ounces)	1,991	1,719	8,423	6,768
	Zinc (tonnes)	9,474	5,827	20,800	21,331
Sales
	Copper (tonnes)	3,114	2,892	14,708	12,276
	Gold (ounces)	1,834	1,637	8,380	6,895
	Zinc (tonnes)	9,584	6,188	20,536	22,139

Sentinel		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Copper (tonnes)	47,785	15,190	139,600	32,971
Sales
	Copper (tonnes)	39,494	6,422	115,782	8,896

Ravensthorpe		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Nickel (contained tonnes)	6,205	7,653	23,624	26,668
Sales
	Nickel (contained tonnes)	6,073	8,583	25,882	26,933

DISCONTINUED OPERATIONS PRODUCTION AND SALES SUMMARY
The year 2016 figures cover the period January 1, 2016 to the date of disposal, June 1, 2016. The year 2015 figures cover the entire calendar year.

Kevitsa		Q4 2016	Q4 2015	Year 2016	Year 2015
Production
	Nickel (contained tonnes)	–	2,538	3,657	8,805
	Copper (tonnes)	–	4,307	6,353	17,204
	Gold (ounces)	–	3,631	5,068	12,847
	Platinum (ounces)	–	10,185	12,991	31,899
	Palladium (ounces)	–	8,062	10,426	25,196
Sales
	Nickel (contained tonnes)	–	2,611	2,954	9,421
	Copper (tonnes)	–	5,020	5,874	17,081
	Gold (ounces)	–	3,413	3,758	11,539
	Platinum (ounces)	–	11,847	11,495	34,866
	Palladium (ounces)	–	9,231	8,566	26,451

On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President

CONTACT INFORMATION

North American contact:
Sharon Loung
Director, Investor Relations
(647) 346-3934
(604) 688-3818 (FAX)
Toll Free: 1 (888) 688-6577
sharon.loung@fqml.com
United Kingdom contact:
Clive Newall
President
+44 140 327 3484
+44 140 327 3494 (FAX)
clive.newall@fqml.com
www.first-quantum.com