| First Quantum Minerals Reports Strike Action at its Cayeli Mine | |
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TORONTO, ONTARIO--(Marketwired - Nov. 3, 2015) -
First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX:FM)(LSE:FQM) today reported that collective bargaining between the Company's wholly-owned subsidiary Çayeli Bakir Isletmeleri A.S. and its mining workers' union has failed to reach an agreement. As a result, the union started strike action at the Çayeli copper-zinc mine on October 30, 2015. Activity at the mine site will be limited to the areas of environment and safety, mine dewatering, and underground rehabilitation.
The Company remains open to reaching an agreement with the union within the parameters of the Company's cost constraints and considering the prevailing base metals market.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
12g3-2b-82-4461
Listed in Standard and Poor's
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First Quantum Minerals Ltd.
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PRODUCER |
CODE : FM.TO |
ISIN : CA3359341052 |
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First Quantum is a copper producing company based in Canada. First Quantum produces copper, cobalt and gold in Congo Dem. Rep. of, in Mauritania and in Zambia, develops cobalt, copper and nickel in Congo Dem. Rep. of and in Zambia, and holds various exploration projects in Congo Dem. Rep. of and in Peru. Its main assets in production are BWANA MKUBWA, KANSANSHI and MOPANI in Zambia, FRONTIER and KOLWEZI in Congo Dem. Rep. of and GUELB MOGHREIN in Mauritania, its main assets in development are KOLWESI MUSONOI in Congo Dem. Rep. of and KALUMBILA in Zambia and its main exploration properties are KEVITSA and KEVISTA in Finland, HAQUIRA EAST and CRISTO DE LOS ANDES in Peru and KIPUSHI in Congo Dem. Rep. of. First Quantum is listed in Canada, in Germany, in United Kingdom and in United States of America. Its market capitalisation is CA$ 12.4 billions as of today (US$ 9.1 billions, € 8.2 billions). Its stock quote reached its lowest recent point on November 02, 2001 at CA$ 0.38, and its highest recent level on September 19, 2024 at CA$ 17.94. First Quantum has 689 369 984 shares outstanding. |