| First Quantum Minerals Announces Imposed Power Reduction at Its Zambian Operations | |
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TORONTO, ONTARIO--(Marketwired - July 27, 2015) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today reported that, on July 22, 2015, it received notice of the declaration of Force Majeure for the supply of electricity to its Kansanshi operation from ZESCO, Zambia's state-run power company. Subsequently, on July 25, 2015, electricity supply to Kansanshi, including the smelter, was reduced to 117 megawatts from the steady-state level of 153 megawatts. Electricity supply at the Company's Sentinel project was also reduced to 42 megawatts from 55 megawatts. The supply reduction extends to all mining operations in the North Western province of Zambia.
In the notice of the declaration of Force Majeure, ZESCO stated that it has contracted independent power producers such as Maamba Collieries Limited and Itezhi Tezhi Power Corporation through the signing of Power Purchase Agreements to procure more electricity by the end of 2015.
Facilities at the Kansanshi mine, smelter and the Sentinel project are currently operating at reduced capacities while various options to alleviate the effect on production are being evaluated. As such, the Company is unable to provide estimates on the length of the supply reduction or its impact on production.
Further updates will be provided once this information is available.
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
For further information visit our website at www.first-quantum.com.
Contact Information:
North American contact:
Sharon Loung
Director, Investor Relations
(647) 346-3934 or Toll Free: 1 (888) 688-6577
(604) 688-3818 (FAX)
[email protected]
United Kingdom contact:
Clive Newall
President
+44 140 327 3484
+44 140 327 3494 (FAX)
[email protected]
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First Quantum Minerals Ltd.
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PRODUCTEUR |
CODE : FM.TO |
ISIN : CA3359341052 |
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First Quantum est une société de production minière de cuivre basée au Canada. First Quantum est productrice de cuivre, de cobalt et d'or en Mauritanie, en Republique Democratique Du Congo et en Zambie, en développement de projets de cobalt, de cuivre et de nickel en Republique Democratique Du Congo et en Zambie, et détient divers projets d'exploration au Perou et en Republique Democratique Du Congo. Ses principaux projets en production sont BWANA MKUBWA, KANSANSHI et MOPANI en Zambie, FRONTIER et KOLWEZI en Republique Democratique Du Congo et GUELB MOGHREIN en Mauritanie, ses principaux projets en développement sont KOLWESI MUSONOI en Republique Democratique Du Congo et KALUMBILA en Zambie et ses principaux projets en exploration sont KEVITSA et KEVISTA en Finlande, HAQUIRA EAST et CRISTO DE LOS ANDES au Perou et KIPUSHI en Republique Democratique Du Congo. First Quantum est cotée au Canada, au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 10,7 milliards CA$ (7,8 milliards US$, 7,3 milliards €). La valeur de son action a atteint son plus bas niveau récent le 02 novembre 2001 à 0,38 CA$, et son plus haut niveau récent le 23 avril 2024 à 15,52 CA$. First Quantum possède 689 369 984 actions en circulation. |