VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 4, 2013) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (FM.TO)(FQM.L) is proud to support the foreign investment promotion and protection agreement ("FIPA") signed on Monday March 4, 2013 between Canada and Zambia.
The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, announced the agreements at the Prospectors and Developers Association of Canada (PDAC)''s International Convention, Trade Show and Investors Exchange in Toronto between Canada, Zambia and Cameroon.
A FIPA is a treaty designed to promote and protect Canadian investment abroad through legally binding provisions and to promote foreign investment in Canada. By ensuring greater protection against discriminatory and arbitrary practices, and by enhancing the predictability of a market''s policy framework, a FIPA gives businesses greater confidence to invest. Canada has consistently supported strong, rules-based investment through the negotiation of FIPAs.
"Our government is helping create jobs, growth and prosperity for families in every region of our country by ensuring investments by Canadian businesses are protected abroad. These two investment agreements will bring greater security to the business environment for Canadian companies looking for opportunities in Cameroon and Zambia, and are further proof that the most ambitious trade expansion plan in our nation''s history continues to get results for our businesses and exporters," said Minister Fast.
About First Quantum
First Quantum is a leading international mining company with a global portfolio of copper and nickel assets located in Africa, Australia, South America and Europe. For the twelve months ended 30 September 2012, First Quantum generated revenue and adjusted EBITDA of US$2,743 million and US$1,014 million respectively and produced 290 kt of copper, 32 kt of nickel and 181 koz of gold. A diverse portfolio of profitable operating assets and quality growth projects makes First Quantum one of the fastest-growing mining companies in the world. For the 12 months ended 31 December 2012, First Quantum produced 307 kt of copper, 37 kt of nickel and 202 koz of gold. First Quantum is listed on the Toronto, London and Lusaka Stock Exchanges, with a market capitalization of approximately US$9 billion.