First Quantum Min Ld - 2007 Copper Production

RNS Number:3236M
First Quantum Minerals Ld
22 January 2008

NEWS RELEASE

08-01

January 22, 2008

www.first-quantum.com

FIRST QUANTUM MINERALS REPORTS 2007 COPPER PRODUCTION OF 226,693 TONNES

2008 COPPER PRODUCTION FORECAST TO RISE BY 37% TO 310,000 TONNES

First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM",
LSE Symbol "FQM") announced that 2007 copper production was 226,693 tonnes a 24%
increase over 2006. Copper production in the fourth quarter of 2007 was a
record 72,746 tonnes. 2008 copper production is forecast to grow by a further
37% to 310,000 tonnes.

First Second Third Fourth Total Forecast
Quarter Quarter Quarter Quarter 2007 2008
Operation (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes)

Kansanshi 35,400 36,253 41,159 51,012 163,824 181,000
Guelb Moghrein 6,446 7,050 8,101 7,158 28,755 33,000
Frontier - - - 8,712 8,712 84,000
Bwana Mkubwa 4,557 6,676 8,305 5,864 25,402 12,000

Total 46,403 49,979 57,565 72,746 226,693 310,000

Note: Fourth quarter figures are unaudited and may be subject to final
adjustment.

"We are very pleased with the fourth quarter 2007 production results. The
Kansanshi mine continues to show quarterly production volume growth which is
expected to continue into 2008. The Frontier mine startup has performed in line
with expectations and production should continue to improve into 2008 as the
mine reaches steady state production levels. Overall we expect to see
approximately 37% production growth in 2008 over 2007 levels." commented Philip
Pascall, Chairman and CEO, First Quantum.

Further information will be published in the Company's yearend operating and
financial results.

On Behalf of the Board of Directors 12g3-2b-82-4461
of First Quantum Minerals Ltd. Listed in Standard and Poor's
G. Clive Newall
President

For further information visit our web site at www.first-quantum.com

Contact: Clive Newall, President

1st Floor, Mill House Mill Bay Lane Horsham West Sussex RH12 1TQ United Kingdom

Tel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail:
clive.newall@fqml.com.

Or

Harriet Pask or Sarah MacLeod

Hogarth Partnership Ltd. Tel: +44 (0) 20 7357 9477

Certain information contained in this news release "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 and
forward-looking information under applicable Canadian securities legislation.
Such forward-looking statements or information, including but not limited to
those with respect to the prices of gold, copper, cobalt and sulphuric acid,
estimated future production, estimated costs of future production, the Company's
hedging policy and permitting time lines, involve known and unknown risks,
uncertainties, and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements or information. Such factors include, among others,
the actual prices of copper, gold, cobalt and sulphuric acid, the factual
results of current exploration, development and mining activities, changes in
project parameters as plans continue to be evaluated, as well as those factors
disclosed in the Company's documents filed from time to time with the Alberta,
British Columbia, and Ontario Securities Commissions, the Autorite des marches
financiers in Quebec, the United States Securities and Exchange Commission and
the London Stock Exchange.

This information is provided by RNS
The company news service from the London Stock Exchange
END

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