First Quantum Minerals Ltd. · TSX:FM

First Quantum Minerals — Corporate Update (January 2014)

22 slides from First Quantum Minerals's corporate update, Jan 28, 2014

  1. Slide 1: Cobre Panama Project Update

    Cobre Panama Project Update January 28, 2014 TSX: FM; LSE: FQM

  2. Slide 2: Cautionary Note Regarding Forward-Looking Statement

    Cautionary Note Regarding Forward-Looking Statement Some of the statements contained in the following material are forward looking statements and not statement of facts. Such statements are based on the current beliefs of management, as well as assumptions based on management information currently a

  3. Slide 3: Cobre Panama Project - Early Operations Area

    COBRE PANAMA PROJECT - EARLY OPERATIONS AREA 3

  4. Slide 4: Cobre Panama Project - Early Laydown Areas in Preparation

    COBRE PANAMA PROJECT – EARLY LAYDOWN AREAS IN PREPARATION 4

  5. Slide 5: Cobre Panama Project - Large Earthmoving Equipment Assembly Area

    COBRE PANAMA PROJECT – LARGE EARTHMOVING EQUIPMENT ASSEMBLY AREA 5

  6. Slide 6: Cobre Panama Project - Process Plant Site Earthworks

    COBRE PANAMA PROJECT – PROCESS PLANT SITE EARTHWORKS 6

  7. Slide 7: Cobre Panama Project - Mill Pad Earthworks

    COBRE PANAMA PROJECT – MILL PAD EARTHWORKS 7

  8. Slide 8: Cobre Panama Project - Process Plant Stockpile Pad

    COBRE PANAMA PROJECT – PROCESS PLANT STOCKPILE PAD 8

  9. Slide 9: Cobre Panama Project - Power Station Area

    COBRE PANAMA PROJECT – POWER STATION AREA 9

  10. Slide 10: Cobre Panama Project - Breakwater and Material Offloading Facility

    COBRE PANAMA PROJECT – BREAKWATER AND MATERIAL OFFLOADING FACILITY 10

  11. Slide 11: Cobre Panama Project - Operating Parameters

    COBRE PANAMA PROJECT – OPERATING PARAMETERS Years 1 – 10 About 70 Mtpa Average Grade (years 1 – 10) 0.5 % Cu Years +10 ± 100 Mtpa (3rd train to offset lower grade) Average Grade (+ year 10) 0.37 % Cu Recovery ± 92 % Average life of mine Cu Production 320 KT Cu per annum Concentrate Grade 26% LOM (cu

  12. Slide 12: Cobre Panama Project - Process Plant Looking North

    COBRE PANAMA PROJECT – PROCESS PLANT LOOKING NORTH 12

  13. Slide 13: Cobre Panama Project - Process Plant Looking South

    COBRE PANAMA PROJECT – PROCESS PLANT LOOKING SOUTH 13

  14. Slide 14: Cobre Panama Project - Overall Cost Status

    COBRE PANAMA PROJECT – OVERALL COST STATUS INMET FIRST QUANTUM Original Committed at Incurred at Committed at Incurred at Revised Estimate Major Areas Budget March 2013 March 2013 November 2013 November 2013 (US$M) (US$M) (US$M) (US$M) (US$M) (US$M) Mine, Port & Infrastructure 3,447 3,124 480 3,034

  15. Slide 15: Cobre Panama Project - Key Target Dates

    COBRE PANAMA PROJECT – KEY TARGET DATES KEY ACTIVITY DATE Coast road available for use Q1 – 2014 230 KV overland power line complete Q4 – 2015 Power station construction complete (300MW) Q1 – 2017 Tailings management facility complete Q2 – 2017 Process plant construction complete Q3 – 2017 Process c

  16. Slide 16: Notice

    Notice IMPORTANT: You must read the following before continuing. The following applies to the confidential information following this page (the “Information”), and you are therefore advised to read this carefully before reading, accessing or making any other use of the Information. In accessing the

  17. Slide 17: Overall changes to Capital Structure

    Overall changes to Capital Structure  First Quantum Minerals Ltd. (“First Quantum”, “FQM”, or the “Company”) is seeking to optimize its capital structure and financial flexibility. This involves: – Refinancing the short-term US$2.5 Bn revolver at FQM (Akubra) with a five year Term and Revolving Cre

  18. Slide 18: Current Corporate Structure Chart

    Current Corporate Structure Chart (Figures as of 30 September 2013) US$350 MM Senior Notes  LTM Sep-13 EBITDA: US$1.1 Bn  Total Debt / Total Leverage: US$0.8 Bn / 0.7x  Total Assets: US$8.2 Bn US$2.0 Bn Senior Notes 100% 100% 100% 100% 100% 100% 100% US$2.5 Bn RCF FQM FQM Australia Metal Corp FQM

  19. Slide 19: Pro Forma Corporate Structure Chart

    Pro Forma Corporate Structure Chart (Figures as of 30 September 2013) US$2.28 Bn (1) New Senior Notes US$350m Senior Notes US$2.5 Bn 5 year Term and RCF  LTM Sept-13 EBITDA: US$1.6 Bn  Total Debt / Total Leverage: US$3.5 Bn / 2.1x  Total Assets: $15.0 Bn 100% 100% 100% 100% 100% 100% 100% 100% 10

  20. Slide 20: Summary Terms - New US$2.5 Bn Term and RCF

    Summary Terms – New US$2.5 Bn Term and RCF Borrower • First Quantum Minerals Ltd. Mandated Lead Arrangers and • Standard Chartered Bank and BNP Paribas Underwriters • US$2,500 million Senior Credit Facility Facility – US$1,500 million Revolving Credit Facility – US$1,000 million Term Loan Maturity •

  21. Slide 21: Summary Terms - Exchange Notes

    Summary Terms – Exchange Notes Issuer • First Quantum Minerals Ltd. Maturity • 6 years • 7 years • Non-call 3 years, callable at a premium thereafter, • Non-call 4 years, callable at a premium thereafter, Redemption rateably declining to par rateably declining to par Coupon • 6.75% • 7.00% • Guarant

  22. Slide 22: Cobre Panama Project Update

    Cobre Panama Project Update January 28, 2014 TSX: FM; LSE: FQM

First Quantum Minerals — Corporate Update (January 2014) on 6ix