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Yahoo
07-08-2025
- Business
- Yahoo
First Quantum Minerals Announces Pricing and Upsizing of Senior Notes Offering
(In United States dollars, except where noted otherwise) TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX: FM) announces that it has successfully completed the pricing of its offering (the 'Offering') of $1.0 billion aggregate principal amount of 7.250% senior notes due 2034 (the 'Notes'). The original offering amount of the Notes of $750 million has been increased to $1.0 billion. The issue price of the Notes is 100.000%. Interest on the Notes will accrue from the issue date at a rate of 7.250% per annum and will be payable semi-annually. Settlement is expected to take place on or about August 20, 2025, subject to customary conditions precedent for similar transactions. The Notes will be senior unsecured obligations of the Company and will be guaranteed by certain of the Company's subsidiaries. The Company intends to apply the gross proceeds from the sale of the Notes, together with cash on balance sheet, to fund the tender offer for its existing 6.875% senior notes due 2027, to refinance a portion of its existing 9.375% senior secured second lien notes due 2029 and to pay related fees, costs and expenses. For further information, visit our website at or contact: Investor Relations: Bonita To, Director, Investor Relations(416) 361-6400 Toll-free: 1 (888) 688-6577E-Mail: info@ Media Relations:James Devas, Manager, Corporate Affairs+44 207 291 6630E-Mail: IMPORTANT DISCLAIMER The information in this announcement does not constitute a notice of redemption or the solicitation to purchase any securities of the Company, or an offer of securities for sale in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they are registered or are exempt from the registration of the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act'). The Notes will not be registered under the U.S. Securities Act, or the securities laws of any state of the U.S. or other jurisdictions and the Notes will not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S of the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and the applicable laws of other jurisdictions. The Company does not intend to conduct a public offering in the United States or any other jurisdiction. It may be unlawful to distribute this announcement in certain jurisdictions. The information in this announcement does not constitute an offer, or a solicitation of an offer, of securities for sale in the United States, Canada, the EEA, the UK, Switzerland, Panama, Hong Kong, Japan, Singapore, or any other jurisdiction in which such an offer, solicitation or sale is not permitted. In member states of the EEA, this announcement and any offer of the securities referred to herein in any Member State of the European Economic Area ('EEA') will be made pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of the securities referred to herein. Accordingly, any person making or intending to make an offer in a Member State of Notes which are the subject of the offering contemplated may only do so in circumstances in which no obligation arises for the company or any of the initial purchasers to publish a prospectus pursuant to Article 3 of the Prospectus Regulation, in each case, in relation to such offer. Neither the company nor the initial purchasers have authorized, nor do they authorize, the making of any offer of Notes in circumstances in which an obligation arises for the company or the initial purchasers to publish a prospectus for such offer. The expression 'Prospectus Regulation' means Regulation (EU) 2017/1129. The securities are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, 'MiFID II') or (ii) a customer within the meaning of Directive 2016/97/EU (as amended), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the 'PRIIPs Regulation') for offering or selling the securities or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the securities or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation. The securities are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom ('UK'). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ('EUWA'); or (ii) a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (as amended, the 'UK PRIIPs Regulation') for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation. In the UK, this announcement and any offer of the securities referred to herein in the UK will be made pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of the securities referred to herein. Accordingly, any person making or intending to make an offer in the UK of Notes which are the subject of the offering contemplated may only do so in circumstances in which no obligation arises for the company or any of the initial purchasers to publish a prospectus pursuant to Article 3 of the UK Prospectus Regulation, in each case, in relation to such offer. Neither the company nor the initial purchasers have authorized, nor do they authorize, the making of any offer of Notes in circumstances in which an obligation arises for the company or the initial purchasers to publish a prospectus for such offer. The expression 'UK Prospectus Regulation' means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA. Neither the content of the company's website nor any website accessible by hyperlinks on the company's website is incorporated in, or forms part of, this announcement. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement is an advertisement and is not a prospectus for the purposes of the Prospectus Regulation or the UK Prospectus Regulation. This communication is only directed at (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the 'Order'), or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) persons to whom it would otherwise be lawful to distribute to or direct at, all such persons together being referred to as 'relevant persons'. The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents. This announcement is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities referred to herein in Canada. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed upon this announcement or the merits of the securities referred to herein, and any representation to the contrary is an offence. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and 'forward-looking information' under applicable Canadian securities legislation. The forward-looking statements and forward-looking information in this news release include, among other things, the timing of the closing of the Offering and the expected uses of proceeds of the Offering. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including, among other things, assumptions about the ability to price the Notes on terms that are acceptable to the Company, the timing of the closing of the Offering and the ability to achieve the Company's goals. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, events generally impacting global economic, financial, political and social stability. See the Company's Annual Information Form and other documents filed with the securities regulators or similar authorities in Canada (accessible under the Company's profile on SEDAR+ at for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of these factors are beyond First Quantum's control. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information contained herein are expressly qualified by this cautionary in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
First Quantum Provides Update on Cobre Panamá
TORONTO, May 30, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX: FM) announces that Minera Panamá S.A., a subsidiary of First Quantum, has received approval of the Preservation and Safe Management program for the Cobre Panamá mine from the Government of Panama. This will allow for the integral preservation and safe management activities and the associated environmental measures at site, which will be funded through the export of 121,000 dry metric tonnes of copper concentrate currently stored at site. The Company remains committed to the sustainability and responsible resource management at Cobre Panamá and local procurement with Panamanian suppliers. Cobre Panamá will continue to work in coordination with local authorities and communities to ensure the safe and responsible management of its activities and maintaining an open and transparent dialogue with all stakeholders. For further information, visit our website at or contact: Investor Relations:Bonita To, Director, Investor Relations (416) 361-6400 Toll-free: 1 (888) 688-6577E-Mail: info@ Media Relations:James Devas, Manager, Corporate Affairs+44 207 291 6630 E-Mail: CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward-looking statements include estimates, forecasts and statements as to the Company's expectations; the export of copper concentrate from the Cobre Panama mine and the use of proceeds thereform, the restart of the power plant, the initiation of administrative steps to ensure compliance with applicable regulatory and transparency standards, and working in coordination with local authorities and communities. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including about, among other things, the sale of copper concentrate; the ability to restart the power plant; the steps necessary to cmoplaiy with regulatory and transparency standards; engagement with local authorities and communities; and the ability to achieve the Company's goals. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, political stability in Panama, potential social and environmental challenges (including the impact of climate change), and events generally impacting economic, political and social stability in Panama and globally.
Yahoo
15-05-2025
- Business
- Yahoo
First Quantum Publishes 2024 Sustainability Reports
(In United States dollars, except where noted otherwise) TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX: FM) has published its sustainability reports for 2024. The Environment, Social and Governance Report is the Company's primary sustainability report, setting out its sustainability performance. The Company has also published its Task Force on Climate-related Financial Disclosures ('TCFD') aligned Climate Change Report and Tax Transparency and Economic Contributions Report. 'While recent events in Panama and Zambia have presented challenges for the Company, our long-term commitment to the environment and our communities remains unchanged,' said Tristan Pascall, Chief Executive Officer. 'We are focused on pursuing ambitious and tangible decarbonization strategies that support operational efficiency and resilience, productivity and our climate change commitments. At the same time, we continue to deliver strong economic value to our host countries, contributing over $3.5 billion in 2024 alone through taxes, salary and wages, local procurement, and community investment.' First Quantum today released its Climate Change Report, aligned with the recommendations of the TCFD. In light of the current situation in Panama and drought conditions aggravated by El Niño in Zambia, the Company has revised its climate targets. In the current phase of Preservation and Safe Management at Cobre Panamá following the suspension of operations, and a temporary reduction in the availability of renewable power in Zambia due to drought conditions, have impacted the expected timing of delivery of the Company's decarbonization strategy. In response, First Quantum now targets a 50% reduction in absolute Scope 1 and 2 greenhouse gas emissions, as well as the CO₂e intensity of copper production, by 2035. Achieving this goal will depend on increased clarity regarding the situation in Panama, where the power station at Cobre Panamá, when operational, remains the Company's largest single source of emissions. In 2024, the total direct economic contribution by the Company to the countries in which it operates was over $3.5 billion. This included: $800 million in taxes, royalties and other payments to government, $426 million in salaries and wages, $28 million in community investment programs, social outreach and communication, and $2,265 million in supplier spend with nationally registered suppliers. Our cumulative direct contributions to government revenue, such as taxes, royalties, and other payments to government, is over $9.2 billion for the past 8 years. For further information, visit our website at or contact: Bonita To, Director, Investor Relations (416) 361-6400 Toll-free: 1 (888) 688-6577E-Mail: info@ CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATIONCertain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward-looking statements in this news release include statements as to the timing of development, presentation and initiation of the closure plan, the contents thereof and the process for the development thereof; and the requirements to avoid environmental damage at Cobre Panamá during the non-operational phase. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions regarding the ability and willingness of MICI to develop, present and initiate a closure plan and the process, timing and contents thereof; the possibility for environmental damage during the current non-operational phase. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, the ability to receive the timing for the development, presentation and initiation of the closure plan, the contents thereof and the process for the development thereof; the duration of the nonoperational phase at Cobre Panamá; the Government of Panama's management plan for the tailings storage and water treatment facilities at Cobre Panama; the political and social situation in Panamá; potential political, legal, social and environmental challenges; and events generally impacting global economic, political and social stability. There may also be other factors that cause actual results, performance, achievements or events not as anticipated, estimated or intended, including the risks, uncertainties and other factors discussed in the Company's Annual Information Form. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law.
Yahoo
31-03-2025
- Business
- Yahoo
First Quantum Provides Update on Arbitration Proceedings in Panama
TORONTO, March 31, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX: FM) provides an update regarding two arbitration proceedings related to the Cobre Panamá mine. In November 2023, First Quantum initiated arbitration proceedings before the International Chamber of Commerce's ('ICC') International Court of Arbitration and filed a notice of intent of arbitration under the Canada-Panama Free Trade Agreement (FTA). Following engagement with the Government of Panama's legal counsel, First Quantum has agreed to discontinue the ICC arbitration proceedings. The Company has also agreed to suspend the FTA arbitration. The Company reiterates that it remains committed to dialogue with the Government of Panama and to being part of a solution for the country and the Panamanian people. For further information, visit our website at or contact: Bonita To, Director, Investor Relations (416) 361-6400 Toll-free: 1 (888) 688-6577E-Mail: info@ in to access your portfolio
