First Quantum Prepares to Apply for Argentine Tax Incentives for Copper Project Worth Up to $5.3 Billion

Argentine Foreign Minister Pablo Quirno stated that First Quantum Minerals is expected to apply to join Argentina's Large Investment Incentive Regime before the end of this year, with the copper project involving an investment of up to US$5.25 billion. Quirno added that First Quantum's Taca Taca copper mine is one of the largest undeveloped copper projects in the world. The project is planned to commence production in 2030, with a mine life of approximately 35 years and average annual copper output of about 290,000 tonnes in the first ten years after production begins.