First Quantum Minerals sells 16% shareholding in Equinox Minerals for $653 million

On November 9, 2010, First Quantum Minerals Ltd. (TSX: FM.TO)(LSE: FQM.L) reported that it had sold its non-core shareholding of 114,132,300 common shares, an approximate 16% equity interest, in Equinox Minerals Limited. First Quantum intends to deploy the net proceeds from the transaction of approximately $653 million into the advancement of its diversified pipeline of growth projects, including in Australia, Finland and Zambia. John Turner and Dan Batista of Fasken Martineau advised First Quantum in this transaction.