First Quantum Minerals Announces Sale of Cobre Las Cruces

(In United States dollars, except where noted otherwise)

TORONTO, Dec. 23, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (“First Quantum” or the “Company”) (TSX: FM) today announced that its wholly-owned subsidiary, Cobre Las Cruces S.A.U. (“Las Cruces”), has entered into a binding agreement to sell the Las Cruces mine in Spain for consideration of up to $190 million plus a profitability-linked earn-out provision (the “Transaction”) to Global Panduro, S.L.U. (“Global Panduro”), a company controlled by funds managed by Resource Capital Funds. The Transaction paves the way for Global Panduro to develop the Las Cruces polymetallic primary sulphide project (the “Project”).